中国企业对外直接投资速度空间关联性研究

A Study on Spatial Correlation of Outward Foreign Direct Investment Speed by Chinese Corporates

在微观层面上探明企业对外直接投资速度的空间特征是理解我国对外直接投资快速增长的重要因素,本文通过匹配中国工业企业数据库和《境外投资企业(机构)名录》构建企业对外直接投资速度及其空间关联变量指标进行微观实证研究。研究发现:①企业对外直接投资速度不仅存在直接正向空间关联性,而且存在通过抵消企业低管理效率不利影响的间接正向空间关联性;②企业对外直接投资速度的空间关联性仅存在于邻省之间,并不存在于非邻省之间;③企业对外直接投资速度的邻省空间关联性存在异质性,而对发达国家进行投资的企业并不存在这种关联性。本文研究结果表明,在制定对外直接投资促进政策时应充分考虑空间协调性,发挥空间关联的积极作用。

It is important to explore the spatial characteristics of the outward foreign direct investment(OFDI)speed of Chinese Corporates in a micro sense,which is helpful to understand the fast growing of OFDI in China.This paper builds up the growing speed and spatially associated variables of corporate OFDI by matching the corporates both in the'China Industrial Enterprise Database'and'Directory of Overseas Investment enterprises(Institutions)'.It is found that i)there is not only a direct positive spatial association in the corporate OFDI speed,but also an indirect positive spatial association exists through offsetting the negative impact caused by corporate low management efficiency;ii)the spatial association of the corporate OFDI speed only exists among the neighboring provinces and does not exist among the non-neighboring provinces;iii)there is a heterogeneity in the spatial association of the corporate OFDI speed among the neighboring provinces and the corporates which invest in the developed countries do not have this association.The results mean that the spatial coordination should be fully taken into account and the positive role of spatial association should be actively played when the policies are formulated for promoting corporate OFDI.