Risks and Firms' Decision Making on Outward Foreign Direct Investment: An Empirical Analysis of China's State-owned Enterprises

IF 2.9 2区经济学 Q1 ECONOMICS

China & World Economy Pub Date : 2022-11-30 DOI:10.1111/cwe.12450

Xiaosong Wang, Huan Wu, Le Li

引用次数: 3

Abstract

This study explored how the risks encountered by Chinese state-owned enterprises (SOEs) affected their decision-making on outward foreign direct investment (OFDI), using data regarding the relationship between the host countries and China. The following conclusions were drawn. Larger SOEs with fixed capital exhibited a higher probability of conducting OFDI and did so on a larger scale. Various risks in host countries significantly hindered the OFDI of Chinese SOEs. In pursuit of natural resources, Chinese SOEs chose to take risks. The amount of OFDI by SOEs was positively related to the political, economic, and geographical relations between China and the corresponding host country.

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风险与企业对外直接投资决策——基于中国国有企业的实证分析

本研究利用东道国与中国关系的数据，探讨了中国国有企业所面临的风险如何影响其对外直接投资(OFDI)决策。得出了以下结论。规模较大的固定资本国有企业进行对外直接投资的可能性更高，规模也更大。东道国的各种风险严重阻碍了中国国有企业的对外直接投资。为了获取自然资源，中国国有企业选择了冒险。国有企业对外直接投资的数量与中国与相应东道国的政治、经济和地理关系呈正相关。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

China & World Economy ECONOMICS-

CiteScore

4.70

自引率

12.90%

发文量

391

期刊介绍： The bi-monthly China & World Economy was launched in 1993 by the Institute of World Economics and Politics, Chinese Academy of Social Sciences (CASS). It is the only English-language journal in China devoted to the topic of the Chinese economy. The journal aims to provide foreign readers with an objective, impartial, analytical and up-to-date account of the problems faced and progress made by China in its interaction with the world economy. Among its contributors are many distinguished Chinese economists from both academic and government circles. As such, it has become a unique window on China and is essential reading for all those concerned with China"s development.