跨国资本“联姻”提升了中国企业的全球资源配置权吗?——中间品贸易网络视角  

Does the"Marriage"'of Transnational Capital Enhance the Global Resource Allocation Right of Chinese Enterprises:Based on the Perspective of Intermediate Trade Network

作　　者：杨志浩 Yang Zhihao

机构地区：[1]中国社会科学院工业经济研究所,北京100006

出　　处：《复印报刊资料（国际贸易研究）》2023年第10期3-19,共17页INTERNATIONAL TRADE

基　　金：中国社会科学院登峰战略优势学科(产业经济学)项目;浙江财经大学-中国社会科学院大学浙江研究院项目。

摘　　要：提升全球资源配置权是实现“保供应”和“稳发展”的重要举措。本文使用中间品贸易数据,采用贸易网络分析法测算了中国企业在全球中间品贸易网络的中心度,以此刻画企业的全球资源配置权。进一步地,利用外资审批、工业企业、海关和专利等数据,考察了跨国资本“联姻”如何影响国内企业的全球资源配置权。研究发现:跨国资本“联姻”显著提升了企业的全球资源配置权,使用倾向得分匹配、工具变量和安慰剂检验等方法缓解内生性问题后,结论稳健。机制分析表明,跨国资本“联姻”通过信息溢出和技术溢出机制,提升了企业的全球资源配置权。拓展分析表明,在与来自贸易网络枢纽国的外国投资商“联姻”跨部门投资服务业、投资长期运营的合资企业、控股合资企业、获取政府补贴等情境下,跨国资本“联姻”的促进效应更大。本文结论对提升企业全球资源配置权、有效应对国际供应链供给冲击具有重要启示。Recently,enhancing the global resource allocation right of enterprises in the fluctuating international supply environment has become a practical issue.Cross-border investment is an important path for Chinese enterprises to obtain global resource factors and keep the supply chain stable.A large amount of literature has explored the effect of cross-border investment on Chinese enterprises'access to global mineral resources,technological factors,and capital factors from the perspective of equity relations,but few literatures discuss this question from the perspective of"mar-riage"of transnational capital.This paper investigates this issue by using the Foreign Investment Approval Database,the Customs Database,the Industrial Enterprise Database and the Patent Database.The marginal contributions of this article are as follows.First,due to the lack of investor information on joint ventures in China's mainstream microdatabases,it is difficult to identify"marriage"of transnational capital of domestic enterprises.This article obtains the Foreign Investment Approval Database from the Ministry of Commerce,which could identify"marriage"of transnational capital.Existing literatures utilize the same database to examine the effect of"mar-riage"of transnational capital on innovation.Different from existing literatures,this paper examines how"marriage"of transnational capital affect the global resource allocation right of domestic enterprises.Second,this paper examines the mechanisms from the perspectives of information transmission and technology spillovers.Third,this paper innovatively conducts a rich heterogeneity analysis from the perspectives of the nationality of the"marriage"partners,the expected duration of the"marriage"relationship,cross-industry investment behavior,absolute holding behavior,and government subsidy.The research conclusion is as follows.First,the"marriage"of transnational capital significantly improves the glob-al resource allocation right of Chinese enterprises.Mechanism analysis shows that the"marriage"o

关 键 词：跨国资本“联姻” 中间品贸易网络 PageRank中心度 信息溢出 技术溢出 

分 类 号：F279.2[经济管理—企业管理] F125[经济管理—国民经济] F752.7F742