东南亚华人华侨网络与中国企业海外投资的区位选择关系研究（英文）
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摘要
With the implementation of the "Going out" strategy and the Belt and Road Initiative, China's investments have become increasingly influential in the global market. The contemporary literature has revealed how overseas Chinese networks and communities have actively promoted foreign investments into China over the past four decades. Whether this factor can help Chinese capital flow out once again is still ambiguous. This study examines this question by investigating Chinese corporate investments in Southeast Asia from 2001 to 2016. Through the discrete-selection logistic regression model, the study analyzes the correlation between overseas Chinese social networks and the location choices of Chinese corporate investments. The results show the following:(1) overall, there is a significant positive correlation between the population of overseas Chinese in Southeast Asian countries and the location choices of Chinese corporate investments;(2) in terms of the time sequence, the significance of the correlation is increasing, which implies that overseas Chinese have positive impacts on promoting the location choice of Chinese enterprises and that the impact is potentially increasing; and(3) in terms of the industrial structure and corporate functions, the impacts vary and are only significant in some industries and corporate segments.
With the implementation of the "Going out" strategy and the Belt and Road Initiative, China's investments have become increasingly influential in the global market. The contemporary literature has revealed how overseas Chinese networks and communities have actively promoted foreign investments into China over the past four decades. Whether this factor can help Chinese capital flow out once again is still ambiguous. This study examines this question by investigating Chinese corporate investments in Southeast Asia from 2001 to 2016. Through the discrete-selection logistic regression model, the study analyzes the correlation between overseas Chinese social networks and the location choices of Chinese corporate investments. The results show the following:(1) overall, there is a significant positive correlation between the population of overseas Chinese in Southeast Asian countries and the location choices of Chinese corporate investments;(2) in terms of the time sequence, the significance of the correlation is increasing, which implies that overseas Chinese have positive impacts on promoting the location choice of Chinese enterprises and that the impact is potentially increasing; and(3) in terms of the industrial structure and corporate functions, the impacts vary and are only significant in some industries and corporate segments.
With the implementation of the "Going out" strategy and the Belt and Road Initiative, China's investments have become increasingly influential in the global market. The contemporary literature has revealed how overseas Chinese networks and communities have actively promoted foreign investments into China over the past four decades. Whether this factor can help Chinese capital flow out once again is still ambiguous. This study examines this question by investigating Chinese corporate investments in Southeast Asia from 2001 to 2016. Through the discrete-selection logistic regression model, the study analyzes the correlation between overseas Chinese social networks and the location choices of Chinese corporate investments. The results show the following:(1) overall, there is a significant positive correlation between the population of overseas Chinese in Southeast Asian countries and the location choices of Chinese corporate investments;(2) in terms of the time sequence, the significance of the correlation is increasing, which implies that overseas Chinese have positive impacts on promoting the location choice of Chinese enterprises and that the impact is potentially increasing; and(3) in terms of the industrial structure and corporate functions, the impacts vary and are only significant in some industries and corporate segments.
引文
Amighini A,Rabellotti R,Sanfilippo M,2013.Do Chinese state-owned and private enterprises differ in their internationalization strategies?China Economic Review,27(4):312-325.
Buckley P J,Clegg J,Zheng P et al.,2007.The impact of foreign direct investment on the productivity of China’s automotive industry.Management International Review,47(5):707-724.
Burger M J,Knaap B V D,Wall R S,2012.Revealed competition for greenfield investments between European regions.Journal of Economic Geography,13(4):619-648.
Charnley J,Cupic Z,2005.The internationalization of Chinese firms:A case for theoretical extension?Management&Organization Review,1(3):381-410.
Cheng L K,Ma Z,2010.China’s outward foreign direct investment.Economic Journal,91(361):75-87.
De Beule F,Duanmu J,2012.Locational determinants of internationalization:A firm-level analysis of Chinese and Indian acquisitions.European Management Journal,30(3):264-277.
Dunning J H,1980.Toward an eclectic theory of international production.Journal of International Business Studies,22(1):1-3.
Dunning J H,1998.Location and the multinational enterprise:A neglected factor?Journal of International Business Studies,29(1):45-66.
