多维距离对我国企业国际化经营模式的影响——基于“一带一路”沿线国家面板数据的PPML回归分析

The Influence of Multi-Dimensional Distance on the International Business Model of Chinese Enterprises--A PPML Regression Analysis of Countries along the“Belt and Road”

伴随我国与“一带一路”沿线国家经贸合作的深化,中国企业国际化经营模式的选择日益重要。基于2003—2018年期间中国对“一带一路”沿线45个国家的面板数据,综合考察多维距离对出口与外商直接投资两种主要国际化经营模式的影响。研究发现,东道国技术水平与经济自由度提升有助于扩大我国对“一带一路”沿线国家的出口与对外直接投资,制度距离、经济距离和文化距离阻遏我国企业对“一带一路”沿线国家的出口与外商直接投资,修正的地理距离可以增进我国企业对“一带一路”沿线国家的外商直接投资且助力出口。我国企业在制定对外投资决策时,应秉承“共商共建共享”的治理模式,持续强化与“一带一路”沿线国家的经贸合作。

This paper integrates the factors of both home country and host country into an analytical framework and uses the Poisson Pseudo-maximum Likelihood estimation to comprehensively examine the influence of multidimensional distance on the export and foreign direct investment based on the panel data of 45 countries along the“Belt and Road”from 2003 to 2018.The results show that the improvement of the host country’s technical level and economic freedom is conducive to the expansion of China’s export and foreign direct investment to the countries along the“Belt and Road”.Institutional distance,economic and cultural distance hinder China’s export and foreign direct investment and have stronger inhibition on foreign direct investment.The revised geographical distance promotes foreign direct investment of Chinese enterprises and helps export.Therefore,Chinese enterprises should not only pay attention to the technical level and economic freedom of the host country,but should also actively take into consideration the multi-dimensional distance to weaken the inhibitory effect of multi-dimensional distance on export and foreign direct investment continuously.