Since the early 1990s, China has become the largest destination of Japanese foreign direct investment （FDI）. Observing this trend, the authors analyzed whether Japanese FDI did promote exports from China to the rest...Since the early 1990s, China has become the largest destination of Japanese foreign direct investment （FDI）. Observing this trend, the authors analyzed whether Japanese FDI did promote exports from China to the rest of the world, and more importantly, whether this is a strategy adopted by Japanese multinationals to penetrate not only the Chinese market but also the global market. This analysis takes into account not only the direct effects of FDI on exports, but also the indirect effects, by examining the mediating role of export oriented Japanese FDI in China from 1998 to 2007 through panel analysis. The study contributes to the conceptual framework of indirect relationship among the macroeconomic variables, FDI and exports provides some insights into the strategy of export oriented Japanese FDI in creating a win-win platform for Japan and China.展开更多
Inward foreign direct investment （FDI） is expected to grow further by virtue of economic globalization. A thorough understanding of the locational determinants of inward FDI will be conducive to enhanced efficiency ...Inward foreign direct investment （FDI） is expected to grow further by virtue of economic globalization. A thorough understanding of the locational determinants of inward FDI will be conducive to enhanced efficiency in attracting direct and SOC-related investments from foreign entities. This study analyzes 51 cases of inward direct foreign investment made in the Incheon free economic zone （IFEZ） from 2002 to 2009 to determine the factors influencing FDI volume, the relevance of locations and the correlation between investment size and location. First, the relationship between the loeational determinants of FDI and the total investment size （total expected project cost） is analyzed. Second, the relationship between the locational determinants of FDI and the FDI is analyzed. Third, the relationship between the locational determinants of FDI and the location choice is analyzed. The results indicate the determinants that influence locations and investment size of FDI entities; whether these factors exercise influence in the zone; and the factors that have relatively significant effects. Ultimately, based on the analytical findings, a few implications for policy and practice are derived.展开更多
This study examines the efficiency of investment trust companies(ITCs)from 2011 to 2020 using a meta-frontier two-stage network data envelopment analysis(DEA)based on the directional distance function(DDF).We improved...This study examines the efficiency of investment trust companies(ITCs)from 2011 to 2020 using a meta-frontier two-stage network data envelopment analysis(DEA)based on the directional distance function(DDF).We improved the accuracy of the efficiency measurement and added a network-based ranking component to rank the topperforming entities.In the group-specific technology assessment,foreign ITCs excel in investment efficiency.Meanwhile,in the meta-technology assessment,domestic ITCs outperform foreign ITCs in terms of both investment and operational efficiencies.Group-specific technology efficiency scores were found to be lower than or equal to the meta-technology efficiency scores for both the operational and investment stages.Based on the network-based ranking approach,Yuan Ta,a domestic ITC that ranked fourth in the operational stage and first in the investment stage,can be used as a reliable benchmark.This study will enable practitioners to gain a better understanding of the performance of ITCs operating under heterogeneous technologies.展开更多
Media inclinations,whether favorable or biased,play a pivotal role in shaping public opinion.Sometimes,media coverage may unintentionally foster skepticism towards foreign firms,which could create challenges for those...Media inclinations,whether favorable or biased,play a pivotal role in shaping public opinion.Sometimes,media coverage may unintentionally foster skepticism towards foreign firms,which could create challenges for those companies when they enter new markets.Based on a panel dataset from 2005 to 2020,this is one of the first studies to investigate empirically the impact of media opinion on outward foreign direct investment(OFDI)behaviors at the firm level.The media inclination index was constructed according to the varying inclinations of media from different countries in their reporting on each event.We examined the impact of media inclination on the investment value,frequency,and number of industries.This study has revealed the following insights:(i)Positive media coverage can stimulate the investment behavior of Chinese firms.