The determinants of Chinese outward foreign direct investment

• 成果类型: Review
• 署名作者: Buckley, Peter J.; Clegg, L. Jeremy; Cross, Adam R.; Liu, Xin; Voss, Hinrich; Zheng, Ping
• 署名单位: University of Leeds
• 刊物名称: JOURNAL OF INTERNATIONAL BUSINESS STUDIES
• ISSN/ISSBN: 0047-2506
• DOI: 10.1057/palgrave.jibs.8400277
• 发表日期: 2007
• 页码: 499-518
• 关键词: china; outward FDI; theory of the multinational enterprise; Chinese multinational firms

摘要

This study investigates the determinants of Chinese outward direct investment (ODI) and the extent to which three special explanations (capital market imperfections, special ownership advantages and institutional factors) need to be nested within the general theory of the multinational firm. We test our hypotheses using official Chinese ODI data collected between 1984 and 2001. We find Chinese ODI to be associated with high levels of political risk in, and cultural proximity to, host countries throughout, and with host market size and geographic proximity (1984-1991) and host natural resources endowments (1992-2001). We find strong support for the argument that aspects of the special theory help to explain the behaviour of Chinese multinational enterprises.