母国区域制度质量对民营企业海外市场进入模式的影响  

Influence of Home Country's Intra-national Institution Quality on Overseas Market's Entry Mode for Chinese Private Enterprise

作　　者：吴小节[1] 谭晓霞 曾华[1] WU Xiaojie;TAN Xiaoxia;ZENG Hua(School of Management, Guangdong University of Technology, Guangzhou 510520, China)

机构地区：[1]广东工业大学管理学院,广州510520

出　　处：《管理科学》2018年第4期120-134,共15页Journal of Management Science

基　　金：国家自然科学基金(71402055;71872053);教育部哲学社会科学研究重大课题攻关项目(15JZD020);教育部人文社会科学基金(18YJAZH099);广东省高等学校优秀青年教师培养计划(YQ2015060)~~

摘　　要：海外市场进入模式是跨国企业实现国际化战略目标的重要战略决策。虽然国内外学者已经意识到制度因素对新兴市场跨国企业海外市场进入模式的影响,但大多集中在对东道国制度环境影响的研究,很少考虑母国区域制度环境的复杂性,且缺乏相应的实证检验。在此背景下,基于制度理论和社会资本理论,探讨母国区域制度质量对中国民营企业海外市场进入模式的影响机理。以规制差异和文化差异为调节变量,以社会资本为中介变量,构建母国区域制度质量与民营企业海外市场进入模式之间关系的概念模型,并以2015年进行海外市场投资的210家中国民营上市企业为研究对象进行实证研究。研究结果表明,(1)母国区域制度质量与民营企业海外市场进入模式呈正相关关系,即所处的母国区域制度质量越好,民营企业更倾向于选择独资的海外市场进入模式;(2)母国与东道国间的规制差异和文化差异负向调节母国区域制度质量与民营企业海外市场进入模式的正向关系;(3)社会资本对母国区域制度质量与民营企业海外市场进入模式的关系起部分中介作用,即民营企业获得的社会资本越多,对市场信息等方面的把控能力越强,越倾向于采用独资的海外市场进入模式。研究结果展现了中国市场分割情景下民营企业海外市场进入模式的独特性,拓展了国际商务领域对新兴国家制度环境的理解和认识,促进了制度理论和社会资本理论在国际商务领域的应用和发展。在管理实践中,民营企业在进行海外市场进入模式决策时,应充分考虑其所在的区域制度环境,同时也要善于构建不同类型的社会资本,以提高企业战略决策的可靠性和有效性。Overseas market＇s entry mode is an important strategy decision for a multicultural enterprise to reach its international goals. Although researchers at home and abroad have realized the influence of institutional factors on overseas market＇s entry mode of emerging market multinationals, most of them focus on the impact of institutional factors on host country＇s institutional environment, and they have rarely thought about the complexity of the intra-national institutional environment in home country, resulting in lacking corresponding empirical test in this field. In this context, based on the institutional theory and social capital theory, this study discusses the influence mechanism between the intra-national institutional quality in home country and the overseas market entry mode of Chinese private enterprises.Using the regulative distance and cultural distance of home country to host country as the moderators, and social capital of the enterprise as the mediator, this study provides a conceptual model for the correlation between the home country intra-national institutional quality and overseas market entry mode of private enterprise. It has empirically tested the correlation with the 210 sampies of Listed Chinese private enterprises which has carried out foreign outward direct investment in 2015. The conclusions of this study show that home country intra-national institutional quality has a significantly positive effect on private enterprise＇s overseas market entry mode. It means that, when the intra-national institutional quality is better, private enterprise will prefer to choose wholly-owned overseas market entry mode. Moreover, the both regulative distance and cultural distance negative moderate the relationship of home country intra-national institutional quality and private enterprise＇s overseas market entry mode. Finally, social capital of private enterprise significantly mediates the relationship of home country intra-national institutional quality and private enterprise＇s overseas market

关 键 词：民营企业 海外市场进入模式 母国区域制度质量 制度差异 社会资本 

分 类 号：F272[经济管理—企业管理]