The impact of contextual distance on the investment locations of Chinese multinationals in countries along the Belt and Road Initiative

IF 2 4区管理学 Q3 BUSINESS

Asia Pacific Business Review Pub Date : 2024-03-14 DOI:10.1080/13602381.2022.2093524

Haiyan Zhang, Filip De Beule

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引用次数: 1

Abstract

ABSTRACT This study has investigated the impact of contextual distance between home and host countries on the location choice of Chinese multinational enterprises in Asia and Europe, with special attention to the impact of the Belt and Road Initiative (BRI). Through our analysis, we have extended existing IB research of contextual distance to include some new dimensions, such as the policy alignment between home and host countries, existence of home country’s business networks, ethnic communities, and language and cultural institutions in host countries, as well as their historical links. The effects of these factors are also contrasted by the ownership attributes of investing firms, i.e. Chinese SOEs and POEs, to detect the importance of firm-level factor in influencing the effect of contextual distance. The analysis of 4437 Chinese greenfield investment projects between 2003 and 2019 in Europe and Asia – based on a conditional logit model – provided support but also qualified some of our hypotheses, which constitute our main contribution to the theoretical and empirical literature on the location choice of Chinese multinational enterprises in general and on Chinese investment along the Belt and Road (B&R) in particular.

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背景距离对中国跨国公司在 "一带一路 "沿线国家投资地点的影响

ABSTRACT 本研究探讨了母国与东道国之间的背景距离对中国跨国企业在亚洲和欧洲的区位选择的影响，并特别关注了 "一带一路 "倡议（BRI）的影响。通过分析，我们扩展了现有国际商学院对背景距离的研究，纳入了一些新的维度，如母国与东道国的政策一致性、母国在东道国的商业网络、民族社区和语言文化机构的存在，以及它们之间的历史联系。这些因素的影响还与投资企业的所有制属性（即中国国有企业和民营企业）进行了对比，以发现企业层面的因素在影响环境距离效应方面的重要性。基于条件对数模型，对 2003 年至 2019 年间 4437 个中国在欧洲和亚洲的绿地投资项目进行了分析，结果支持并验证了我们的一些假设，这些假设构成了我们对有关中国跨国企业区位选择，特别是中国在 "一带一路 "沿线投资的理论和实证文献的主要贡献。

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来源期刊

Asia Pacific Business Review Multiple-

CiteScore

4.40

自引率

13.80%

发文量

期刊介绍： The growth of the Asia Pacific region and the rising presence of its multinationals in world markets has raised a number of questions about the origins of national economic success. Asia Pacific Business Review addresses these key issues and draws together the lessons of the analysis of culture, economies, history, politics and societies in the area, in order to explore business-related phenomena in the Asia Pacific countries, both in their general and specific contexts. The Review is intended for both academics and interested observers, contains the contributions of recognized experts, and is essential to anyone seeking the latest research on Asia Pacific business in a readily available, approachable form. We welcome articles which deal with nations and societies in the Asia Pacific region, namely those in East Asia and South-East Asia (but not South Asia), including those in APEC and ASEAN, individually or comparatively. Of interest also are contributions on the Asia Pacific economies, comparing those inside with those outside, or those investing in it. We do not, however, publish papers based solely on countries from outside the region.