本文選題：對外直接投資 + 國際化　； 參考：《西南財(cái)經(jīng)大學(xué)》2014年碩士論文

【摘要】：經(jīng)濟(jì)全球化已經(jīng)成為當(dāng)今世界發(fā)展不可逆轉(zhuǎn)的潮流,只有登上這個國際大舞臺,參與國際競爭,才能提高自身的發(fā)展,增強(qiáng)實(shí)力,從而贏得更多的話語權(quán)。而對于發(fā)展中的中國而言,登上國際舞臺最好的方式就是加快對外直接投資的腳步,讓我國企業(yè)參與到全球各個地區(qū)、各個行業(yè)的活動中去,為我國在國際舞臺上的震驚四座打好基礎(chǔ)。 08年的國際金融危機(jī)爆發(fā)以來,世界經(jīng)濟(jì)受到重創(chuàng),全球主要經(jīng)濟(jì)體疲軟,國際間的資本流動量大幅下降。但是在這個時期,我國企業(yè)OFDI仍保持增長態(tài)勢,大量企業(yè)開展對外直接投資,擴(kuò)展海外市場。企業(yè)在危機(jī)中求生存,進(jìn)一步加大“走出去”的步伐。 目前,我國企業(yè)在開展對外直接投資時,多選擇綠地投資,但是隨著后金融危機(jī)時代的到來,中國企業(yè)進(jìn)行跨國并購的次數(shù)和金額都明顯增加。但與發(fā)達(dá)相比,我國在相對和絕對數(shù)量上都有很大的差距,且我國的對外直接投資平均收益率低于其他發(fā)達(dá)國家。中國企業(yè)的對外直接投資仍然處于起步階段,在全球化的發(fā)展浪潮中,面臨的選擇之一就是對外直接投資的模式的選擇。在這機(jī)遇和挑戰(zhàn)并存的背景下,中國企業(yè)在進(jìn)一步加強(qiáng)“走出去”戰(zhàn)略力度的同時,總結(jié)和吸取歷史經(jīng)驗(yàn),提高企業(yè)對外直接投資的成功率,為企業(yè)長遠(yuǎn)的發(fā)展打下堅(jiān)實(shí)的基礎(chǔ)。研究企業(yè)對外直接投資模式選擇,對我國企業(yè)的發(fā)展有著重要的現(xiàn)實(shí)意義。我國部分學(xué)者已經(jīng)研究我國企業(yè)對外直接投資進(jìn)入模式的影響因素,但受到某些條件所限,該領(lǐng)域的研究才剛剛萌芽,研究的深度和廣度都不盡人意。所以,系統(tǒng)地分析我國企業(yè)OFDI市場進(jìn)入模式是勢在必行的,進(jìn)而整理出我國企業(yè)OFDI市場進(jìn)入模式的決定因素,以此對我國企業(yè)在選擇對外直接投資市場進(jìn)入模式時,給出切實(shí)可行的政策建議。 企業(yè)對OFDI最常見模式是綠地投資和跨國并購,因此本文主要研究這兩種海外市場進(jìn)入模式。本文首先在整理國內(nèi)外學(xué)者關(guān)于選擇企業(yè)OFDI市場進(jìn)入模式的研究,然后闡述現(xiàn)階段我國OFDI的基本情況。然后根據(jù)我國OFDI市場進(jìn)入模式選擇的理論依據(jù),提出本文的五點(diǎn)研究假設(shè)。接著通過分析中興通訊的綠地投資和吉利收購沃爾沃的典型實(shí)例,包括公司簡介、國際化的動因分析、投資歷程和投資特點(diǎn)。結(jié)合本文的研究假設(shè),進(jìn)行定性分析,從而總結(jié)出我國企業(yè)OFDI市場進(jìn)入模式的影響因素,可分為內(nèi)部因素和外部因素,其中外部因素包括東道國經(jīng)濟(jì)發(fā)展水平、東道國和母國的文化差異、東道國的政策等,內(nèi)部因素則包括資產(chǎn)規(guī)模、研發(fā)能力投入、管理和技術(shù)水平以及自身發(fā)展戰(zhàn)略等因素。 然后,通過案例分析結(jié)果來驗(yàn)證提出的五點(diǎn)假設(shè)的正確性。本文驗(yàn)證了三點(diǎn)假設(shè)：企業(yè)的管理技術(shù)優(yōu)勢、研發(fā)投入以及投資動機(jī)影響企業(yè)選擇OFDI市場進(jìn)入模式。當(dāng)企業(yè)擁有管理技術(shù)優(yōu)勢時,企業(yè)采用新建投資的方式,反之則采用跨國并購；當(dāng)企業(yè)研發(fā)投入較多時,傾向于選擇新建投資,反之則選擇跨國并購；當(dāng)企業(yè)的投資動機(jī)是為了快速獲得其他技術(shù)等資源時,采用跨國并購的方式。若企業(yè)是為了自身長久的發(fā)展及占領(lǐng)市場,會選擇新建投資的方式進(jìn)入東道國市場。最后,本文為中國企業(yè)在進(jìn)行國際化戰(zhàn)略時如何選擇OFDI進(jìn)入模式,以提升企業(yè)經(jīng)營業(yè)績,提出了四點(diǎn)政策建議。 本文的研究目的是在分析比較我國企業(yè)對外直接投資市場進(jìn)入模式的基礎(chǔ)上,探討我國企業(yè)在施行“走出去”戰(zhàn)略時應(yīng)注意的重點(diǎn)影響因素和改進(jìn)建議,為我國企業(yè)對外直接投資提供相關(guān)的參考,增強(qiáng)企業(yè)的競爭力和影響力,提高我國的綜合國力。
[Abstract]:Economic globalization has become an irreversible trend in the development of the world. Only on this international stage and participation in international competition can we improve its own development, strengthen its strength and gain more discourse power. For the developing China, the best way to board the international dance station is to speed up the pace of foreign direct investment. Let our enterprises participate in the activities of various regions and industries in the world, and lay a good foundation for China's four shocks on the international stage.
Since the outbreak of the 08 year international financial crisis, the world economy has been severely damaged, the world's major economies are weak and the international capital flows have fallen sharply. However, in this period, Chinese enterprises OFDI still maintain a growing trend, a large number of enterprises carry out foreign direct investment and expand overseas markets. Go out.
At present, Chinese enterprises choose to invest more in the field of foreign direct investment. However, with the advent of the post financial crisis, the number and amount of Chinese enterprises' transnational mergers and acquisitions have increased significantly. Compared with the developed countries, China has a large gap in relative and absolute numbers, and the average return of foreign direct investment in China. The foreign direct investment of Chinese enterprises is still at the beginning stage. In the tide of globalization, one of the choices is the choice of the mode of foreign direct investment. In the background of the coexistence of the