【摘要】 基于交易成本理论和内部化理论,采用2005—2014年来自53个国家和地区的7257家外资企业数据实证研究发现:(1)文化距离越大,外资企业内部贸易比重越高。文化距离增加了市场贸易的交易成本和外来者劣势,促使母公司增加对外资企业知识产品转让和人力资本投入。内部贸易是跨国公司应对文化距离引起的市场失灵的反应,也是应对文化距离产生的外来者劣势的有效手段。文化距离导致内部贸易增加主要是由权力距离和刚柔性的差异所致。(2)文化距离导致的市场贸易内部化趋势随着经营时间延长而下降。经营时间通过权力距离和刚柔性差异对内部化起到了反向调节作用。(3)随着文化距离增大,独资企业比合资企业更倾向于将市场贸易内部化。进入方式通过权力距离和长期导向差异对内部化产生调节作用。更多还原

【Abstract】 Based on the transaction cost theory and the internalization theory, this paper uses the data of foreign enterprises in our country to draw the following conclusions:(1) The higher the cultural distance is, the higher the intra-firm trade proportion of the foreign enterprises. Cultural distance increases the transaction cost and liability of foreignness, and promotes the transfer of knowledge products and human capital investment by foreign companies. Intra-firm trade is the response of multinational corporations to market failure caused by cultural distance, and it is also an effective way to deal with the liability of foreignness caused by cultural distance. Cultural distance leads to the increase of intra-firm trade, which is mainly caused by differences in power distance and masculinity-feminity.(2) The trend of internalization resulting from cultural distance is decreasing along with the extension of operating time. The moderating effect of operating time is caused by the differences of power distance and masculinity-feminity.(3) With the increase of cultural distance, the foreignfunded enterprises with sole proprietorship are more inclined to internalize market trade than joint ventures. The entry mode has a moderating effect on internalization through power distance and long-term orientation. This research is not only a supplement to the culture and trade literature, but also an empirical support for internalization theory.更多还原