(ii)The heterogeneity analysis indicates that the promotional effect of media reporting inclination on OFDI is more significant for state-owned firms from the investor's perspective and especially pronounced for firms in developing countries from the investee's perspective.(iii)Diplomatic visits and scientific research cooperation can amplify the positive impact of media opinions on the OFDI behaviors of Chinese firms.展开更多
探讨如何优化营商环境以促进外商直接投资(foreign direct investment,FDI)的流入及FDI对企业创新具有怎样的影响对中国经济社会发展具有重大现实意义。基于组态视角,采用fsQCA和PSM研究方法,检验不同营商环境要素对FDI的组态效应,以及...探讨如何优化营商环境以促进外商直接投资(foreign direct investment,FDI)的流入及FDI对企业创新具有怎样的影响对中国经济社会发展具有重大现实意义。基于组态视角,采用fsQCA和PSM研究方法,检验不同营商环境要素对FDI的组态效应,以及不同营商环境组态对企业创新的影响。研究发现,单个营商环境要素不构成高FDI的必要条件,各要素相互结合以“殊途同归”的方式产生高FDI。产生高FDI的营商环境组态有创新环境主导型、市场-人文环境驱动型、市场-政务-创新环境驱动型和综合驱动型4条;产生非高FDI的营商环境组态有3条,概括为多要素抑制型和人文环境抑制型;产生高FDI的营商环境组态与产生非高FDI的营商环境组态呈现非对称性特征;东部发达地区营商环境组态引入的FDI能够促进当地企业创新,中部地区营商环境组态引入的FDI对当地企业创新影响存在差异性,西部地区营商环境组态引入的FDI抑制了当地企业创新。在“双循环”新发展格局背景下,基于组态视角为优化营商环境引入FDI及促进企业创新提供理论指导。展开更多
During the past decade, China＇s outward direct investment （ODI） and exports have experienced rapid growth, drawing increasing attention to the relationship between them. Using the gravity model based on panel data ...During the past decade, China＇s outward direct investment （ODI） and exports have experienced rapid growth, drawing increasing attention to the relationship between them. Using the gravity model based on panel data on China ＇s ODI and trade to 174 countries and regions during 2003-2012, the present paper investigates the impacts of China＇s ODI on exports. We find that China＇s ODI to a host country significantly promotes China＇s trade with that economy： a lO-percent increase in ODI stock can lead to a 2.14-percent increase in exports, a 2.07-percent increase in imports and a 2.87-percent increase in net exports. The scale of the host country＇s economy, its infrastructure and its distance to China also have significant impacts on China＇s exports. Therefore, growth in ODI will facilitate China＇s trade and integration into the global economy, and enhance industrial upgrading in China by transferring the low-end industries abroad.展开更多
文摘Since the early 1990s, China has become the largest destination of Japanese foreign direct investment （FDI）. Observing this trend, the authors analyzed whether Japanese FDI did promote exports from China to the rest of the world, and more importantly, whether this is a strategy adopted by Japanese multinationals to penetrate not only the Chinese market but also the global market. This analysis takes into account not only the direct effects of FDI on exports, but also the indirect effects, by examining the mediating role of export oriented Japanese FDI in China from 1998 to 2007 through panel analysis. The study contributes to the conceptual framework of indirect relationship among the macroeconomic variables, FDI and exports provides some insights into the strategy of export oriented Japanese FDI in creating a win-win platform for Japan and China.
文摘Inward foreign direct investment （FDI） is expected to grow further by virtue of economic globalization. A thorough understanding of the locational determinants of inward FDI will be conducive to enhanced efficiency in attracting direct and SOC-related investments from foreign entities. This study analyzes 51 cases of inward direct foreign investment made in the Incheon free economic zone （IFEZ） from 2002 to 2009 to determine the factors influencing FDI volume, the relevance of locations and the correlation between investment size and location. First, the relationship between the loeational determinants of FDI and the total investment size （total expected project cost） is analyzed. Second, the relationship between the locational determinants of FDI and the FDI is analyzed. Third, the relationship between the locational determinants of FDI and the location choice is analyzed. The results indicate the determinants that influence locations and investment size of FDI entities; whether these factors exercise influence in the zone; and the factors that have relatively significant effects. Ultimately, based on the analytical findings, a few implications for policy and practice are derived.
