Based on the OFDI data of 4616 Chinese companies in America during the period of 2004-2014, the paper analyzed the characteristics of industrial structures and geographical distributions, as well as their changing trends. Then it built an OFDI location decision model combined with the attributive characters of host country and relationship characters of host country-home country. Finally it quantitatively recognized the country determinant and the discrepancy among different industries. The research found the following conclusions. Firstly, the geographic distribution of China's OFDI in America was highly concentrated, with service industry as the main industry. State-owned enterprises were the main investors of OFDI and private companies were not so active in terms of investment. As time went on, the OFDI distribution in different countries tended to be discrete, with an uptrend of manufacture industry and a downtrend of service industry. Besides, the proportion of private companies involved was increasing. Secondly, the main body of China's OFDI in America was domestic manufacturers, and their investment was highly concentrated on the industries of wholesale & retail, commercial service, import & export trading, etc. The above facts indicated their participation in building international value-added chain and globalization, and verified their gradual and continuous course of international expansion. Unlike the extension of manufacturers to service industry, import & export trading companies and commercial service companies mainly focused on further development of their original main business advantage. Thirdly, the introduction of relational variables effectively promoted the depth of the explanation on OFDI country difference. Export had prominently promoted OFDI, which accorded with the performance of complementary model, and showed that China's OFDI in America was still in the initial stage of understanding overseas markets. At the initial stage, good and close political and social relationships could effectively promote OFDI, and private companies were playing a less important role than state-owned companies. Fourthly, the market seeking motivation was the most obvious motivation for China's OFDI in America, while energy access motivation, technology acquisition motivation and production cost reducing motivation were not fully confirmed by the model. Fifthly, unlike wholesale and retail industries, commercial service industry and manufacturing industry which commonly pursued market scale, the industry of geological exploration and development industries, focused more on resources searching, which determined good political relationships and the special importances of state-owned enterprises.
ZhangY.China's emerging global businesses: Political economy and institutional investigations., 2003(1): 288-289.
SalisjanovaN.Going out: An overview of China's outward foreign direct investment. US-China Economic and , 2011, 30: 15-17.
RamasamyB, YeungM, LaforetS.China's outward foreign direct investment: Location choice and firm ownership. , 2012, 47(1): 17-25.http://www.sciencedirect.com/science/article/pii/S1090951610000738
This article evaluates the international location decisions made by public listed Chinese firms during the period 2006鈥2008, using a Poisson count data regression model. Further, we categorize the firms into state-controlled and privately owned according to majority ownership. We find that the determinants of internationalization differ based on ownership. State-controlled firms are attracted to countries with large sources of natural resources and risky political environments. Private firms are more market seekers. Although all firms have strategic intent, the attraction is commercially viable technology rather than core research content. Our findings also show that existing theories can sufficiently explain the actions of private Chinese firms, but adjustments are needed to understand the behavior of state-controlled multinationals.
KolstadI, WiigA.What determines Chinese outward FDI? , 2012, 47(1): 26-34.http://www.sciencedirect.com/science/article/pii/S109095161000074X
Chinese outward foreign direct investment (FDI) has increased substantially in recent years. Though this has generated considerable interest in the motivations and drivers of Chinese investment abroad, there have been few systematic empirical studies of these questions. This paper performs an econometric analysis of the host country determinants of Chinese outward FDI in the period 2003鈥2006. We find that Chinese outward FDI is attracted to large markets, and to countries with a combination of large natural resources and poor institutions. Disaggregation shows that the former effect is related to OECD countries, whereas the latter interaction effect holds for non-OECD countries.
HongE, SunL.Go Overseas via direct investment: Internationalization strategy of Chinese corporations in a comparative prism. SOAS, University of London 20//Wu Friedrich, Yoeo Han Sia. “China’s rising investment in Southeast Asia: Trends and Outlook”. , 2002, 41-61.
