海外投资、经济发展水平与国内就业技能结构——理论机理与基于我国数据的实证研究

本文阐述了当经济发展水平不同时,海外投资如何影响不同技能劳动的就业。实证研究结果表明:当经济发展水平较低时,海外投资会减少高技能劳动就业,增加低技能劳动就业,进而降低就业技能结构;而当经济发展水平较高时,海外投资则能促进高技能劳动就业,减少低技能劳动就业,提升就业技能结构。同时,本文使用分位数回归检验了当就业技能结构处于不同分位数时,海外投资提升就业技能结构的经济发展水平临界值存在的差异,由此可以推断我国企业在不同就业技能结构下的海外投资动机。     

The internationalization of Japanese business: Different approaches,similar problems

In staffing their overseas operations, Japanese firms generally maintain a view that prime positions should be held by the home-country personnel. Having thus decided not to follow the European or American pattern of overseas operations, Japanese firms continue to rely very heavily on their own managerial resources to run fast-expanding operations abroad. However, contrary to a general impression that Japanese managers are adept at working in foreign environments, our study of Japanese subsidiaries in Hong Kong points out that the success rate of their expatriate assignments is not necessarily as high as the figures widely reported by studies conducted elsewhere. This article will attempt to determine the causes of problems related to managerial assignments abroad by examining the practices employed by Japanese firms in the selection and training of managers for overseas assignments.     

中国企业海外矿产资源并购风险评估及控制

海外矿产资源并购主要存在政治和法律风险、宏观经济风险、国际市场风险、资源风险、企业内部财务风险、整合风险等。我国企业在并购前要认真制定并购战略战术,采取科学有效的风险防控措施,稳步拓展海外资源渠道。建立海外矿产资源并购协调机构,避免无序恶性竞争;做好项目所在国政治、法律法规、税务、环评等方面的调查,选择好并购重点国家和区域;加强文化沟通与文化培训,适当开展本土化经营;完善海外并购金融支持体系,降低并购融资风险;立足全球,加快培养海外并购人才;搭建海外企业并购信息交流服务平台,降低信息不对称带来的并购风险。     

1999～2012年我国民营企业境外上市的总结与未来展望

1999～2012年中国民营企业境外上市展现出两方面的特点：境外上市企业的绝对数量逐渐增多,但呈现出波浪式发展的态势;境外上市地点主要集中于香港地区、美国和新加坡等交易所,但是体现出逐步扩展的趋势。民营企业境外上市绝对数量的增加以我国经济特别是私营经济的快速发展为基础;民营企业境外上市的发展呈现出波浪式发展态势主要与境内外融资市场的状况及法律规制相关;外资PE、VC是推动民营企业境外上市的主要力量;民营企业境外上市地点集中主要与各交易所上市交易规则及行业估值的差异有关;民营企业境外上市地点的分散与企业的国际化有关。预测在未来,民营企业境外上市的绝对数量会随着我国经济的发展而增加,而上市地点在集中的前提下会进一步扩展。     

网络海外代购对我国的影响和对策

近年来,新兴的网络海外代购行业迅猛发展,缺乏监管和规范的海外代购逐渐引起政府相关部门的重视。网络海外代购促进国际间资源的优化配置、丰富了国内百姓的消费选择、带给国内企业积极的竞争环境,但会造成国家税收损失,关税保护能力削弱,网上跨境支付可能引发多种金融风险,对国内相关企业尤其零售企业造成冲击,国内消费者和代购商也面临多种风险。解决对策是:规范行业操作标准及相关规范;构建合理完善的电子商务税收法规体系,构建网络信息时代的外汇监管体系;增强消费者风险防范及维权意识,鼓励行业转型及创新。     

Why franchise companies expand overseas

Business format franchising is becoming an increasingly international activity. From 1971 to 1985, U.S. franchisors added foreign outlets at a rate of 17% per year, almost twice as fast as they added domestic outlets (Aydin and Kacker 1990). As a result, by 1990 more than 350 U.S. companies had more than 32,000 franchised outlets overseas. By 2000, 60% of all franchisors in the United States are expected to have outlets overseas (Hoffman and Preble 1993).This study examines the 815 largest U.S. franchisors to understand what capabilities encourage them to expand overseas. It finds that the key capability that predicts the intent to expand overseas is superior capability to reduce franchisee opportunism. Franchisors who seek foreign franchisees have developed a greater capability to bond against and monitor potential franchisee opportunism. The data show that these differences are consistent across all industries in which franchising takes place.The results of this study indicate that foreign entrepreneurs can identify the American franchisors most likely to expand overseas by looking at their pricing structure and their monitoring capabilities. The easy identification of characteristics from which to find American franchisors will help to reduce the search costs of potential foreign franchisees. This reduction in search costs will make the establishment of international franchise relationships less expensive.This study also provides guidance to franchisors interested in expanding overseas. The results show how franchisors can structure their franchise relationships to reduce potential franchisee opportunism. This ability to reduce franchisee opportunism will make it easier for franchisors to enter high-growth foreign markets using the franchising business mode.This study also has implications for researchers. It suggests that international business research examine further the mechanisms by which firms make contractual modes of international business work. Whereas many firms may internalize international market transactions under conditions likely to lead to market failure, the large number of franchisors who use franchising as an international expansion mode despite conditions of market failure suggests that more attention be paid to mechanisms that companies can use to reduce the probability of failure of international contractual transactions. By helping to explain how franchisors monitor foreign franchisees or bond them against opportunistic behavior, this study suggests that the international business literature develop a more complex understanding of the workings of international business transactions than the simple choice of internalization or contractual entry modes.     

