The textile industry is a typical representative of the traditional manufacturing industry and one of the most globalized industries.As China's textile industry has become the investor of the fifth international transfer,the exchange rate risk has become one of the important risks of the textile industry's foreign investment.Based on the panel data of OFDI of China's textile industry to 56 host countries(regions)from 2015 to 2019,the influence of exchange rate risk and bilateral relations of host countries(regions)on OFDI of China's textile industry were empirically analysed.The results showed that the foreign direct investment of China's textile industry had the characteristics of exchange rate risk preference;bilateral relations significantly reduced the exchange rate risk preference tendency of China's textile industry's OFDI;the moderating effect of bilateral relations was more significant in the sample of African countries that have not signed a currency swap agreement with China.
关键词
汇率风险/双边关系/对外直接投资/纺织产业
Key words
exchange rate risk bilateral relationship/outward foreign direct investment/textile industry
维普
万方数据