江苏民营企业对外投资区位选择与驱动因素分析

徐海英; 周潮; 任启龙; 侍非; 毛广雄; 卢勇

doi:10.13959/j.issn.1003-2398.2023.03.016

PDF(11230 KB)

人文地理 ›› 2023, Vol. 38 ›› Issue (3) : 146-154. DOI: 10.13959/j.issn.1003-2398.2023.03.016

经济

江苏民营企业对外投资区位选择与驱动因素分析

徐海英¹, 周潮², 任启龙¹, 侍非³, 毛广雄¹, 卢勇⁴

作者信息 +

RESEARCH ON OUTWARD FOREIGN DIRECTED INVESTMENT (OFDI) LOCATION CHOICES AND DETERMINANTS OF PRIVATE ENTERPRISES IN JIANGSU PROVINCE

XU Hai-ying¹, ZHOU Chao², REN Qi-long¹, SHI Fei³, MAO Guang-xiong¹, LU Yong⁴

Author information +

文章历史 +

摘要

基于社会网络分析法对比分析2015和2019年江苏省民营企业对外投资网络演化特征，并选取其中147家民营企业作为研究对象，采用模糊集定性比较分析法（fsQCA），从企业异质性、投资源地制度环境、东道国制度环境和东道国经济禀赋等多要素组态视角，探索2015—2019年江苏民营企业对外投资区位选择的机制。研究表明：①江苏民营企业对外投资网络呈现空间拓展多元化的分散趋势，反映出区位选择机制的复杂性。中国香港和美国作为最重要投资目的地的空间格局正在发生变化；江苏民营企业对外投资向发达国家和地区流动趋势明显，呈现“风险规避”偏好；沿江城市是重要投资源地，其中苏州民营企业对外投资强度增加显著；城市间对外投资区位拓展关联度不大。②江苏省民营企业对外投资路径归纳为“制度动因下优势寻求”、“高生产效率企业的自然资源寻求”、“国际经验丰富企业的市场寻求”三类六个组态。

Abstract

This paper investigates the OFDI location and the determinants of private enterprises in Jiangsu Province. We use social network analysis method to examine the evolution characteristics of the OFDI network of 147 private enterprises in Jiangsu Province over the year of 2015 and 2019. This paper argues that the location choice of Chinese enterprises' OFDI is a self-selection process with multiple factors jointly constraining and matching regulation. This paper emphasizes the interaction of host country location advantages, enterprises' investment motives and heterogeneity, affecting enterprises' OFDI location choice. The data for the sample in this paper comes from China Stock Market & Accounting Research Database, the data on FDI and OFDI flow from the Statistical Yearbook, and the data on host countries from the Global Governance Report and WDI. There are some findings in this paper as follows: 1) The OFDI network of private enterprises in Jiangsu Province shows a trend of spatial expansion and diversification, reflecting the complexity of location selection mechanisms. 2) The OFDI driven paths of private enterprises in Jiangsu Province are grouped into three categories: 'Advantage seeking under institutional motives', 'natural resource seeking for high productivity enterprises' and 'market seeking for internationally experienced enterprises'.

导出引用

徐海英, 周潮, 任启龙, 侍非, 毛广雄, 卢勇. 江苏民营企业对外投资区位选择与驱动因素分析[J]. 人文地理. 2023, 38(3): 146-154 https://doi.org/10.13959/j.issn.1003-2398.2023.03.016

XU Hai-ying, ZHOU Chao, REN Qi-long, SHI Fei, MAO Guang-xiong, LU Yong. RESEARCH ON OUTWARD FOREIGN DIRECTED INVESTMENT (OFDI) LOCATION CHOICES AND DETERMINANTS OF PRIVATE ENTERPRISES IN JIANGSU PROVINCE[J]. HUMAN GEOGRAPHY. 2023, 38(3): 146-154 https://doi.org/10.13959/j.issn.1003-2398.2023.03.016