文摘This study examines the efficiency of investment trust companies(ITCs)from 2011 to 2020 using a meta-frontier two-stage network data envelopment analysis(DEA)based on the directional distance function(DDF).We improved the accuracy of the efficiency measurement and added a network-based ranking component to rank the topperforming entities.In the group-specific technology assessment,foreign ITCs excel in investment efficiency.Meanwhile,in the meta-technology assessment,domestic ITCs outperform foreign ITCs in terms of both investment and operational efficiencies.Group-specific technology efficiency scores were found to be lower than or equal to the meta-technology efficiency scores for both the operational and investment stages.Based on the network-based ranking approach,Yuan Ta,a domestic ITC that ranked fourth in the operational stage and first in the investment stage,can be used as a reliable benchmark.This study will enable practitioners to gain a better understanding of the performance of ITCs operating under heterogeneous technologies.
基金the National Natural Science Foundation of China(No.72303146)Project of Shanghai Science and Technology Innovation Action Plan 2022(No.22692105200)+1 种基金the National Social Science Major Fund of China(No.22ZDA062)the Fundamental Research Funds for the Central Universities(No.2020110308).
文摘Media inclinations,whether favorable or biased,play a pivotal role in shaping public opinion.Sometimes,media coverage may unintentionally foster skepticism towards foreign firms,which could create challenges for those companies when they enter new markets.Based on a panel dataset from 2005 to 2020,this is one of the first studies to investigate empirically the impact of media opinion on outward foreign direct investment(OFDI)behaviors at the firm level.The media inclination index was constructed according to the varying inclinations of media from different countries in their reporting on each event.We examined the impact of media inclination on the investment value,frequency,and number of industries.This study has revealed the following insights:(i)Positive media coverage can stimulate the investment behavior of Chinese firms.(ii)The heterogeneity analysis indicates that the promotional effect of media reporting inclination on OFDI is more significant for state-owned firms from the investor's perspective and especially pronounced for firms in developing countries from the investee's perspective.(iii)Diplomatic visits and scientific research cooperation can amplify the positive impact of media opinions on the OFDI behaviors of Chinese firms.
文摘探讨如何优化营商环境以促进外商直接投资(foreign direct investment,FDI)的流入及FDI对企业创新具有怎样的影响对中国经济社会发展具有重大现实意义。基于组态视角,采用fsQCA和PSM研究方法,检验不同营商环境要素对FDI的组态效应,以及不同营商环境组态对企业创新的影响。研究发现,单个营商环境要素不构成高FDI的必要条件,各要素相互结合以“殊途同归”的方式产生高FDI。产生高FDI的营商环境组态有创新环境主导型、市场-人文环境驱动型、市场-政务-创新环境驱动型和综合驱动型4条;产生非高FDI的营商环境组态有3条,概括为多要素抑制型和人文环境抑制型;产生高FDI的营商环境组态与产生非高FDI的营商环境组态呈现非对称性特征;东部发达地区营商环境组态引入的FDI能够促进当地企业创新,中部地区营商环境组态引入的FDI对当地企业创新影响存在差异性,西部地区营商环境组态引入的FDI抑制了当地企业创新。在“双循环”新发展格局背景下,基于组态视角为优化营商环境引入FDI及促进企业创新提供理论指导。
文摘During the past decade, China＇s outward direct investment （ODI） and exports have experienced rapid growth, drawing increasing attention to the relationship between them. Using the gravity model based on panel data on China ＇s ODI and trade to 174 countries and regions during 2003-2012, the present paper investigates the impacts of China＇s ODI on exports. We find that China＇s ODI to a host country significantly promotes China＇s trade with that economy： a lO-percent increase in ODI stock can lead to a 2.14-percent increase in exports, a 2.07-percent increase in imports and a 2.87-percent increase in net exports. The scale of the host country＇s economy, its infrastructure and its distance to China also have significant impacts on China＇s exports. Therefore, growth in ODI will facilitate China＇s trade and integration into the global economy, and enhance industrial upgrading in China by transferring the low-end industries abroad.
