技术获取型对外直接投资进入模式选择研究

本文以部分中国电子信息企业技术获取型对外直接投资（OFDI）为样本,运用多元逻辑模型,对技术获取型OFDI进入模式选择进行实证研究。结果表明：技术和文化差距越大、国际经验越丰富,企业更倾向于选择独资新建模式;如果企业规模越大、企业研发能力越强、东道国政策管制越严格、国家风险越大,企业越倾向于选择并购和合资新建模式,同时选择并购模式的概率比选择合资新建模式的概率大。企业应立足自身特性,充分考虑东道国因素,选择合适的对外直接投资进入模式。同时,政府应强化政策支持和导向作用,促进中国企业技术获取型OFDI的稳健发展。

Study on Entry Mode Chioce of Technology-sourcing Outward Foreign Direct Investment

In this paper, the authors use the multivariate logistic model to make an empirical study on entry mode choice of technology-sourcing outward foreign direct investment, taking some electronic information enterprises in China as the sample. The empirical results are as follows. The wider the gaps of technology and culture between the home and host enterprises, and the richer the international experience, the wholly-owned greenfield entry mode is more preferred. However, if the enterprise scale is large, R＆D capability is strong, institutional constraint of the host country is strict and the host country risk is high, M＆A and joint ventures greenfield are more preferred, and in this case, M＆A is more preferred than the joint ventures greenfield. In order to choose the right entry mode of technology-souring OFDI, enterprises should take full account of the factors of the host country and make their decision according to their own characteristics. At the same time, in order to promote development of technology-sourcing OFDI , government should strengthen policy support and guidance.