企业异质性视角下服务业绿地投资与跨国并购的选择——基于服务业细分行业的理论与经验分析  

Choice of Greenfield Investment and Transnational M&A in Service Industry from Perspective of Firm Heterogeneity——Theoretical and Empirical Analysis of Service Industry Sub-sectors

作　　者：陈景华[1] 

机构地区：[1]山东财经大学经济学院,山东济南250014

出　　处：《山东财经大学学报》2015年第3期20-28,共9页Journal of Shandong University of Finance and Economics

基　　金：国家社会科学基金青年项目"企业异质性视角下中国对外直接投资的区位与模式研究"(13CJL036)

摘　　要：不同服务行业内企业异质性的来源不同,导致企业对绿地投资与跨国并购的选择不同。知识和研发技术密集型服务行业内,生产率较高的企业会选择跨国并购,生产率较低的企业会选择绿地投资;人力资源和广告营销密集型行业内,生产率较高的企业会选择绿地投资,而生产率较高的企业选择跨国并购。服务业跨国公司的实践与理论分析的结果基本一致,这在一定程度上可以为中国不同服务行业的企业进行绿地投资与跨国并购的选择提供一定的借鉴和指导。Different service sub - sectors have different origins of heterogeneity and thus have different choices in terms of Greenfield investments and transnational merger and acquisition. The knowledge - intensive and technology -intensive firms with high productivity intend to choose transnational merger and acquisition while those with low productivity intend to choose Greenfield investments ; the labor - intensive and advertising marketing - intensive firms with high productivity intend to choose Greenfield investments while those with low productivity intend to choose transnational merger and acquisition. The practice of multi - national corporations is found basically consistent with the theoretical analysis, and such a finding can provide certain reference and guidance for China service industries to choose Greenfield investment and transnational M＆A.

关 键 词：服务业对外直接投资 企业异质性 绿地投资 跨国并购 

分 类 号：F742[经济管理—国际贸易]