What drives China outward FDI - An empirical test based on firm-level data

[[abstract]]本研究以資源基礎理論、產業競爭理論與制度理論三種觀點，探究什麼促成中國企業對外直接投資的因素。使用三個觀點以得到來自資源、產業與制度層面對於中國對外直接投資的影響結果。研究架構分為兩個層面，第一個層面為探討中國大陸企業進行對外直接投資的因素；第二個層面為探討製造業分群下中國大陸企業進行對外直接投資的因素。 研究使用採用1999年至2010年間中國進行對外直接投資之企業資料作為研究對象，共計有237家中國企業為本研究樣本資料。建立在中國企業層級資料的實證研究基礎上，研究主要想了解中國企業之內部資源與外部環境，如何影響對外直接投資結果。 根據實證結果發現，企業本身的資源優勢、產業競爭的程度與政府的政策支持，確實會影響中國企業對外直接投資。因此，對於中國政府當局及中國跨國企業管理者，若想要擴大企業對外直接投資之規模，應同時考慮資源、產業、制度三個層面的影響，來制定完善的政府政策與採取企業適當的策略手段。[[abstract]]This study examines the forces of driving outward FDI of Chinese firms, testing insights from Resource-based view (RBV) theory, industrial theory, and institutional theory to the firma. On the one hand this approach enables us to consider three perspectives of analysis - resource, industry and institution. On the other hand, we examined the forces driving outward FDI of Chinese manufacturing firms. We use the Chinese firm-level data from 1999 to 2010. There are a sample of 237 Chinese firms for this study. Using an empirical test based on Chinese firm-level data, enable us to examine how a Chinese firm’s internal resource and its external environment play the role in outward FDI. Our empirical results indicate that the firm-specific advantage, degree of competition within the industry, and the Chinese government support will lead to the result of Chinese firm outward FDI. While establishing policies or developing strategies to increase the scale of outward FDI, Chinese government and the managers of Chinese-based Multinational Enterprises should consider the resource, industry and institution three perspectives.[[note]]碩