Cheung YW, QianX.Empirics of China's outward direct investment. , 2009, 14(3): 312-341.http://onlinelibrary.wiley.com/doi/10.1111/j.1468-0106.2009.00451.x/full
Abstract Top of page Abstract 1. introduction 2. preliminary discussion 3. empirical determinants 4. additional analyses 5. concluding remarks references appendix i:additional figures appendix ii:country groupings appendix iii:variable definition and data sources Abstract.鈥 We investigate the empirical determinants of China's outward direct investment (ODI). It is found that China's investments in developed and developing countries are driven by different sets of factors. Subject to the differences between developed and developing countries, there is evidence that: (i) both market-seeking and resource-seeking motives drive China's ODI; (ii) Chinese exports to developing countries induce China's ODI; (iii) China's international reserves promote its ODI; and (iv) Chinese capital tends to agglomerate among developed economies but diversify among developing economies. Similar results are obtained using alternative ODI data. We do not find substantial evidence that China invests in African and oil-producing countries mainly for their natural resources.
Howell LD, ChaddickB.Models of political risk for foreign investment and trade: An assessment of three approaches., 1994, 29(3): 70-91.http://www.sciencedirect.com/science/article/pii/0022542894900485
While political risk methods have been used extensively for the last two decades, little has been done to test any of their projections against actual losses. This study compares the 1986 projections of The Economist, Political Risk Services, and BERI against losses incurred in the 1987–1992 period. Discussion focuses on how to determine the extent of losses by foreign investors and on pinpointing the source of those losses. It stresses the connection between theory and profit/loss consequences for businesses and the impact of poorly tested methods on corporate strategic planning.
Henry Wai-chungYeung, LiuWeidong. Globalizing China: The rise of mainland firms in the global economy. , 2008, 49(1): 57-86.http://www.tandfonline.com/doi/abs/10.2747/1539-7220.127.116.11
Two economic geographers survey the changing trends of China's outward foreign direct investment. Based on materials derived from original field work as well as published studies, they shed light on the major mechanisms through which mainland China's leading firms have successfully ventured abroad, as evidenced by proposed or realized acquisitions of significant corporate entities in the United States, Africa, Europe, and elsewhere in Asia. The authors argue for a political-economy approach to understanding "globalizing China," a complex phenomenon whereby the Chinese state is strategically and intricately enmeshed with the corporate interests of its leading business firms. Journal of Economic Literature, Classification Numbers: F23, L21, L22, M16. 3 figures, 3 tables, 128 references.
MorckR, YeungB, ZhaoM.Perspectives on China's outward foreign direct investment. , 2008, 39(3): 337-350.http://link.springer.com/article/10.1057/palgrave.jibs.8400366
Recent economic data reveal that, at the infant stage, China's outward foreign direct investment (FDI) is biased towards tax havens and Southeast Asian countries and are mostly conducted by state-controlled enterprises with government sanctioned monopoly status. Further examination of China's savings rate, corporate ownership structures, and bank-dominated capital allocation suggests that, although a surge in China's outward FDI might be economically sensible, the most active players have incentives to conduct excessive outward FDI while capital constraints limit players that most likely have value-creating FDI opportunities. We then discuss plausible firm-level justifications for China's outward FDI, its importance, and promising avenues for further research.
Cai KG.Outward foreign direct investment: A novel dimension of China's integration into the regional and global economy. , 1999, 160(2): 856-880.http://journals.cambridge.org/article_S0305741000001363
It is now receiving wide attention that since the adoption of the open-door policy at the end of the 1970s China has been extremely successful in attracting foreign direct investment (FDI). Particularly, according to UNCTAD'sWorld Investment Report 1997: Transnational Corporations, Market Structure and Competition Policy, China has become the second largest recipient of FDI in the world since 1993, after the United States. On the other hand, however, it seems less noticed that China has also become a growingly important FDI exporting country. According to UNCTAD's same report, China now ranks as one of the largest outward investors among developing economies in the 1990s. By the end of 1996, the cumulative stock of Chinese outward FDI had reached over $18 billion, next only to Hong Kong ($112 billion), Singapore ($37 billion) and Taiwan ($27 billion). Consequently, China increased its share in world-wide FDI outflows from less than 0.5 per cent until 1991 to an average of 1.3 percent in 1991鈥95. As China is rapidly rising as a new economic power, its deepening participation in the regional and global economy, through both inward and outward FDI as well as trade, will inevitably bring about significant implications in the international political economy. This article attempts to explore the development of Chinese outward FDI, its characteristics and motives, the outward FDI regime, the government's policies and existing problems, and the prospects for the future trend of Chinese outward FDI.
