摘要
基于中国590家上市公司1891项海外投资项目的研究表明:总体而言,中国上市公司偏向于到东道国市场规模较大、产业技术水平较高、文化距离较近、制度距离较大、双边关系良好的国家和地区投资,但不同行业、不同所有权属性的企业间存在差异,进入成本已不再是中国企业海外投资的主要考虑因素,地理距离的影响也逐渐被削弱,从时间上看,上市公司对外投资在全球金融危机之后已发生结构性改变,资源导向、市场导向更加明显,成本导向削弱。
Based on the research of 1891 overseas investment projects of 590 listed companies in China, the paper shows that: in general, Chinese listed companies tend to have larger scales in the host country, higher industrial technology level, closer cul tural distance, larger institutional distance, and bilateral Investment in countries and regions with good relations, but there are differences among enterprises with different industries and different ownership attributes. The entry cost is no longer the main consideration for Chinese enterprises' overseas investment, and the influence of geographical distance is gradually weakened. In terms of time, The foreign investment of listed companies has undergone structural changes after the global financial crisis. Re source-oriented, market-oriented, and cost-oriented weakening.
出处
《投资研究》
CSSCI
北大核心
2019年第3期79-93,共15页
Review of Investment Studies
基金
教育部人文社会科学研究项目”中国企业海外投资区位决策研究:基于异质性理论的视角”(项目编号:17YJC630052)
江苏高校青年骨干教师境外研修计划
江苏高校“青蓝工程”培养计划
常州工学院“青年学者”支持计划的资助
关键词
OFDI
区位选择
东道国
距离因素
OFDI
location selection
host country
distance factor