Fu Wenying,Wu Yanfang,2017.Spatio-temporal characteristics and locational determinants for entry mode of German knowledge-intensive FDI in China.Acta Geographica Sinica,72(8):1361-1372.(in Chinese)
Gao L,Liu X,Zou H,2013.The role of human mobility in promoting Chinese outward FDI:A neglected factor?International Business Review,22(2):437-449.
Gao T,2003.Ethnic Chinese networks and international investment:Evidence from inward FDI in China.Journal of Asian Economics,14(4):611-629.
He Canfei,Guo Qi,Zou Peisi,2013.Spatial distribution of China’s foreign direct investment:A perspective of relationship(Guanxi)between China and its host countries.World Regional Studies,22(4):1-12.(in Chinese)
Heiss F,2003.Discrete Choice Methods with Simulation.Cambridge:Cambridge University Press:54.
Hernandez E,2014.Finding a home away from home:Effects of immigrants on firms’foreign location choice and performance.Administrative Science Quarterly,59(1):73-108.
Hsing Y,2015.Blood,thicker than water:Interpersonal relations and Taiwanese investment in Southern China.Environment&Planning A,28(12):2241-2261.
Hsu J,Saxenian A,2000.The limits of guanxi capitalism:Transnational collaboration between Taiwan and the USA.Environment and Planning A,32(11):1991-2005.
Javorcik B.S,?zden?,Spatareanu M,2011.Migrant networks and foreign direct investment.Journal of Development Economics,94(2):231-241.
Jia Yiming,Zhang Yudong,Zhuang Guotu,2016.Annual Report on Overseas Chinese Study.Beijing:Social Sciences Academic Press(China):92-105.(in Chinese)
Karreman B,Burger M J,Oort F G V,2016.Location choices of Chinese multinationals in Europe:The role of overseas communities.Economic Geography,93(2):131-161.
Kelley D,Coner J K,Lyles M A,2013.Chinese foreign direct investment in the United States:Location choice determinants and strategic implications for the State of Indiana.Business Horizons,56(4):443-451.
Kolstad I,Wiig A,2012.What determines Chinese outward FDI?Journal of World Business,47(1):26-34.
Liang Yingying,2014.Determinants and Strategies Research of Chinese Outward Foreign Direct Investment.Tianjin:Nankai University Press.(in Chinese)
Liu X,Gao L,Lu J et al.,2014.The role of highly skilled migrants in the process of inter-firm knowledge transfer across borders.Journal of World Business,50(1):56-68.
Meng Huaying,2008.Ethnic Networks in China’s Foreign Trade:Theory and Evidence.Xiamen:Xiamen University Press.(in Chinese)
Ministry of Commerce of the PRC,National Bureau of Statistics of the PRC,State Administration of Exchange Control,2016.Statistical Communique on China’s Foreign Direct Investment in 2015.Beijing:China Statistics Press.(in Chinese)
Qiu Y,2005.Personal networks,institutional involvement,and foreign direct investment flows into China’s interior.Economic Geography,81(3):261-281.
Ramasamy B,Yeung M,Laforet S,2012.China’s outward foreign direct investment:Location choice and firm ownership.Journal of World Business,47(1):17-25.
Rauch J E,Trindade V,1999.Ethnic Chinese networks in international trade.Singapore,Department of Statistics:116-130.
Saxenian A L,2005.From brain drain to brain circulation:Transnational communities and regional upgrading in India and China.Studies in Comparative International Development,40(2):35-61.
Schmidheiny K,Brülhart M,2011.On the equivalence of location choice models:Conditional logit,nested logit and Poisson.Journal of Urban Economics,69(2):214-222.
Singer D,2006.The role of ethnic Chinese networks in China’s FDI inflows.Economics Honors Projects:2.
Su Liping,2006.Outward FDI:Theories,Practice and China’s Strategy Choices.Xiamen:Xiamen University Press.(in Chinese)
Sung Y W,1995.The fifth dragon:The emergence of the Pearl River Delta.Anesthesia&Analgesia,77(6):1303-1304.
Wang Can,Wang De,Zhu Wei et al.,2015.Research progress of discrete choice models.Progress in Geography,34(10):1275-1287.(in Chinese)
Wang Maojun,Xu Yongping,2017.China’s OFDI in America:Basic features and determinants.Acta Geographica Sinica,72(8):1373-1391.(in Chinese)
Wen Yuyuan,2008.A review of the literature on FDI theories and location decision.Progress in Geography,27(2):60-73.(in Chinese)
Yang C,2006.Overseas Chinese investments in transition:The case of Dongguan.Eurasian Geography&Economics,47(5):604-621.