Strong Renminbi Policy & the Coming of Age of China's Outward FDI

This,we believe,will be the year of Beijing's strong renminbi policy.Despite concerns about exports,we believe Beijing will keep the CNY pegged against a strong dollar.Combined with cheaper commodity prices and the pressing need of many overseas commodity firms to deleverage,this will create the perfect opportunity for China's firms to significantly ramp up their outward foreign direct investment (FDI).     

美国政府在对外直接投资中的作用及启示

美国政府通过设置有关机构，采取有关鼓励政策和措施，促进了美国海外投资的发展。借鉴美国经验，我国政府应采取措施，从完善法律法规体系及建立健全财政、金融、税收、外汇等配套支持政策体系等方面，强化政府在对外直接投资中的作用，加强信息咨询的支持力度；完善市场制度环境，加快现代化企业制度的建立，促进中国企业集团和跨国公司的成长。     

“一带一路”倡议下投资母国的监管义务与法律对策

随着"一带一路"倡议全面、深入推进,中国企业海外投资进入新时期。然而,"一带一路"沿线国家投资环境复杂,中国企业面临社会责任风险以及沿线国腐败程度较高等新问题。现有国际规则无法有效处理东道国经济发展与这些问题之间的冲突和矛盾,不仅威胁中国企业的经济安全,更影响"一带一路"倡议的顺利实施。实践中,东道国宽松的法律环境、负责任的主权和维护国家形象的需要为母国监管提供了现实基础。因此,中国应以"自我约束"和"规则导向"为前提,在充分借鉴国际经验的基础上强化国内投资法律体系,从企业社会责任和海外反腐败两个方面积极承担投资母国的监管义务,主动规制中国企业的海外投资行为,实现国内法治与国际法治的良性互动。在企业社会责任方面,中国应针对海外投资者企业社会责任问题专项立法,提高中国企业承担社会责任的标准,区分企业性质、承担不同的社会责任标准以及建立社会责任评估体系;在海外反腐败方面,中国应完善惩治海外投资腐败行为的立法并加大执法力度,同时增强"一带一路"沿线国的刑事司法协助以及提高惩治海外投资腐败活动的力度。     

进一步发展黑龙江省对俄边境贸易的对策

黑龙江省对俄边境贸易取得了一定的成就，然而在发展过程中也遇到了种种阻碍和制约。黑龙江省边境贸易的进一步发展应该是以自由贸易区为基础，大力开展加工贸易和服务贸易。在此基础上加大对外投资和劳务合作力度，并以投资带动技术合作，实现全方位的对俄经济合作。     

Firm resources,cultural distance and simultaneous international expansion in the retail sector

Despite the fact that many firms simultaneously expand into multiple new markets, we know very little about why firms choose this type of international expansion instead of sequentially entering new markets. Drawing on the resource-based view (RBV) we argue that in order to engage in simultaneous international expansion firms have to be able to draw on intangible assets, be financially strong, and have international experience that will enable them to reduce and/or shoulder the strains on managerial resources, time compression diseconomies and costs of simultaneously entering multiple new overseas markets. We further expect the strength of these associations to be moderated by the cultural distance between a firm’s home country and newly entered countries. Our analysis of the international expansion of the sales operations of 102 retailers over the period 2003–2012, during which these retailers sequentially or simultaneously entered into a total 836 overseas markets, largely supports our hypotheses. Our study underlines the usefulness of the RBV for understanding simultaneous international expansion as an important phenomenon that has received only scant scholarly attention to date.     

