摘要
鉴于全球跨境投资政策和国际经贸规则的调整和变化,中国在"一带一路"沿线国家承包工程面临的风险与日俱增。本文利用2005-2016年中国对"一带一路"沿线54个国家的跨国面板数据,实证研究东道国制度环境对中国对外承包工程的影响。研究发现,中国企业开展对外承包工程具有东道国"制度环境不确定性偏好"的特征。引入市场因素时,中国企业"走出去"开展对外承包工程存在市场寻求型动机,但市场规模弱化了东道国制度环境对中国企业对外承包工程的不利影响;引入资源因素时,中国企业对外承包工程并未表现出明显的资源寻求型动机,这表明掠夺国外资源的评论是失实的。最后,本文建议政府层面有必要完善针对"一带一路"沿线国家的投资服务和救济机制,全方位保障中国企业的海外投资利益。
In view of the adjustment and change of the global cross-border investment policy and international economic and trade rules, the risk of contracting projects in China along"The Belt and Road"is increasing day by day.Based on the transnational panel data of 54 countries along the"The Belt and Road"in China in the past 2005-2016 years, this paper empirically studies the impact of the institutional environment on China’s foreign contracted projects.It is found that Chinese enterprises have the characteristics of"institutional uncertainty preference"of the host country when they carry out foreign contracted projects. When market factors are introduced, there is market seeking motivation for Chinese enterprises to"go out"to carry out foreign contracting projects, but the market scale weakens the adverse impact of the host country’s institutional environment on Chinese enterprises’ foreign contracting projects;When resource factors are introduced, Chinese enterprises do not show obvious resource seeking motivation in contracting projects. The findings are helpful to further deepen the understanding of the impact of institutional environment on the"going out"mechanism of Chinese enterprises.
作者
周经
王馗
Zhou Jing;Wang Kui
出处
《财经科学》
CSSCI
北大核心
2020年第3期80-91,共12页
Finance & Economics
基金
国家社科基金一般项目“数字经济背景下中国对外投资理性增长与治理机制创新研究”(18BGJ011)。
关键词
“一带一路”倡议
制度环境
“走出去”
对外承包工程
"The Belt and Road" Initiative
Institutional Environment
"Going Out"
Foreign Contracting Projects
