跨国公司行业选择与地点选择战略的相关性

Correlation of Industry Selection and Location Choice of MNE

行业选择和地点选择分别是跨国公司进入战略的主要论题,但现有研究缺少对两者之间是否存在相关性的分析。本文以中国FDI的"引进来"部分(IFDI)和"走出去"部分(OFDI)为例,分析中国作为东道国引进外资时和其作为母国对外投资时在行业选择上的差异;并考虑地点选择因素,研究"走出去"的中国企业在发达国家和发展中国家的行业选择上是否存在差异,以及在中国投资的发达国家和发展中国家在行业选择上是否存在区别。通过跟踪200家外商来华投资企业和40家中国对外投资企业(118个项目)的投资产业、母国和东道国信息,运用描述统计和卡方检验得出实证结论:外商来华投资和中国对外投资在行业选择和地点选择上都存在差别;发达国家和发展中国家在华投资行业的技术含量有显著不同,即跨国公司的行业选择与地点选择存在相关性;但中国企业在对外投资中受资源寻求动机的强烈影响,其到发达国家和发展中国家进行投资时在行业选择上没有体现出差异性。

Industry selection and location choice are both the main topics of MNEs＇ entry strategy, but there is little study on whether they are correlative or not. This paper takes China＇s IFDI and OFDI as examples, and studies the differences on industry selection of China between when China＇s attracting investment and when China^s investing abroad. Furthermore,considering the location choice,it studies whether the industry selection of Chinese firms going abroad to developed countries is different from those to developing countries, and whether the industry selection of MNEs from developed countries to invest in China is different from the industry selection of those from developing countries. Through tracing the investment industry,home country and host country of IFDI top 200 firms and OFDI top 40 firms （118 investment projects） of China,this paper draws empirical conclusions by using the descriptive statistics method and Chi-square test：there are discrepancies in both industry selection and location choice between IFDI and OFDI,and there are significant differences on technological content between IFDI industries of developed countries and those of developing countries,which means that MNEs ＇ industry selections are correlative with location choices. However, there are no differences on industry selection between Chinese firms with OFDI to developed countries and those to developing countries because of strong resource-seeking motivations in China＇s OFDI.