摘要
在制度套利逻辑框架下,以2010~2020年中国沪深A股上市跨国企业的对外直接投资(OFDI)项目为研究样本,运用Cox比例风险模型,考察营商环境距离对跨国企业OFDI生存绩效的影响与作用机制。研究发现,营商环境距离(包括顺差和逆差)对跨国企业OFDI生存绩效有显著促进作用。机制检验表明,国际化速度在二者关系中发挥中介作用;冗余资源会弱化营商环境距离与国际化速度的关系,且非沉淀性冗余的负向调节作用更加显著。异质性检验表明,在非国有企业、小规模、制造业跨国企业中,营商环境距离对跨国企业OFDI生存绩效的促进作用更显著。
Under the framework of institutional arbitrage logic,this study uses samples of outward foreign direct investment(OFDI)projects of Chinese Shanghai and Shenzhen A-share listed multinational enterprises(MNEs)from 2010 to 2020 to study the impact of business environment distance on the survival performance of MNEs’OFDI in emerging economies.Cox proportional risk model was applied,and the findings suggest that business environment distance(including surplus and deficit)has a positive impact on the survival performance of MNEs’OFDI.The mechanism test shows that the internationalization speed plays a mediating role in the relationship between the two.In addition,the slack resources(especially unabsorbed slack resources)mitigate the inhibition of business environment distance on the internationalization speed.Further,business environment distance promotes the survival performance of MNEs’OFDI more significantly in non-state-owned enterprises,small multinational enterprises as well as manufacturing multinational enterprises.
作者
衣长军
李楚薇
李蕾
陈初昇
YI Changjun;LI Chuwei;LI Lei;CHEN Chusheng(Huaqiao University,Quanzhou,Fujian,China)
出处
《管理学报》
北大核心
2025年第2期242-250,共9页
Chinese Journal of Management
基金
福建省高校以马克思主义为指导的哲学社会科学学科基础理论研究资助重点项目(FJ2025MGCA012)。
关键词
营商环境距离
跨国企业OFDI
生存绩效
制度套利
business environment distance
MNEs’OFDI
survival performance
institutional arbitrage