中图分类号： F424.2

参考文献

[1] 刘卫东,田锦尘,欧晓理."一带一路"战略研究[M].北京:商务印书馆, 2017:35.[Liu Weidong, Tian Jinchen, Ou Xiaoli. Research on the Belt and Road Strategy[M]. Beijing:The Commercial Press, 2017:35.]
[2] 刘卫东."一带一路"战略的科学内涵与科学问题[J].地理科学进展,2015,34(5):538-544.[Liu Weidong. Scientific understanding of the Belt and Road Initiative of China and related research themes[J]. Progress in Geography, 2015,34(5):538-544.]
[3] 刘卫东,宋周莺,刘志高,等."一带一路"建设研究进展[J].地理学报,2018,73(4):620-636.[Liu Weidong, Song Zhouying, Liu Zhigao, et al. Progress in research on the Belt and Road Initiative[J]. Acta Geographica Sinica, 2018,73(4):620-636.]
[4] 杨柔坚.江苏推进"一带一路"战略的思考[J].宏观经济管理,2015(9):83-84,87.[Yang Roujian. Thoughts on promoting the Belt and Road strategy in Jiangsu province[J]. Macroeconomic Management, 2015(9):83-84,87.]
[5] 周彧,张阳."海外中国"走出去战略模式研究——以江苏为例[J].河海大学学报(哲学社会科学版),2016,18(6):70-74,96.[Zhou Yu, Zhang Yang. Strategic modes of "overseas China" going global:A case study of Jiangsu province[J]. Journal of Hohai University (Philosophy and Social Sciences Edition), 2016,18(6):70-74,96.]
[6] 余官胜,龙文."天生对外直接投资"企业对外投资规模研究——基于民营企业微观层面数据[J].南京财经大学学报,2019(5):86-95.[Yu Guansheng, Long Wen. A study on the outward investment scale of "Born OFDI" firms:Based on micro-level data of private enterprises[J]. Journal of Nanjing University of Finance and Economics, 2019(5):86-95.]
[7] 刘晓凤,葛岳静,赵亚博.国家距离与中国企业在"一带一路"投资区位选择[J].经济地理,2017,37(11):99-108.[Liu Xiaofeng, Ge Yuejing, Zhao Yabo. National distance and Chinese companies' choice of location along the Belt and Road[J]. Economic Geography, 2017, 37(11):99-108.]
[8] 谢宜泽.中国对外直接投资的空间集聚与收敛性分析[J].经济体制改革,2017(3):68-74.[Xie Yize. The analysis on spatial agglomeration and convergence of China's OFDI[J]. Reform of Economic System, 2017(3):68-74.]
[9] 程惠芳,阮翔.用引力模型分析中国对外直接投资的区位选择[J].世界经济,2004(11):23-30.[Cheng Huifang, Ruan Xiang. Analysis on the location choice of China's outward foreign directed investment with gravity model[J]. The Journal of World Economy, 2004(11):23-30.]
[10] 蒋冠宏,蒋殿春.绿地投资还是跨国并购:中国企业对外直接投资方式的选择[J].世界经济,2017,40(7):126-146.[Jiang Guanhong, Jiang Dianchun. Greenfield investment or cross-border mergers and acquisitions:A research on Chinese companies outward investments[J]. The Journal of World Economy, 2017,40(7):126-146.]
[11] 胡兵,邓富华,张明.东道国腐败与中国对外直接投资——基于跨国面板数据的实证研究[J].国际贸易问题,2013(10):138-148.[Hu Bing, Deng Fuhua, Zhang Ming. Influence of host country corruption on China's outward direct investment:An empirical analysis based on cross-country panel data[J]. Journal of International Trade, 2013(10):138-148.]
[12] 郑蕾,刘志高.中国对"一带一路"沿线直接投资空间格局[J].地理科学进展,2015,34(5):563-570.[Zheng Lei, Liu Zhigao. Spatial pattern of Chinese outward direct investment in the Belt and Road Initiative area[J]. Progress in Geography, 2015,34(5):563-570.]
[13] 魏少彬,韦素琼,李航飞.基于社会网络分析的台湾地区对外投资联系及其影响因素[J].台湾研究集刊,2018(6):68-80.[Wei Shaobin, Wei Suqiong, Li Hangfei. Taiwan foreign investment connections and its influencing factors:Based on social network analysis[J]. Taiwan Research Journal, 2018(6):68-80.]
[14] Dunning J H. Trade, location of economic activities and the MNE:A search for an eclectic approach[M]//Ohlin B, Hesselborn P, Wijkman P M, et al. The International Allocation of Economic Activity. London:Macmilan Press,1977:395-418.
[15] 刘志强.制度与中国对外直接投资的理论与实证[D].北京:对外经济贸易大学,2014:10-11.[Liu Zhiqiang. The Theories and Empirical Analysis of Institution and China's OFDI:Based on Firm and Regional Institution Heterogeneities[D]. Beijing:University of International Business and Economics, 2014:10-11.]