我国企业对外投资绩效的动态特征——以国有大型企业为例的实证分析

本文通过对我国100家国有大型企业的实证分析,揭示了我国企业对外直接投资绩效的动态特征,主要包括:(1)对外投资活动对企业海外经营业绩的改善存在"门槛"效应,只有当企业境外资产存量达到某一临界点之后,企业才能从对外投资中获得正的绩效改善;(2)对外投资活动对企业的规模经济状态存在非线性影响,只有当企业的境外资产存量达到其资产总额的某一临界比率之后,对外投资才会比本土投资更具规模经济性。这表明,企业要获得国际化的成功,必须事先积累起海外扩张的核心能力并做好风险准备;国家对企业"走出去"的政策扶持,应当向处于国际化初级阶段的企业倾斜。     

我国网络海外代购发展及运作模式分析

网络海外代购近年来发展很快,宏观上促进了国际间资源的优化配置,丰富国内百姓消费选择,带给国内商家及国家税收损失。微观而言,消费者也面临产品真伪及质量、售后等问题。对于个人代购者和代购网络来说,也面临涉嫌逃税、输入违禁品等法律风险及商业信用风险。     

The Second China Overseas Investment Fair to Be Held in November

Released by the corresponding press conference, the Second China Overseas Investment Fair is going to be held at the China International Trade Centre in Beijing on November 2nd and No- vember 3rd. The fair will involve wide- ranged industries, including resources- related industries （energy and mineral）,     

Governments,Exports and Growth: Responding to the Challenges and Opportunities of Globalisation

We live in an increasingly globalised world. Trade has consistently grown faster than GDP and has been an important driver of world growth. What role should government play in this process? This paper considers the rationale for government action and the merits of various policies focusing on the UKs experience: the benefits of openness to trade and overseas investment and the merits of tackling barriers that discourage greater participation by firms in international markets. It also considers whether this approach needs to be adapted given current trends in globalisation, concluding that a continued emphasis on openness and addressing market failures will be welfare enhancing.     

海外上市之德国证券市场股票上市规则研究

中国企业在海外证券市场的上市不仅能够拓宽融资渠道,而且促进了这些企业按照国际市场规则进行经营,也有利于国内企业国际竞争力的增强和海外市场的拓展。但是,企业选择上市地点,涉及上市地法律环境、上市公司自身资质等多种因素。因此,中国企业对海外上市地点的选择,应当综合考虑上市的成功基础、上市成本以及维持挂牌的后期资金和技术成本等,尽量降低发行风险和成本,以期最大可能地取得海外融资成功。     

黑龙江省对外投资现状与发展对策——以俄、蒙两国为例

近年来黑龙江省对外投资发展迅速,初步形成了稳步的发展趋势和多元化结构,对俄蒙投资则主要集中在资源领域,同时存在对俄蒙投资的行业与地区过分集中、海外投资经验不足等问题。稳定配套的产业基础、优越的地理位置和发达的物流网络均为黑龙江省对外投资提供了有力保障,继续深化东北亚区域经济合作、实施多元化的海外投资战略将会有力促进黑龙江省对外投资又好又快发展。     

论海外直接投资与贸易的关系

从理论上讲,对外直接投资与国际贸易的关系即存在互补性,也具有相互替代性,这要根据母国(或跨国公司)投资的动机、类型和发展阶段而定.本文回顾了发达国家和发展中国家在此方面的实践,并结合我国海外投资与贸易出口的实际,按几个行业分别分析了海外投资与贸易的互补或替代关系.论文认为,由于投资行业的特点和投资区域的不同,海外投资对我国对外贸易的影响要视具体的投资行业和投资区域而定.从目前看,政府应该给予具有贸易创造效应的海外投资在政策上的大力支持.     

中国海外R&D主体的创新培育

当前,中国海外R&D活动存在"主体性"缺位、大企业跨国R&D活动与中小民营科技企业之间存在体制性阻隔、海外R&D微观主体的低层次性及其在国际R&D联盟中被"边缘化"等问题。上述问题严重制约海外R&D投入效益及对外投资国际竞争力的提升。为此,应加强中国海外R&D主体结构的转型升级,构建大企业与中小科技型企业海外R&D互动机制,大力培育"小巨人"跨国公司,并使其逐步成为中国海外R&D的微观主体。     

对外直接投资与国际贸易的关系

从理论上讲,对外直接投资与国际贸易的关系既存在创造效应,也具有替代效应,这要根据母国(或跨国公司)投资的动机类型和发展阶段而定。本文回顾了对外直接投资与贸易关系的理论,分别对发达国家和发展中国家对外直接投资与贸易关系进行了实证研究,并结合我国海外投资与贸易的实际,按行业类别分析并论证海外投资与贸易的互补与替代关系,但这种互补及替代性却因母国(或跨国公司)投资的动机、类型、行业和发展阶段不同而有异。当前,政府应该给予具有贸易创造的海外投资在政策上的大力支持。