首页|供应链网络、市场环境与中国企业"抱团出海"

供应链网络、市场环境与中国企业"抱团出海"

扫码查看
本文聚焦中国企业以"抱团出海"方式进入发展中国家市场的经济现象,基于企业异质性和供应链网络构建理论模型,探讨了"抱团出海"与东道国市场环境的关系,并利用企业微观数据对研究假说进行了经验检验.研究结果表明,供应链网络投资可以推动企业到同一国家进行直接投资,而且这一作用在市场环境薄弱的东道国更为明显,说明"抱团出海"有助于企业克服东道国的市场不完备.此外,传导机制分析表明,供应链网络投资可以通过信息传递和产销支撑帮助企业克服东道国的市场不完备.企业异质性分析表明,"抱团出海"更有益于规模小、年龄轻、资本密集度低的企业.本研究加深了对企业"抱团出海"现象的理解,也为夯实国内供应链网络以推动企业健康和有序的"走出去"提供了政策启示.
Supply Chain Networks,Market Environments and Chinese Enterprises"Going Global in Groups"
This paper investigates the economic phenomenon of Chinese firms entering developing countries in a globalised manner as a group.Drawing on the literature on firm heterogeneity and supply chain networks,it proposes a theoretical model to explore the relationship between group globalisation and host country market environments,and empirically tests research hypotheses using firm-level data.The baseline estimate and robustness checks reveal that investment in supply chain networks can eventually drive firms to make direct investments in the same country,and this effect is more pronounced in host countries with weaker market environments,indicating that the group globalisation approach can help firms overcome market incompleteness in the host country.After a series of robustness tests,such as the instrumental variables estimation,the above results remain solid.Analysis of the transmission mechanism suggests that supply chain network investment can help firms overcome market incompleteness in the host country through information transmission and production and sales support.In addition,the analysis of firm heterogeneity shows that group globalisation is more useful for small,young and less capital-intensive firms to overcome the incompleteness of the host country market.These findings enrich the understanding of the phenomenon of firms globalising in groups and provide policy implications for strengthening national supply chain networks with a view to better promoting the globalisation of firms in a healthy and orderly manner.

supply chain networksmarket incompletenessoutward foreign direct investment(OFDI)

罗长远、陈智韬、李铮

展开 >

复旦大学世界经济研究所 国家发展与智能治理综合实验室 上海市国权路600号 200433

复旦大学经济学院

供应链网络 市场不完备 对外直接投资

国家社会科学基金重大项目

21&ZD075

2024

世界经济
中国世界经济学会,中国社会科学院世界经济与政治研究所

世界经济

CSTPCDCSSCICHSSCD北大核心
影响因子:2.733
ISSN:1002-9621
年,卷(期):2024.47(7)
  • 14