發(fā)布時間：2018-10-30 07:01

【摘要】：盡管中國企業(yè)海外投資已進入加速階段,母國與東道國之間制度環(huán)境的差異仍然在很大程度上影響著企業(yè)的投資決策,但現(xiàn)有文獻對制度距離與企業(yè)海外投資進入模式?jīng)Q策關系的結論并不一致。以2008—2012年間中國上市公司海外投資事件為樣本,實證結果表明:(1)正式制度距離越大,企業(yè)越傾向于采用獨資模式進入東道國;非正式制度距離越大,企業(yè)越傾向于采用合資模式進入。(2)當中國企業(yè)進入制度環(huán)境比自身完善的東道國時,正式制度距離與獨資模式的正向關系被強化。(3)隨著企業(yè)過去積累的東道國經(jīng)驗的增多,非正式制度距離與合資模式的關系被削弱。
[Abstract]:Although the overseas investment of Chinese enterprises has entered an accelerated stage, the differences in the institutional environment between the home country and the host country still greatly affect the investment decisions of the enterprises. However, the existing literature on the relationship between institutional distance and foreign investment entry mode is inconsistent. Taking the overseas investment events of Chinese listed companies from 2008 to 2012 as a sample, the empirical results show that: (1) the larger the distance of formal system, the more enterprises tend to use the sole proprietorship mode to enter the host country; The greater the distance between informal institutions, the more inclined to use the joint venture mode to enter. (2) when Chinese enterprises enter the host country with perfect institutional environment, The positive relationship between the formal institutional distance and the sole proprietorship model is strengthened. (3) with the increase of the experience of the host country in the past, the relationship between the informal institutional distance and the joint venture model is weakened.
【作者單位】： 浙江大學管理學院;
【基金】：國家自然科學基金重點項目(71232013);國家自然科學基金面上資助項目(71472164);國家自然科學基金面上資助項目(71372054)
【分類號】：F272.92;F276.7
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本文編號：2299281