中国企业海外投资区位选择分析

Analysis on the Choice of Chinese Enterprises' Interest in Overseas Investment

区位选择是企业海外投资的重要战略决策,关乎企业海外投资的成败。现有的关于区位选择的影响因素并不统一,研究制度环境对我国企业海外投资区位选择结论存在分歧,而将国家文化距离作为独立自变量检验其对区位选择影响的文献并不多见,现有的研究多将其作为控制变量引入。文章选取2003-2013年间的数据,利用引力模型分析制度环境与国家文化距离对我国企业海外投资区位选择,实证结果表明:制度环境对我国企业海外投资有负向的影响作用,文章对现有的文献结论作了进一步的论证和规范;国家文化距离对我国企业海外投资有负向的影响作用,我国企业的海外投资区位选择时,国家文化距离是重要的影响因素,应该引起企业界的高度重视。这些发现能够对我国企业海外投资的区位选择提供决策参考。

Location selection is an important strategic decision of enterprise overseas investment, affect success or failure of enterprises overseas investment. Existing on the influence factors of location selection is not unified, the institutional environment for our country enterprise overseas investment location choice conclusions are divided, and the national culture and distance as independent variables test its impact on the location choice of literature does not see more, the existing research as a control variable is introduced.This article selects data from 2003-2013, using the gravity model to analyze the institutional environment and national culture to our country enterprise overseas investment location choice, the empirical results show that the institutional environment has a negative effect on our country enterprise overseas investment, made a further argument on the existing literature conclusion and specification; national culture and distance has a negative effect on our country enterprise overseas investment, should has drawn great attention of the corporate world. These findings to our country enterprise overseas investment location choice to provide decision-making reference.