我国企业对外直接投资拉动因素:东道国面板数据分析  

Pull Factors of the Outward Direct Investment of Chinese Enterprises:An Analysis of Host Countries Panel Data

作　　者：张碧琼[1,2] 李论[3] 

机构地区：[1]中央财经大学 [2]中央财经大学金融学院国际金融系 [3]中央财经大学商学院

出　　处：《全球化》2014年第6期64-77,134,共14页Globalization

基　　金：中央财经大学"211工程"三期重点学科建设项目;教育部人文社会科学基金面上项目(项目批准号:10YJA790240)资助

摘　　要：本文在讨论对外直接投资动机及影响因素机制的基础上,研究东道国因素对中国企业对外直接投资的影响。基于面板数据分析的结论表明:东道国的GDP水平与我国企业对外直接投资具有正向关系;东道国的能源产量越高,对于我国的对外投资吸引力越强;东道国的市场开放程度大,对我国对外直接投资具有促进作用;东道国的科技水平越发达,也越能吸引我国对外直接投资。最后,对优化我国企业对外直接投资模式提出了政策建议。This paper studies the impacts of host country factors on the outward direct investment of Chinese enterprises based on a discussion of motivations and influencing factor mechanism of outward direct investment.Our research result, which is based on an analysis of host country panel data, shows that: the GDP of a host country has a positive influence on the outward direct investment of Chinese enterprises; the more higher the energy production of a host country is, the more higher its attraction to China’s investment is; the widening of market openness of a host country promotes China’s outward direct investment; the more developed the science and technology of a host country is, the more investment it attracts from China. Finally, this paper makes some suggestions about optimizing the pattern of the outward direct investment of Chinese enterprises.

关 键 词：FDI 东道国吸引力 面板PCA模型 

分 类 号：F279.2[经济管理—企业管理] F832.6[经济管理—国民经济]