Heterogeneity of political connections and outward foreign direct investment

被引：112

作者：

Deng, Ziliang ^{[1
]}

Yan, Jiayan ^{[1
,2
]}

van Essen, Marc ^{[2
,3
]}

机构：

[1] Renmin Univ China, Renmin Business Sch, Beijing 100872, Peoples R China

[2] Univ South Carolina, Darla Moore Sch Business, Columbia, SC 29208 USA

[3] EMLYON Business Sch, Ecully, France

来源：

INTERNATIONAL BUSINESS REVIEW | 2018年 / 27卷 / 04期

关键词：

Political connection (PC); Outward foreign direct investment (OFDI); Political hierarchy; Resource dependence theory; State-owned enterprise; Privately-owned enterprise; STATE-OWNED ENTERPRISES; INTERNATIONAL EXPANSION; CORPORATE GOVERNANCE; ENTRY STRATEGIES; FDI OWNERSHIP; MARKET; FIRMS; CHINA; RISK; GOVERNMENTS;

D O I：

10.1016/j.ibusrev.2018.02.001

中图分类号：

F [经济];

学科分类号：

020101 [政治经济学];

摘要：

By examining the heterogeneity of political connections (PCs), this study reconceptualises the relationship between PCs and outward foreign direct investment (OFDI). Drawing upon resource dependence theory, we hypothesise that firms with ascribed PCs benefit from top political privileges in their home market and have a low OFDI commitment. Firms without any PCs have a medium OFDI commitment because they have to avoid the discriminative competition associated with their inferior political status. Firms with acquired PCs possess relatively strong political and market resources and face exchange pressure; thus, they exhibit a high OFDI commitment. The aforementioned hypotheses are supported by empirical results from probit and Tobit models based on panel data of 482 listed Chinese firms with OFDI from 2003 to 2014.

引用

页码：893 / 903

页数：11

共 82 条

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