中国企业走出去的理论解读

Theoretical Interpretation of Chinese Firms' Outward Foreign Direct Investment

本文首先从国际商务和国际经济学两个角度对企业对外直接投资理论进行了概述;然后结合中国企业走出去的实际,从资源论、产业组织论、制度论的角度进行了理论探索以及实证经验的总结。文章发现现阶段中国走出去的企业没有明显的资源优势;产业环境对中国企业国际化有重要影响,能部分地解释中国企业的走出去行为;制度因素是影响中国企业走出去的关键因素。

This paper attempts to provide a theoretical interpretation of outward foreign direct investment conducted by Chinese firms from the perspective of international business and international trade.We test the relevant theories,including the resource-based view,the industry-based view and the institution-based view based on the existing evidence.It is found that Chinese firms do not hold significant resource advantages at present,while industry environments can partially explain Chinese firms' 'Going global' decisions.More importantly,institutional factors are the key determinants of Chinese firms' outward foreign direct investment.