【摘要】 随着世界经济不稳定不确定因素的增加，中国出口贸易面临严峻挑战和风险。文章将出口国内增加值率与企业出口决策纳入同一分析框架，构建了一个包含全球价值链的异质性企业模型，以探究全球价值链嵌入影响企业出口风险的内在机制。研究发现：全球价值链嵌入显著降低了企业出口风险；机制检验表明，企业参与全球价值链通过优化市场组合，即从拓宽市场范围和淘汰非核心市场两个方面分散企业出口风险；进一步分析发现，该作用效果对于中高技术产品出口企业、一般贸易企业、高市场化程度地区企业以及出口至发展中经济体企业更为突出。文章为更好地抵御外部冲击、保持外贸稳定增长提供决策参考。更多还原

【Abstract】 With the increase in unstable and uncertain factors in the world economy, China’s export trade faces severe challenges and risks. This paper incorporates domestic value-added rate of exports and export decision-making of the enterprises into the same analytical framework and constructs a heterogeneous enterprise model that includes global value chain(GVC) to explore the internal mechanism of the impact of GVC embedding on export risks of the enterprises. The research shows that: GVC embedding significantly reduces export risks of the enterprises; mechanism test reveals that the participation of the enterprises in GVC can disperse export risks of the enterprises by optimizing market portfolio, including broadening market scope and eliminating non-core markets; further analysis indicates that this effect is more significant for the enterprises exporting medium-tech and high-tech products, general trade enterprises, the enterprises in the regions with high degree of marketization and the enterprises exporting to the developing economies. This paper provides decision-making references for better resisting external shocks and maintaining stable growth of foreign trade.更多还原