中国企业海外市场进入模式的驱动机制研究  

Overseas Market Entry Strategy of Emerging Market Multinational Enterprises

作　　者：谭晓霞 吴小节[1] 马美婷 汪秀琼[2] Xiaoxia Tan;Xiaojie Wu;Meiting Ma;Xiuqiong Wang(School of Management,Guangdong University of Technology;Department of Tourism Management,South China University of Technology)

机构地区：[1]广东工业大学管理学院 [2]华南理工大学旅游管理系

出　　处：《管理学季刊》2022年第4期50-71,145,146,共24页Quarterly Journal of Management

基　　金：国家自然科学基金项目(71872053,72272038);国家社会科学基金项目(20BGL032);中央高校基本科研业务费专项资金项目(ZLTS2021009)资助。

摘　　要：相比于发达国家跨国公司,新兴经济体跨国公司似乎更倾向于采用高股权控制的海外市场进入模式。对于这一现象,虽然IB学者提供了不同的理论解释,但由于各理论侧重点不同,关注的具体情景及影响因素也不同,学界对此尚未达成共识。本文以2009~2018年1275例中国企业对外直接投资事件为例,采用模糊集定性比较分析方法,从制度和企业资源两个角度探究东道国制度环境、制度距离、文化距离、跨国经验、政治资源和研发能力六大因素的相互作用对中国企业海外市场进入模式选择的影响。研究发现,中国企业海外市场进入模式存在五种驱动机制,它们分别是制度逃逸-资源探索(跳板)型、政治能力利用型、制度逃逸-研发和经验利用型、研发和经验利用型及政治支持型。此外,本文进一步讨论了不同理论视角对新兴经济体跨国公司海外市场进入模式驱动机制的有效解释范围以及构型结果对OLI范式和Uppsala模型的理论贡献。Purpose:The purpose of this article is to explore the driving mechanisms of the overseas market entry strategy of emerging market multinational enterprises(MNEs).Compared with developed country MNEs,emerging market MNEs seem to be more risk-seeking in their overseas market entry strategy,as reflected in the tendency to choose high equity control.Though IB scholars have provided different theoretical explanations from the institutional and resource perspectives to understand this unique phenomenon,there is no consensus on the driving mechanisms of the overseas market entry strategy of emerging market MNEs.In other words,we still lack a comprehensive understanding of the driving mechanisms of the overseas market entry strategy of emerging market MNEs.Design/methodology/approach:This paper analyzes the foreign direct investments of 1275 Chinese MNEs during 2009-2018,using a fuzzy-set qualitative comparative analysis(fsQCA)method to explore the interaction effects of six factors on the Chinese MNEs’overseas market entry strategy from the institutional and resource perspectives.These six factors include host country institutional environment,institutional distance,cultural distance,international experience,political resources and R&D capability.Findings:This paper has four main research findings.First,this paper identifies five patterns,including institutional escape-resource exploration(springboard),political capacity exploitation,institutional escape-experience and R&D exploitation,R&D and experience exploitation,and institutional support.Secondly,the availability of firm ownership advantage is not a necessary factor affecting the choice of overseas market entry mode for all emerging market MNEs,and MNEs lacking ownership advantage may also choose the wholly-owned overseas market entry mode.Thirdly,ownership advantage is not only derived from the firm’s market competitive advantages(such as technology,brand,management,etc.),but also from the firm’s non-market competitive advantages(such as the home country-rel

关 键 词：新兴经济体跨国公司 市场进入模式 模糊集定性比较分析(fsQCA) 制度 企业资源 中国企业 

分 类 号：F125[经济管理—世界经济] F279.2