[16] 祝继高,王谊,汤谷良."一带一路"倡议下的对外投资:研究述评与展望[J].外国经济与管理,2021,43(3):119-134.[Zhu Jigao, Wang Yi, Tang Guliang. A literature review and research agenda of OFDI under the"Belt and Road"Initiative[J]. Foreign Economics&Management, 2021,43(3):119-134.]
[17] UNCTAD. World Investment Report[R/OL].(1998-08-31)[2022-09-13]. https://unctad.org/webflyer/world-investment-report-1998.
[18] 杨博飞,朱晟君,高菠阳.基于文献视角的海外对华投资和中国对外投资的比较[J].经济地理, 2021, 41(5):122-133.[Yang Bofei, Zhu Shengjun, Gao Boyang. Comparative study of China's overseas investment and foreign investment in China:Based on the existing studies[J]. Economic Geography, 2021,41(5):122-133.]
[19] 刘夏明,王珏,逯建.中国OFDI的研究综述:理论创新与重构[J].中南财经政法大学学报,2016(2):86-95,160.[Liu Xiaming, Wang Jue, Lu Jian. China's OFDI and the breakthrough of OFDI theory:A literature review and research trends[J]. Journal of Zhongnan University of Economics and Law, 2016(2):86-95,160.]
[20] 张栋,许燕,张舒媛."一带一路"沿线主要国家投资风险识别与对策研究[J].东北亚论坛,2019,28(3):68-89,128.[Zhang Dong, Xu Yan, Zhang Shuyuan. Identification and countermeasures of investment risks in main countries along the"Belt and Road"[J]. Northeast Asia Forum, 2019,28(3):68-89,128.]
[21] Buckley P J, Clegg L J, Voss H, et al. A retrospective and agenda for future research on Chinese outward foreign direct investment[J]. Journal of International Business Studies, 2018,49:4-23.
[22] 刘凯,张文文.中国对外直接投资存在制度偏好吗?基于投资动机异质视角[J].宏观经济研究,2018(7):59-75.[Liu Kai, Zhang Wenwen. Is there institutional preference in China's outward foreign directed investment:From the perspective of heterogeneity of investment motivation[J]. Macroeconomics, 2018(7):59-75.]
[23] 王颖,吕婕,唐子仪.中国对"一带一路"沿线国家直接投资的影响因素研究——基于东道国制度环境因素[J].国际贸易问题,2018(1):83-91.[Wang Ying, Lv Jie, Tang Ziyi. An empirical study of the determinants of China's outward foreign direct investment in the"Belt and Road"countries:From the perspective of host country's institutional environment[J]. Journal of International Trade, 2018(1):83-91.]
[24] Ambroziak A A. Review of the literature on determinants of the locational attractiveness of regions[M]//Ambroziak A A. New Cohesion Policy of the European Union in Poland. Switzerland:Springer International Publishing, 2014:1-28.
[25] 杨娇辉,王伟,谭娜.破解中国对外直接投资区位分布的"制度风险偏好"之谜[J].世界经济,2016,39(11):3-27.[Yang Jiaohui, Wang Wei, Tan Na. The puzzle of Chinese OFDI's institutional risk preference in location choice:An empirical investigation[J]. The Journal of World Economy, 2016,39(11):3-27.]
[26] 李童,皮建才.中国逆向与顺向OFDI的动因研究:一个文献综述[J].经济学家,2019(3):43-51.[Li Tong, Pi Jiancai. A study on the motivation of China's reverse and forward OFDI:A literature review[J]. Economist, 2019(3):43-51.]
[27] Tanaka K. Firm heterogeneity and FDI in distribution services[J]. The World Economy, 2015,38(8):1295-1311.
[28] 朱荃,张天华.中国企业对外直接投资存在"生产率悖论"吗?基于上市工业企业的实证研究[J].财贸经济,2015(12):103-117.[Zhu Quan, Zhang Tianhua. Is there"productivity paradox"in Chinese enterprises' OFDI?An empirical analysis based on a sample of listed industrial companies[J]. Finance&Trade Economics, 2015(12):103-117.]
[29] 薛求知,帅佳旖.制度距离、经验效应与对外直接投资区位选择——以中国制造业上市公司为例[J].中国流通经济,2019,33(8):80-90.[Xue Qiuzhi, Shuai Jiayi. Institutional distance, the effect of experience, and OFDI location choice:Taking China's listed manufacturing companies as an example[J]. China Business and Market, 2019,33(8):80-90.]
[30] 陈胜蓝,刘晓玲.公司投资如何响应"一带一路"倡议?-基于准自然实验的经验研究[J].财经研究,2018,44(4):20-33.[Chen Shenglan, Liu Xiaoling. How does corporate investment respond to the Belt and Road Initiative?Evidence from a quasi-natural experiment[J]. Journal of Finance and Economics, 2018,44(4):20-33.]
