制度距离视角下中国企业对外直接投资研究  

The Supply Side Reform Path of Chinese Enterprises' Foreign Direct Investment from the Perspective of Institutional Distance

作　　者：叶亚杰[1,2] 

机构地区：[1]武汉理工大学,湖北武汉430070 [2]黄淮学院,河南463000

出　　处：《河南社会科学》2017年第6期112-118,共7页Henan Social Sciences

基　　金：中国残疾人事业理论与实践课题(2014&ZZ0004);2014年河南省高等学校青年骨干教师资助计划项目

摘　　要：自"走出去"战略实施之后,中国对外直接投资(OFDI)长期保持健康较快的发展态势,几乎与美国、日本等对外投资大国并驾齐驱。但是,在多种因素的影响下,中国企业对外直接投资的风险长期存在,甚至在全球范围内,对外直接投资的成功概率也难以达到五成,中国企业有超过1/3的对外直接投资以失败告终。更为重要的是,伴随着企业全球战略的持续推进与跨国并购数量的不断增加,中国企业对外直接投资活动需要面临东道国政治、经济、文化、军事、市场、所有权优势、东道国制度环境等因素的干扰,越来越多的差异性风险不断累积,对企业的生存和发展造成了很大负担。在这一过程中,制度距离被视作影响对外直接投资区位选择的关键因素,这不但会影响到企业的行为范式,还关乎对东道国的选择和对外投资模式的选取。Since the implementation of the ＂go out＂ strategy, China＇s foreign direct investment （OFDI） has maintained a healthy and rapid development for a long time, almost with the United States, Japan and other foreign investment powers. However, under the influence of a variety of factors, the risk of Chinese enterprises＇ foreign direct investment exists for a long time. Even in the global context, the success rate of FDI is difficult to reach 50%, and Chinese enterprises have more than 1/3 of foreign direct investment failure. More importantly, with the number of enterprises continued to promote the global strategy and transnational mergers and acquisitions not only increase Chinese enterprise external direct investment activities if the host country needs to face the political economic cultural and military, market and ownership advantages, the host country institutional environment factors, risk difference more and more accumulate. Caused a great burden on the survival and development of enterprises. In this process, the system of distance is regarded as the key factors affecting foreign direct investment location choice, it will not only affect the behavior of enterprises but also related to the selection of paradigm, to the host country and foreign investment mode selection. In view of this, this article is based on this view, on the basis of the existing literature, analyzes and discusses the institutional distance factors, foreign direct investment Chinese enterprises need to face the risk, investment effect, and based on the supply side reform investment path.

关 键 词：对外直接投资 中国企业 制度距离 供给侧改革 

分 类 号：F27[经济管理—企业管理]