State ownership and Chinese private firms’ OFDI in developed economies

IF 8.9 1区管理学 Q1 BUSINESS

Journal of World Business Pub Date : 2024-03-29 DOI:10.1016/j.jwb.2024.101534

En Xie , Fanshu Li , Zhan Wu , Vikas Kumar

引用次数: 0

Abstract

The study applies multiple logics based on institutional theory to explain how state ownership influences Chinese firms’ outward foreign direct investment (OFDI). A sample of Chinese listed private firms is used to understand which logic dominates the relationship between Chinese private firms’ state ownership and their OFDI in developed economies (OFDI-in-DE). We find that state ownership depresses Chinese private firms’ OFDI-in-DE, supporting the institution-(in)compatible logic, and that government subsidies weaken this negative effect, while negative media coverage of these firms strengthens it. The findings imply that the institution-incompatible logic dominates the influence of state ownership on Chinese private firms’ OFDI-in-DE.

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国有制与中国民营企业在发达经济体的对外直接投资

本研究运用基于制度理论的多重逻辑来解释国有制如何影响中国企业的对外直接投资（OFDI）。本研究以中国上市民营企业为样本，了解哪种逻辑主导了中国民营企业的国有所有权与其在发达经济体的对外直接投资（OFDI-in-DE）之间的关系。我们发现，国有所有权抑制了中国民营企业对发达经济体的对外直接投资，支持了制度（不）兼容逻辑，而政府补贴削弱了这种负面影响，媒体对这些企业的负面报道则加强了这种影响。研究结果表明，国有制对中国民营企业对外直接投资的影响主要体现在制度不兼容逻辑上。

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

Journal of World Business BUSINESS-

CiteScore

16.50

自引率

11.20%

发文量

期刊介绍： The Journal of World Business holds a distinguished position as a leading publication within the realm of International Business. Rooted in a legacy dating back to 1965, when it was established as the Columbia Journal of World Business, JWB is committed to disseminating cutting-edge research that reflects significant advancements in the field. The journal actively seeks submissions that propel new theoretical frameworks and innovative perspectives on International Business phenomena. Aligned with its domain statement, submissions are expected to possess a clear multinational, cross-border, or international comparative focus, while remaining pertinent to the study of management and organizations. JWB particularly encourages submissions that challenge established theories or assumptions, presenting pioneering or counterintuitive findings. With an inclusive approach, the journal welcomes contributions from diverse conceptual and theoretical traditions, encompassing allied social sciences and behavioral sciences. Submissions should either develop new theories or rigorously test existing ones, employing a variety of qualitative, quantitative, or other methodological approaches. While JWB primarily caters to scholars and researchers, it values contributions that explore implications for Multinational Enterprises and their management, as well as ramifications for public policy and the broader societal role of business.