Mundell RA.International trade and factor mobility. , 1999, 47(3): 321-335.http://www.jstor.org/stable/1811242
Two aqueous suspensions, one containing crystals of uniform size and the other containing colloidal particles, were made with each of seven solid contact poisons (two DDT-analogues, DDT, rotenone, 2-bromomercurithiophen, dieldrin and endrin). The relative toxicity of each pair of suspensions was found in dipping or measured-drop tests on as many as possible of the species Oryzaephilus surinamennsis L., Tribolium castaneum Herbst and Tenebrio molitor L. In addition, some tests were made by injection of colloidal suspensions. In each test, insects were kept after treatment at two temperatures: 28 degrees C. and 11, 17 or 20 degrees C.; counts of kill were made after 24 hr. The tests measured three different kinds of temperature coefficient of insecticidal action. In the contact tests, the colloid was nearly always more toxic than the crystals. In all the tests, except those with dieldrin, the relative toxicity (colloid : crystals) was greater at the lower after-treatment temperature, i.e. the temperature coeficient of the relative toxicity was negative. But in the case of dieldrin, the coefficient was positive. The DDT-analogues, DDT, rotenone and endrin were more toxic at the lower after-treatment temperature, i.e. they had negative temperature coefficients of kill by contact action. In all these cases the temperature coefficient of kill by contact action was greater for colloid than for crystals. Dieldrin and 2-bromomercurithiophen had positive temperature coefficients of kill by contact action. With dieldrin, the temperature coefficient was greater for colloid than for crystals; but with 2-bromomercurithiophen, the reverse was true. The temperature coeficient of kill by injection was negative for DDT, but positive for dieldrin and endrin; the other poisons were not tested by injection. A possible explanation for the results of the contact tests is given in an Appendix. The explanation is based on a number of assumptions about the penetration of insect cuticle by solid poisons. These assumptions lead to the conclusion that the effect of temperature on the relative toxicity depends on the temperature coefficient of kill by internal action of the poison on the insect. This can be measured by injection tests. If it is negative or zero, the ratio of toxicities (colloid: crystals) by contact action, measured quite soon after treatment of the insects, will be greater at a low temperature after treatment than at a high temperature after treatment; but if the coefficient is positive, the effect of temperature on relative toxicity cannot be foretold. The experimental results seem to confirm the assumptions.
Blonigen BA.In search of substitution between foreign production and exports. , 2001, 53(1): 81-104.http://www.sciencedirect.com/science/article/pii/S0022199600000660
Are foreign production and exports substitutes or complements? Standard theory of the multinational corporation (MNC) assumes substitution, while previous empirical work examining the relationship has generally found strong evidence of complementarity. This study examines product-level data, which more closely fits the assumption of a single-product firm often used in MNC theory, and finds substantial evidence for both a substitution and a complementarity effect between affiliate production and exports with Japanese automobile parts for the US market. I also test for and find evidence of substitution using product-level data on a set of Japanese-produced final consumer goods.
VernonR.Intenational investment and intenational trade in the product cycle. , 1996, 80: 190-207.
JohansonJ, Vahlne JE.The Mechanism of Internationalisation. , 1990, 7(4):11-24.
DongB, GuoG.A model of China's export strengthening outward FDI. , 2013, 27: 208-226.http://www.sciencedirect.com/science/article/pii/S1043951X1200065X
Recent surges of China's outward FDI feature four stylized facts: China's OFDI is predominately conducted by state owned or state controlled enterprises (SOEs); a large proportion of such OFDI takes the form of cross-border M & A; most of the target firms are failing firms, which lead to poor post-merger performance; despite the poor performance, they often receive political resistance from the destination developed countries. In this paper, China's OFDI is characterized in a North-South two-country oligopoly FDI model with a public firm in the South aiming to maximize social welfare instead of only its own profit. It is shown that compared to the fully privatized industry, the public firm is more inclined to conduct cross-border M&A but less efficiency oriented, and such M&A is more harmful to the destination country as a whole. We also show that the public firm is socially desirable for the source country when there is foreign competition. The intuition is that the public firm, although less efficient, minimizes the horizontal externalities and acts as a proxy of the regulator and protects home private firms from foreign competition in the export market. Therefore, such OFDI strengthens private firms' exports to the destination country. (C) 2012 Elsevier Inc. All rights reserved.
