统计研究 ›› 2018, Vol. 35 ›› Issue (1): 32-42.doi: 10.19343/j.cnki.11-1302/c.2018.01.004

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生产率、资本密集度对企业国际化模式选择决策的影响

叶娇 赵云鹏 和珊   

  • 出版日期:2018-01-25 发布日期:2018-01-25

The Impact of the Productivity and Capital-intensity on the Choice of Enterprise Internationalization Models

Ye jiao Zhao Yunpeng He shan   

  • Online:2018-01-25 Published:2018-01-25

摘要: 加入WTO以来,中国在全球贸易中占据了举足轻重的地位,其中出口、对外投资是中国企业国际化的主要模式。为了考察企业生产率与资本密集度对国际化模式选择的影响,本文利用2005-2007年《中国工业企业数据库》和《境外投资企业(机构)名录》,按非出口、仅出口、仅投资和既出口又投资将全部企业划分为四种国际市场参与模式,使用多值Logit模型及相对风险概率对企业国际化模式选择进行检验。结果表明:较高生产率的企业更可能选择对外投资;劳动密集型企业更可能出口,资本密集型企业更可能对外投资;不同地区企业的生产率与资本密集度对企业国际化模式选择的影响具有差异。最后本文进一步从对外投资经营形式角度对对外直接投资的“引致出口效应”进行了解释。

关键词: 出口, 对外投资, 企业生产率, 相对风险概率

Abstract: Since entrying into the WTO, China has occupied a pivotal position in global trade. Especially, export and outward foreign investment are main models of Chinese enterprises internationlization. By utilizing “Chinese industrial enterprise database” and “the list of outward foreign investment enterprises” from 2005 to 2007 and partitioning four internationalization models including non-export, only export, only investment, export and investment, this paper tests the impact of productivity and capital-intensity on the choice of enterprise internationalization models based on multinomial Logit model and relative risk ratio. The results show that enterprises with higher productivity are more likely to choose outward foreign investment; labor-intensive enterprises are more likely to choose export, and capital-intensive enterprises are more likely to choose outward foreign investment; the productivity and capital-intensity impact on the choice of enterprise internationalization models vary among enterprises in different regions. Finally, this paper explains the “induced export effect” of outward foreign direct investment from the perspective of outward foreign investment management models.

Key words: Export, Outward Foreign Investment, Productivity, Relative Risk Ratio