中国民营企业为什么寻求对外直接投资？

IF 2.9 2区经济学 Q1 ECONOMICS

China & World Economy Pub Date : 2023-07-13 DOI:10.1111/cwe.12497

Kui Wang, Shuang Tao

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引用次数: 16

摘要

中国目前正处于经济转型期，要素市场改革仍落后于产品市场改革。本研究从国内要素市场不完善的角度探讨了中国民营企业海外扩张的原因。利用2002年至2020年中国上市公司的数据，研究了私营企业是否进行了对外直接投资，以应对国内要素市场的不完善。研究发现，位于要素市场不完善程度较高地区的私营企业参与对外直接投资的倾向更大。这种影响在具有高生产率或高创新能力的企业以及中小型私营企业中更为明显。

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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Why Do Chinese Private Enterprises Seek Outward Foreign Direct Investment?

China is currently in a period of economic transformation and the reform of the factor market still lags behind that of the product market. This study explores the reasons causing China's private enterprise to expand abroad from the perspective of domestic factor market imperfection. Using data for Chinese listed firms between 2002 and 2020, it examines whether outward foreign direct investment (OFDI) has been undertaken by private enterprises as a response to domestic factor market imperfection. It finds that private enterprises located in regions with greater factor market imperfection have had a greater tendency to engage in OFDI. This effect has been more pronounced among firms with high productivity or high innovation capability, and among medium and small private enterprises.

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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.