本文選題：對外直接投資 + 國際化　； 參考：《西南財經大學》2014年碩士論文

【摘要】：經濟全球化已經成為當今世界發(fā)展不可逆轉的潮流,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,增強實力,從而贏得更多的話語權。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。 08年的國際金融危機爆發(fā)以來,世界經濟受到重創(chuàng),全球主要經濟體疲軟,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,擴展海外市場。企業(yè)在危機中求生存,進一步加大“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時代的到來,中國企業(yè)進行跨國并購的次數(shù)和金額都明顯增加。但與發(fā)達相比,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。在這機遇和挑戰(zhàn)并存的背景下,中國企業(yè)在進一步加強“走出去”戰(zhàn)略力度的同時,總結和吸取歷史經驗,提高企業(yè)對外直接投資的成功率,為企業(yè)長遠的發(fā)展打下堅實的基礎。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)實意義。我國部分學者已經研究我國企業(yè)對外直接投資進入模式的影響因素,但受到某些條件所限,該領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市場進入模式是勢在必行的,進而整理出我國企業(yè)OFDI市場進入模式的決定因素,以此對我國企業(yè)在選擇對外直接投資市場進入模式時,給出切實可行的政策建議。 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入模式。本文首先在整理國內外學者關于選擇企業(yè)OFDI市場進入模式的研究,然后闡述現(xiàn)階段我國OFDI的基本情況。然后根據(jù)我國OFDI市場進入模式選擇的理論依據(jù),提出本文的五點研究假設。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例,包括公司簡介、國際化的動因分析、投資歷程和投資特點。結合本文的研究假設,進行定性分析,從而總結出我國企業(yè)OFDI市場進入模式的影響因素,可分為內部因素和外部因素,其中外部因素包括東道國經濟發(fā)展水平、東道國和母國的文化差異、東道國的政策等,內部因素則包括資產規(guī)模、研發(fā)能力投入、管理和技術水平以及自身發(fā)展戰(zhàn)略等因素。 然后,通過案例分析結果來驗證提出的五點假設的正確性。本文驗證了三點假設：企業(yè)的管理技術優(yōu)勢、研發(fā)投入以及投資動機影響企業(yè)選擇OFDI市場進入模式。當企業(yè)擁有管理技術優(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；當企業(yè)的投資動機是為了快速獲得其他技術等資源時,采用跨國并購的方式。若企業(yè)是為了自身長久的發(fā)展及占領市場,會選擇新建投資的方式進入東道國市場。最后,本文為中國企業(yè)在進行國際化戰(zhàn)略時如何選擇OFDI進入模式,以提升企業(yè)經營業(yè)績,提出了四點政策建議。 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入模式的基礎上,探討我國企業(yè)在施行“走出去”戰(zhàn)略時應注意的重點影響因素和改進建議,為我國企業(yè)對外直接投資提供相關的參考,增強企業(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.

【學位授予單位】：西南財經大學
【學位級別】：碩士
【學位授予年份】：2014
【分類號】：F275;F832.6

【參考文獻】

相關期刊論文 前10條

1 孫笑華;發(fā)展中國家和地區(qū)外資并購情況及其啟示[J];國際經濟合作;2004年12期

2 尹盛煥;企業(yè)所有權優(yōu)勢與進入模式——中國企業(yè)在韓投資研究[J];國際貿易問題;2004年11期

3 陳浪南 ,洪如明 ,謝綿陛;我國企業(yè)跨國市場進入方式的選擇戰(zhàn)略[J];國際貿易問題;2005年07期

4 馮正強,陳立龍;企業(yè)國際化經營的市場進入方式選擇[J];國際貿易問題;2005年08期

5 陳蓉;;國際直接投資新趨勢與我國企業(yè)“走出去”的策略[J];國際貿易;2008年06期

6 張一弛;我國兩岸三地對美直接投資的進入模式:一項基于數(shù)據(jù)的分析報告[J];管理世界;2003年10期

7 吳靜芳;陳俊穎;;影響我國企業(yè)跨國并購因素的實證分析——基于2000年～2005年上市公司并購案例[J];上海經濟研究;2008年04期

8 吳靜芳;中國企業(yè)FDI的產權結構及經營績效的實證分析[J];世界經濟研究;2005年03期

9 樊瑞莉;我國對外直接投資的動因及策略分析[J];企業(yè)經濟;2005年10期

10 閻大穎;;中國企業(yè)國際直接投資模式選擇的影響因素——對跨國并購與合資新建的實證分析[J];山西財經大學學報;2008年10期

，

本文編號：1783720