中国企业对美直接投资方式选择的实证研究

Empirical Research on Choosing Mode of Chinese Enterprises' Investment to U.S.A

利用回归分析对中国企业对美国直接投资现状进行了剖析,找出了中国企业对美国投资的基本特点。根据权威机构的数据,利用财务指标分析法设计了相应变量,构造了综合评价模型,获得了不同投资方式对投资的平均超额收益率和窗口期累积平均超额收益率的影响。然后,剖析了中国企业对美投资存在的主要障碍并提出了相应的对策。

Using regression analysis studies the current status of Chinese enterprises＇ invest- ment to America deeply, and the basic character of Chinese enterprises＇ investment to America is found out. According to the data from authoritative organization, the corresponding variables are designed based on financial indicator analysis method, and the comprehensive evaluation model is constructed, and the effects of different investment methods on the average excess return and mean accumulation average excess return in window period are obtained. And then the main ob- stacles of the Chinese enterprises＂ investment to America are investigated. Finally, the counter- measure of it is put forward.