[31] 杜运周,贾良定.组态视角与定性比较分析(QCA):管理学研究的一条新道路[J].管理世界,2017(6):155-167.[Du Yunzhou, Jia Liangding. Configuration perspective and qualitative comparative analysis (QCA):A new way of management research[J]. Journal of Management World, 2017(6):155-167.]
[32] 赵云辉,陶克涛,李亚慧,等.中国企业对外直接投资区位选择——基于QCA方法的联动效应研究[J].中国工业经济,2020(11):118-136.[Zhao Yunhui, Tao Ketao, Li Yahui, et al. Location choice of Chinese enterprises for outward foreign direct investment:Research on linkage effect based on the QCA method[J]. China Industrial Economics, 2020(11):118-136.]
[33] 冀相豹.制度差异、累积优势效应与中国OFDI的区位分布[J].世界经济研究,2014(1):73-80,89.[Ji Xiangbao. Institutional differences, cumulative advantage effects and geographical distribution of Chinese OFDI[J]. World Economy Studies, 2014(1):73-80,89.]
[34] 王钢,张朝国.中国民营企业对外直接投资区位选择研究——以温州民营企业为例[J].世界地理研究,2013,22(2):97-107.[Wang Gang, Zhang Chaoguo. Research on the location of FDI of Chinese private enterprises:A case of Wenzhou's private enterprises[J]. World Regional Studies, 2013,22(2):97-107.]
[35] 梁育填,黄慧怡,刘逸,等.中国企业投资东南亚国家的影响因素分析——基于企业所有权差异的视角[J].地理科学,2018,38(5):645-653.[Liang Yutian, Huang Huiyi, Liu Yi, et al. Location choice of Chinese multinational enterprise in Southeast Asian based on the perspective of enterprise ownership[J]. Scientia Geographica Sinica, 2018,38(5):645-653.]
[36] 张纪凤,宣昌勇."一带一路"战略下江苏对东盟直接投资研究[J].江苏大学学报(社会科学版), 2017, 19(1):42-45.[Zhang Jifeng, Xuan Changyong. On the Jiangsu outward direct foreign investment to ASEAN in the background of the"Belt and Road Initiative"[J]. Journal of Jiangsu University (Social Science Edition), 2017, 19(1):42-45.]
[37] 陈雯,李平星.江苏如何抢占"一带一路"战略先机[J].唯实,2015(4):23-26.[Chen Wen, Li Pingxing. How does Jiangsu seize the initiative of the Belt and Road strategy[J]. Weishi, 2015(4):23-26.]
[38] 赵静敏,郑凌霄."一带一路"战略背景下江苏开放型经济发展研究[J].商业经济研究, 2017(8):212-214.[Zhao Jingmin, Zheng Lingxiao. Research on the development of Jiangsu's open economy under the background of the Belt and Road strategy[J]. Journal of Commercial Economics, 2017(8):212-214.]
[39] 单天明.江苏民营企业"走出去"模式选择的影响因素研究[D].南京:南京师范大学,2014:15-18.[Shan Tianming. Research on the Influencing Factors of the"Going out"Mode Choice of Jiangsu Private Enterprises[D]. Nanjing:Nanjing Normal University, 2014:15-18.]
[40] Wasserman S, Faust K. Social Network Analysis:Methods and Applications (Structural Analysis in the Social Sciences)[M]. London:Cambridge University Press, 1994:25-28.
[41] 张存刚,李明,陆德梅.社会网络分析-一种重要的社会学研究方法[J].甘肃社会科学,2004(2):109-111.[Zhang Cungang, Li Ming, Lu Demei. Social network analysis:An important sociological research method[J]. Gansu Social Sciences, 2004(2):109-111.]
[42] Kraus S, Ribeiro-Soriano D, Schüssler M. Fuzzy-set qualitative comparative analysis (fsQCA) in entrepreneurship and innovation research:The rise of a method[J]. International Entrepreneurship and Management Journal, 2018(14):15-33.
[43] 朱建民,崔心怡.国际技术并购因素组态与双元创新绩效关系研究[J].科学学研究,2022,40(8):1527-1536.[Zhu Jianmin, Cui Xinyi. Research on the relationship between factor configuration of international technology M&A and dual innovation performance[J]. Studies in Science of Science, 2022,40(8):1527-1536.]
[44] Fiss P C. Building better causal theories:A fuzzy set approach to typologies in organization research[J]. Academy of Management Journal, 2011,54(2):393-420.
[45] 程聪,贾良定.我国企业跨国并购驱动机制研究——基于清晰集的定性比较分析[J].南开管理评论,2016,19(6):113-121.[Cheng Cong, Jia Liangding. Research on the driving pattern of China's enterprise cross-border M&As:A qualitative comparative analysis[J]. Nankai Business Review, 2016,19(6):113-121.]