|Table of Contents|

Research on influencing factors of overseas increase investment of listed companies in China(PDF)

《长安大学学报（社科版）》[ISSN:1671-6248/CN:61-1391/C]

Issue:
2019年03期
Page:
1-15
Research Field:
经济与管理
Publishing date:

Info

Title:
Research on influencing factors of overseas increase investment of listed companies in China
Author(s):
LIU Xiuling; ZHANG Xinyao
School of Economics and Management，Fuzhou University
Keywords:
listed company;  China’s OFDI stock;  host country market;  location
PACS:
F830.59
DOI:
-
Abstract:
  With the constant increase in the scale of overseas investment of China’s listed companies, companies are bound to be affected by the environmental factors in overseas location as well as their previous investment experiences while investing broad, which have strong intertemporal relevance. Therefore, it is necessary to study the influencing factors of overseas investment of Chinese listed companies from the perspective of static and dynamic investment, so as to provide theoretical reference and experience reference for the location choice of overseas investment of Chinese listed companies. Based on the samples of listed multinational corporations in China from 2008 to 2016, this paper selects 12 variables from the corporate and host country levels. The Logit model is used to empirically analyze the influencing factors of overseas investment of listed companies in China, and the disparities in the influencing factors of different regions and industries. The results show that: the company’s capital resource advantage, the management’s preference for corporate scale, the company’s advantage in ownership attribute, the company’s own investment experience, the investment experience of other companies in the same industry, the investment agglomeration of China in the host country, the market information spillover of the host country and the sound economic, political and policy environment of the host country can effectively promote the investment of Chinese listed companies overseas. The ownership attribute of the company has a negative effect on the overseas investment of the listed companies; while there are regional disparities and industrial disparities in the main influencing factors of the overseas investment of the listed companies. Studies hold that Chinese listed companies should take the companies’ own asset structure and the political and economic status quo of the host country into comprehensive consideration while investing abroad, implement appropriate investment decisions in different host countries based on the features and advantages of the companies’ industry, and promote rapid and steady development of overseas investment by grasping investment opportunities and utilizing the industrial agglomeration effect etc.

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Last Update: 2019-08-23