QuanLi, Guoyong LiangSr.Political relations and Chinese outbound direct investment: Evidence from firm- and dyadic-level tests. , 2012: 17-28.http://www.researchgate.net/publication/256038681_Political_Relations_and_Chinese_Outbound_Direct_Investment_Evidence_from_Firm-_and_Dyadic-Level_Tests
Chinese outbound direct investment (ODI) has been a controversial phenomenon and an increasingly important research topic. We argue that ignoring the role of in
SchneiderF, Frey BS.Economic and political determinants of foreign direct investment. , 1985, 13(2): 161-175.http://www.sciencedirect.com/science/article/pii/0305750X85900026
Four models explaining the flow of foreign direct investment in 80 less developed countries are econometrically estimated and compared by ex post forecasts. A politico-economic model which simultaneously includes economic and political determinants performs best. The higher the real per capita GNP and the lower the balance of payments deficit are, the more foreign direct investment is attracted. Among the political determinants the amount of bilateral aid coming from Western countries and multilateral aid has a stimulating effect, while help from communist countries has a negative effect. Political instability significantly reduces the inflow of foreign direct investment.
Bendapudi, Singh, Surendra N, et al. Enhancing helping behavior: An integrative framework for promotion planning. , 1996, 60(3): 33-49.http://www.jstor.org/stable/info/1251840
Charitable organizations play a vital role in society, as evidenced by their enormous economic and social impact. Yet, for many of them, soliciting adequate resources to carry out their mandates is a continuing struggle. Confronted with a growing need for their services, fierce competition from other charities and shrinking support from government agencies, charities may turn to marketers for help in developing effective promotional strategies. Unfortunately, marketing literature is unable to provide meaningful guidance because scant research attention has hampered a fuller understanding of why people help. A study integrates relevant research in marketing, economics, sociology and social psychology to advance theoretical understanding of helping behavior. In addition, research propositions regarding specific promotional strategies that charitable organizations cam employ to elicit help are presented.
Baycan-LeventT, Kundark, GulumserA.City-to-city linkages in a mobile society: The role of urban networks in Eurocities in sister cities. , 2008, 10(1): 83-109.http://www.ingentaconnect.com/content/ind/ijstm/2008/00000010/00000001/art00007
Abstract The present paper investigates city-to-city linkages and the role of urban networks in socio-economic development of cities This paper addresses the relationships of 'Eurocities' with their 'Sister Cities' to highlight the contributions of the mutual relationship to trade, tourism, cultural activities and investment. How do the networks of cities increase the interaction between cities and contribute to their socio-economic development? In order to answer this question, the present study evaluates the Sister city experiences of 29 Eurocities from 16 European countries. The results of our study show that the contributions of Sister city relations depend on former relations, quality and quantity of current joint activities, reciprocal visits and benchmarking. The results of our study also show that after signing the Sister city agreements, the number of visitors, students, cultural activities and economic cooperation with entrepreneurs have increased in 50% of both Eurocities and their Sister cities. In the surveyed cities, especially the increase in the number of visitors (59%) and students (52%) is remarkable and it seems by creating an interest about their cultures, cities pull tourists from their Sister cities. Sister city relationship has had also a positive impact on the number of investments in both the cities. However, the most important contribution of Sister city relationship is the increasing number of tourism and cultural activities, joint projects and benchmarking, therefore, the increasing cultural dialogue and common values which will make a great contribution to the construction of global urban culture.
UNCTAD. World Investment Report 1996: Investment, Trade and International Policy Arrangements. , 1996: 23-26.http://www.questia.com/library/1P3-16842114/world-investment-report-1996-investment-trade-and
UNITED NATIONS CONFERENCE ON TRADE AND DEVELOPMENT. NEW YORK, NY AND GENEVA, SWITZERLAND: UNITED NATIONS, 1996. 332 PP. $45 SOFTCOVER.