Yeung H W,2009.Regional development and the competitive dynamics of global production networks:An East Asian perspective.Regional Studies,43(3):325-351.
Yeung H W,Liu Weidong,2008.Globalizing China:The rise of mainland firms in the global economy.Eurasian Geography&Economics,49(1):57-86.
Yiu D W,2011.Multinational advantages of Chinese business groups:A theoretical exploration.Management and Organization Review,7(2):249-277.
Zhou Y,1998.Beyond ethnic enclaves:Location strategies of Chinese producer service firms in Los Angeles.Economic Geography,74(3):228-251.
Zhu Hua,2011.A Study on China’s Outward Foreign Direct Investment:The Developing Stage,Determinants and Countermeasure.Dalian:Dongbei University of Finance&Economics Press.(in Chinese)
Zhuang Guotu,2009.A new estimation of the ethnic Chinese population in Southeast Asia.Journal of Xiamen University(Arts&Social Science),(3):62-69.(in Chinese)
Zhuang Guotu,2011.Historical changes in numbers and distribution of overseas Chinese in the world.World History,(5):4-14.(in Chinese)
Zou Jialing,Liu Weidong,2016.Trade network of China and countries along“Belt and Road Initiative”areas from 2001 to 2013.Scientia Geographica Sinica,36(11):1629-1636.(in Chinese)
Buckley P J,Clegg J,Zheng P et al.,2007.The impact of foreign direct investment on the productivity of China’s automotive industry.Management International Review,47(5):707-724.
Burger M J,Knaap B V D,Wall R S,2012.Revealed competition for greenfield investments between European regions.Journal of Economic Geography,13(4):619-648.
Charnley J,Cupic Z,2005.The internationalization of Chinese firms:A case for theoretical extension?Management&Organization Review,1(3):381-410.
Cheng L K,Ma Z,2010.China’s outward foreign direct investment.Economic Journal,91(361):75-87.
De Beule F,Duanmu J,2012.Locational determinants of internationalization:A firm-level analysis of Chinese and Indian acquisitions.European Management Journal,30(3):264-277.
Dunning J H,1980.Toward an eclectic theory of international production.Journal of International Business Studies,22(1):1-3.
Dunning J H,1998.Location and the multinational enterprise:A neglected factor?Journal of International Business Studies,29(1):45-66.
Fu Wenying,Wu Yanfang,2017.Spatio-temporal characteristics and locational determinants for entry mode of German knowledge-intensive FDI in China.Acta Geographica Sinica,72(8):1361-1372.(in Chinese)
Gao L,Liu X,Zou H,2013.The role of human mobility in promoting Chinese outward FDI:A neglected factor?International Business Review,22(2):437-449.
Gao T,2003.Ethnic Chinese networks and international investment:Evidence from inward FDI in China.Journal of Asian Economics,14(4):611-629.
He Canfei,Guo Qi,Zou Peisi,2013.Spatial distribution of China’s foreign direct investment:A perspective of relationship(Guanxi)between China and its host countries.World Regional Studies,22(4):1-12.(in Chinese)
Heiss F,2003.Discrete Choice Methods with Simulation.Cambridge:Cambridge University Press:54.
Hernandez E,2014.Finding a home away from home:Effects of immigrants on firms’foreign location choice and performance.Administrative Science Quarterly,59(1):73-108.
Hsing Y,2015.Blood,thicker than water:Interpersonal relations and Taiwanese investment in Southern China.Environment&Planning A,28(12):2241-2261.
Hsu J,Saxenian A,2000.The limits of guanxi capitalism:Transnational collaboration between Taiwan and the USA.Environment and Planning A,32(11):1991-2005.
Javorcik B.S,?zden?,Spatareanu M,2011.Migrant networks and foreign direct investment.Journal of Development Economics,94(2):231-241.
Jia Yiming,Zhang Yudong,Zhuang Guotu,2016.Annual Report on Overseas Chinese Study.Beijing:Social Sciences Academic Press(China):92-105.(in Chinese)
Karreman B,Burger M J,Oort F G V,2016.Location choices of Chinese multinationals in Europe:The role of overseas communities.Economic Geography,93(2):131-161.
