【摘要】 2015年中国成为超越日本的全球第二大对外直接投资国,东道国政治风险是如何影响中国ODI区位选择的?本文采用2005年-2015年1568笔中国企业对外直接投资数据,通过混合LOGIT模型对政治风险、税负、自然资源因素、经济规模因素、资本市场规模因素进行了实证研究。研究发现中国企业对外直接投资倾向于政治风险较高、税负低、自然资源丰富、经济规模较大或资本市场规模较大的国家。此外还详细考察了政治风险五个维度因素对中国ODI的影响,研究发现中国ODI倾向于流入政府稳定性差、外部冲突风险低的国家和地区。更多还原

【Abstract】 China has become the world’s second largest foreign direct investment country in the world beyond Japan in 2015. How does the host country’s political risk affect Chinese ODI location choice? Based on the data of 1568 Chinese enterprises’ outward direct investment from 2005 to 2015, this paper makes an empirical study on the political risk, tax burden and natural resources through the mixed LOGIT model. The study finds that Chinese enterprises’ outward direct investment tends to be a country with a high political risk, low tax burden and abundant natural resources. It also examines the impact of the 12 dimensions of political risk on Chinese ODI, and finds that China’s ODI tends to flow into countries and regions with poor legal rules, unstable government and low levels of national democracy.更多还原