中资银行国际化对企业境外投资的影响分析

A Analysis on the Effect of Internationalization of Chinese Banks on Outward Direct Investment of Chinese Firms

利用中资银行设立海外分支机构与中资企业对外直接投资(ODI)的相关数据,运用倍差法分析中资银行国际化经营对中资企业ODI的影响。研究发现:中资银行海外分支机构的设立显著促进了中资企业ODI的增长;同时,中资银行海外分支机构设立的数量越多,对中资企业ODI的推动作用越强。从动态来看,中资银行海外分支机构设立对中资企业ODI的影响,在海外分支机构设立1年后变得显著,并且随着时间的推移,对中资企业ODI的影响逐渐增大。该研究从中资银行国际化的视角,分析了金融发展对企业对外直接投资的影响,在银行业国际化与制造企业国际化交叉研究上具有重要的理论与现实意义。

Using the data of establishment of overseas branches by Chinese banks and outward direct investment of Chinese firms,applying the method of Difference- in- difference（ DID）,this paper analyzes the effect of internationalization of Chinese banks on outward direct investment（ ODI） of Chinese firms. This study found that the establishment of overseas branches by Chinese banks can promote ODI of Chinese firms. The more overseas branches are established by Chinese banks,the stronger promotion on ODIof Chinese firmsthey will have.From the dynamic view,after one year of the establishment of overseas branches by the Chinese banks,the effect of internationalization of Chinese banks on ODI of Chinese firms has been notable in the statistical aspect,and it has become larger and larger over time. By researching the effect of internationalization of Chinese banks on ODI of Chinese firms,this research has theoretical and practical significance.