Kelley D,Coner J K,Lyles M A,2013.Chinese foreign direct investment in the United States:Location choice determinants and strategic implications for the State of Indiana.Business Horizons,56(4):443-451.
Kolstad I,Wiig A,2012.What determines Chinese outward FDI?Journal of World Business,47(1):26-34.
Liang Yingying,2014.Determinants and Strategies Research of Chinese Outward Foreign Direct Investment.Tianjin:Nankai University Press.(in Chinese)
Liu X,Gao L,Lu J et al.,2014.The role of highly skilled migrants in the process of inter-firm knowledge transfer across borders.Journal of World Business,50(1):56-68.
Meng Huaying,2008.Ethnic Networks in China’s Foreign Trade:Theory and Evidence.Xiamen:Xiamen University Press.(in Chinese)
Ministry of Commerce of the PRC,National Bureau of Statistics of the PRC,State Administration of Exchange Control,2016.Statistical Communique on China’s Foreign Direct Investment in 2015.Beijing:China Statistics Press.(in Chinese)
Qiu Y,2005.Personal networks,institutional involvement,and foreign direct investment flows into China’s interior.Economic Geography,81(3):261-281.
Ramasamy B,Yeung M,Laforet S,2012.China’s outward foreign direct investment:Location choice and firm ownership.Journal of World Business,47(1):17-25.
Rauch J E,Trindade V,1999.Ethnic Chinese networks in international trade.Singapore,Department of Statistics:116-130.
Saxenian A L,2005.From brain drain to brain circulation:Transnational communities and regional upgrading in India and China.Studies in Comparative International Development,40(2):35-61.
Schmidheiny K,Brülhart M,2011.On the equivalence of location choice models:Conditional logit,nested logit and Poisson.Journal of Urban Economics,69(2):214-222.
Singer D,2006.The role of ethnic Chinese networks in China’s FDI inflows.Economics Honors Projects:2.
Su Liping,2006.Outward FDI:Theories,Practice and China’s Strategy Choices.Xiamen:Xiamen University Press.(in Chinese)
Sung Y W,1995.The fifth dragon:The emergence of the Pearl River Delta.Anesthesia&Analgesia,77(6):1303-1304.
Wang Can,Wang De,Zhu Wei et al.,2015.Research progress of discrete choice models.Progress in Geography,34(10):1275-1287.(in Chinese)
Wang Maojun,Xu Yongping,2017.China’s OFDI in America:Basic features and determinants.Acta Geographica Sinica,72(8):1373-1391.(in Chinese)
Wen Yuyuan,2008.A review of the literature on FDI theories and location decision.Progress in Geography,27(2):60-73.(in Chinese)
Yang C,2006.Overseas Chinese investments in transition:The case of Dongguan.Eurasian Geography&Economics,47(5):604-621.
Yeung H W,2009.Regional development and the competitive dynamics of global production networks:An East Asian perspective.Regional Studies,43(3):325-351.
Yeung H W,Liu Weidong,2008.Globalizing China:The rise of mainland firms in the global economy.Eurasian Geography&Economics,49(1):57-86.
Yiu D W,2011.Multinational advantages of Chinese business groups:A theoretical exploration.Management and Organization Review,7(2):249-277.
Zhou Y,1998.Beyond ethnic enclaves:Location strategies of Chinese producer service firms in Los Angeles.Economic Geography,74(3):228-251.
Zhu Hua,2011.A Study on China’s Outward Foreign Direct Investment:The Developing Stage,Determinants and Countermeasure.Dalian:Dongbei University of Finance&Economics Press.(in Chinese)
Zhuang Guotu,2009.A new estimation of the ethnic Chinese population in Southeast Asia.Journal of Xiamen University(Arts&Social Science),(3):62-69.(in Chinese)
Zhuang Guotu,2011.Historical changes in numbers and distribution of overseas Chinese in the world.World History,(5):4-14.(in Chinese)
Zou Jialing,Liu Weidong,2016.Trade network of China and countries along“Belt and Road Initiative”areas from 2001 to 2013.Scientia Geographica Sinica,36(11):1629-1636.(in Chinese)
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