文化产品出口、文化认同与企业跨国并购  

Cultural Export,Cultural Identity and Cross-border M&A of Enterprises

作　　者：张欣怡 杨连星[2] ZHANG Xinyi;YANGLianxing(Beijing Language and Culture University,Beijing,China;East China Normal University,Shanghai,China)

机构地区：[1]北京语言大学商学院,100083 [2]华东师范大学经济学院,200241

出　　处：《经济学动态》2023年第7期25-46,共22页Economic Perspectives

基　　金：教育部人文社会科学研究项目(22YJA790078)。

摘　　要：文化贸易是中华文化“走出去”的主要方式,弱化文化壁垒对企业跨国并购的阻碍、促进形成企业跨国并购增速和成效的协同发展格局,对于建设更高水平的开放型经济新体制具有重要意义。本文以文化贸易中的产品出口为基准,通过构建理论模型与跨国并购指标,研究阐释了文化贸易对企业跨国并购存在的多重复杂性影响与作用机制,为衡量文化因素对企业跨国并购的影响提供了新的思路。通过多种稳健性估计,本文发现:文化贸易出口对于企业跨国并购规模、数量以及成效呈现正向促进效应,这种促进效应主要来源于文化贸易出口对贸易伙伴国价值观趋同性的推动作用,即文化产品出口带来了双边文化认同效应;区分文化产品类型看,核心文化产品贸易的影响效应更为显著;此外,在文化差异大、制度环境质量差的东道国,文化贸易对跨国并购的“增量提效”的作用更强。Cultural trade,as the main form of"going out"of Chinese culture,is of great significance for China to build a higher level of open economy.This paper takes cultural trade as a research perspective,and through constructing theoretical models and cross-border M&A indicators,this study illustrates the multiple effects of cultural trade and cross-border M&.A.Through various estimates of robustness,this paper finds that cultural trade export has a positive effect on the scale of cross-border M&A,the incidence of M&.A and the effectiveness of M&.A.And this positive effect mainly comes from the promoting effect on the convergence in value judgment among trading partner countries,namely,cultural products export leads to bilateral cultural identity.The heterogeneity analysis shows that the effect of the trade of core cultural products is more significant.In host countries with large cultural difference and poor institutional quality,the effect of cultural trade on cross-border M&.A is greater.

关 键 词：文化贸易 价值观 文化认同 并购成效 文化制度成本 

分 类 号：F752.62[经济管理—国际贸易] F271[经济管理—产业经济] G125[文化科学]