opportunity and the challenge, the Chinese enterprises will summing up and sucking at the time of further strengthening the "going out" strategy. Taking historical experience, improving the success rate of enterprise foreign direct investment and laying a solid foundation for the long-term development of the enterprise, it is of great practical significance for the development of our enterprises to study the choice of the enterprise's foreign direct investment model. When some conditions are limited, the research in this field has just sprout, the depth and breadth of the research are not satisfactory. Therefore, it is imperative to systematically analyze the OFDI market entry mode of China's enterprises, and then sort out the determinants of the OFDI market entry mode of our enterprises, so as to choose the mode of entering the foreign direct investment market for our enterprises. At the time, practical policy recommendations are given.
The most common mode of enterprise to OFDI is green land investment and transnational merger and acquisition, so this paper mainly studies the two kinds of overseas market entry mode. First of all, this paper collates the domestic and foreign scholars' research on the choice of the enterprise OFDI market entry mode, and then expounds the basic situation of the present OFDI in China. Then, according to the entry mode of our country's OFDI market, Theoretical basis, put forward the five research hypothesis of this paper, and then through the analysis of the green land investment of ZTE and the typical examples of Geely acquisition of Volvo, including company profile, international motivation analysis, investment process and investment characteristics, combined with the research hypothesis of this paper, the qualitative analysis is carried out, thus the OFDI market entry model of Chinese enterprises is summed up. The influence factors can be divided into internal and external factors, including the economic development level of the host country, the cultural difference between host country and home country, the host country's policy and so on. The internal factors include asset scale, R & D capacity input, management and technology level and its own development strategy.
Then, the results of case analysis are used to verify the correctness of the proposed five point hypothesis. This paper validates the three hypothesis: the management technology advantage, R & D investment and investment motivation affect the OFDI market entry mode. When enterprises have management technical advantages, enterprises use new investment methods and vice versa. When the enterprise has more R & D investment, it tends to choose new investment, and conversely choose transnational merger and acquisition. When the motivation of the enterprise is to obtain other technology and other resources quickly, it adopts the way of transnational merger and acquisition. If the enterprise is for its own long-term development and occupation of the market, it will choose the new way of investment to enter the host country market. Finally, this paper puts forward four policy recommendations for Chinese enterprises to choose OFDI entry mode in order to enhance their business performance.
The purpose of this study is to analyze and compare the entry mode of Chinese enterprises' foreign direct investment market, and to discuss the key factors and suggestions that our enterprises should pay attention to in implementing the "going out" strategy, and provide relevant reference for the foreign direct investment of our enterprises, enhance the competitiveness and influence of the enterprises, and improve me. The comprehensive national strength of the country.

【學(xué)位授予單位】：西南財(cái)經(jīng)大學(xué)
【學(xué)位級別】：碩士
【學(xué)位授予年份】：2014
【分類號】：F275;F832.6

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本文編號：1783720