Can Digital Transformation Optimize the Location Distribution of Enterprises'OFDI?
Currently,the scale of China's outward foreign direct investment ranks among the top in the world,but there still exist such problemsas irrational distribution of enterprise OFDI location and so on.In order to improve the quality of overseas investment,it is of theoretical value and prac-tical significance to explore whether digital transformation can optimize the location distribution of en-terprise OFDI.Based on the assumption of enterprise heterogeneity,a gravity model is constructed,and it is found that there exists a U-shaped relationship between geographic distance and OFDI ex-pansion margin.In addition,digital transformation can change the influence of geographic distance on enterprise OFDI expansion margin and optimize the location distribution of enterprise OFDI.The mechanism test reveals that digital transformation can reduce OFDI transaction costs,thus breaking through the limitations of geographical distance on overseas investment and optimizing the location distribution of enterprise OFDI.The heterogeneity analysis reveals that digital transformation can opti-mize enterprise OFDI location distribution with enterprise,regional and industrial heterogeneity.From the spatial dimension,digital transformation can play a role in optimizing the location distribution of enterprise OFDI regardless of whether the investment host country is a high-income economy or a middle-income or low-income economy,and whether it is a Belt and Road country(region)or a non-Belt and Road country(region).From the time dimension,digital transformation can continue to optimize enterprise OFDI location distribution.Based on the above conclusions,it is necessary to ac-tively promote the digital transformation of enterprises,give full play to digitization in optimizing the distribution of enterprises'overseas investment,maintain the stability of geo-economy,and realize deeper global cooperation.
digital transformationoutward foreign direct investmentlocation distributiongeo-graphical distancegravity model
万方数据
维普
