中国企业对外直接投资模式选择路径分析——基于文化差异、交易成本和投资动因的综合模型被引量：3

Analysis on Path Selection to Foreign Direct Investment Mode of China's Enterprise:Based on Comprehensive Model Considering Cultural Difference,Transaction Cost and Investing Motivation

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摘要从文化差异、交易成本和投资动因3个方面对中国企业对外直接投资模式的选择路径进行了分析,运用独立样本检验和逻辑回归方法对中、德投资者进行了实证研究。结果显示:具有不同文化背景的投资者选择的FDI进入模式和经营模式存在显著差异,这种差异导致并购和合资模式下的企业内部交易成本以及绿地投资和独资模式下企业外部交易成本增加。指出:企业应对文化差异带来的内、外部交易成本进行权衡,结合FDI的投资动因正确选择投资模式。 This paper analyzes the path selection to foreign direct investment（FDI） mode of Chings enterprise from three aspects, namely cultur- al difference, transaction cost and investment incentive. Then through independent sample test and logistic regression, it empirically analyzes the difference in the choice to FDI entry mode and business mode by taking Sino-German investors with significantly different cross culture back- grounds as the example. The result shows as follows ; there is the difference in FDI entry mode and business mode chosen by Sino-German inves- tors with different cross culture background,which leads to the increasing of internal transaction cost under the modes of M＆A and joint ven- ture,and external transaction cost under the modes of greenfield investment and wholly owned enterprises. Finally,it points out that enterprises should balance internal and external transaction costs brought about by cultural distance, and combines with investment motives for FDI to choice the investment mode.

作者谢冬梅杨义贾宪洲

机构地区成都中医药大学管理学院

出处《技术经济》 CSSCI 北大核心 2016年第2期94-101,共8页 Journal of Technology Economics

基金四川省科技计划(软科学)资助项目"文化协同与中西医学协同创新行为之关系研究"(2014ZR0171) 教育部人文社会科学研究青年基金项目"沟通对认知差异性医患冲突的化解作用及实验研究"(14YJC630144)

关键词文化差异投资模式跨国并购交易成本对外直接投资 cultural difference investment mode cross-border merger and acquisition transaction cost foreign direct investment

分类号 F125 [经济管理—世界经济] F279.2 [经济管理—企业管理]

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