海外华商网络、多维距离对我国企业OFDI区位选择的影响研究

The Influence of Overseas Chinese Network, Multidimensional Distance on China's OFDI Location Choice: Based on the Research of Threshold Effect

本文选取2003-2012年中国OFDI的69个国家（地区）的面板数据．运用PCSE和FGLS模型重点考察了海外华商网络、多维距离（制度距离、文化距离及地理距离）对我国OFDI区位选择的影响。实证研究发现海外华商网络对我国OFDI产生正效应；运用Hansen非线性面板门槛模型进一步考察制度距离、文化距离、地理距离的门槛值，发现多维距离与我国OFDI呈现明显的u型关系，这为多维距离与我国OFDI的非线性关系提供了有力的解释与支持。以此为基础，本文提出了我国企业OFDI的政策建议。

This paper analyses the influence of overseas Chinese networK, multidimensional distance （institutional distance, cultural distance and geographical distance）on China＇s OFDI location selection by using panel data of investing to 69 countries from 2003-2012. Firstly, we use PCSE and FGLS models to exam- ine the impact. Results show that, overseas Chinese network has a positive impact on China＇s OFDI, and the impact of institu- tional, cultural, geographical distance have been observed to be non-linear. Then we test the threshold level by employing Hansen nonlinear panel threshold model, it is found that the relationship between multidimensional distance and China＇s OFDI is significant u-shaped. This provides a strong explanation and support for the nonlinear relationship between the multidimensional distance and China＇s OFDI, and gives some policy suggestions to Chinese enterprises.