服务特性、经验效应与中国服务业外商投资——基于生产性与消费性服务业的实证研究

Service Characteristics, Experience Effect and the Foreign Investment of China's Service Industry: An Empirical Analysis on Producer Services and Consumer Services

服务业跨国投资活动逐渐成为近年来跨国经营的热点问题,探讨服务业外商投资动因对我国服务业吸引外资和自身发展均具有积极影响。鉴于以往研究大多关注整体服务业而忽略不同服务业的内在差异、关注东道国客观因素而忽略企业主观因素的研究现状,本文将选择以下切入点进行研究:一是服务特性差异对不同类型服务业投资动因的客观影响,二是以往投资经验效应的主观影响。为此,本文选择我国生产性和消费性服务业外商投资作为研究对象,引入VAR模型检验服务特性和经验效应对不同类型服务业投资动因的影响作用,得出结论:生产性服务业更倾向于效率寻求和距离论的投资动因;消费性服务业则倾向于市场寻求和东道国区位优势动因,此外跨国公司以往投资经验也对未来海外投资产生积极影响。通过分析,本文希望能对不同服务特性行业的投资动因进行有针对性地分析,并指引其有效吸引外资和改善投资环境。

The overseas investments of service enterprises have caught great attention of researchers and managers in recent years. Therefore, to make further researches on the investment motivation ol service enterprises will play a positive role in encouraging more investment and speeding up the development of service industiy. Considering that most ol the former researches focused on the total service industry, this paper would choose the producer services and the consumer services as researching objects, and probe into the object effect of service characteristics and the subject effect of the former investment experience on the investment motivations of different kinds of service industries. Introducing VAR model, it finds out that the FDI in the producer services has mostly considered the following factors as efficiency-seeking motivation, human capital and industry gap, while the investment of the consumer services prefers to market-seeking motivation, human capital and telecommunication capital. Besides, it also confirmed the effect of former investment experience on the investment motivations of different service industries. Based on the empirical analysis, the paper hopes to provide some effective suggestions for the service industiy on how to attract the foreign investments and how to achieve a quicker and healthier development.