The Belt and Road Initiative, political involvement, and China's OFDI

被引：5

作者：

Ding, Haoyuan ^{[1
]}

Li, Yi ^{[1
]}

Wang, Liang ^{[1
,3
]}

Xue, Chang ^{[2
]}

机构：

[1] Shanghai Univ Finance & Econ, Coll Business, Shanghai, Peoples R China

[2] Wuhan Univ, Econ & Management Sch, Wuhan, Peoples R China

[3] Shanghai Univ Finance & Econ, Coll Business, 777 Guoding Rd, Shanghai 200433, Peoples R China

来源：

INTERNATIONAL STUDIES OF ECONOMICS | 2022年 / 17卷 / 04期

基金：

中国国家自然科学基金;

关键词：

Belt and Road Initiative; China; outward foreign direct investment; political involvement; FOREIGN DIRECT-INVESTMENT; CROSS-BORDER MERGERS; CORPORATE SOCIAL-RESPONSIBILITY; FIRM PERFORMANCE; JOINT-VENTURE; ENTRY MODE; DETERMINANTS; UNCERTAINTY; SUBSIDIARY; LOCATION;

D O I：

10.1002/ise3.15

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

The Belt and Road Initiative (BRI) is an important strategy for China. This study examines the effect of political involvement on firms' outward foreign direct investment (OFDI) in belt-road countries after the BRI. Using merged Chinese nonfinancial listed firm data, the fDi Markets database, and the Thomson One database (formerly known as SDC Platinum) for the period 2008-2018, we find that political involvement has positive effect on firms' OFDI in belt-road countries after the BRI. Furthermore, we find that the positive effect is heterogeneous across state-owned enterprises (SOEs) and non-SOEs. Political involvement has a positive effect on M&A for SOEs and Greenfield investment for non-SOEs in belt-road countries after the BRI. Our findings suggest that political involvement promotes firms' OFDI in belt-road countries after the BRI and is helpful to the macro-policy implementation.

引用

页码：459 / 483

页数：25

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