Place,space, and foreign direct investment into peripheral cities

Perspectives drawn from the economic geography literature are increasingly used to generate insights into locational issues in international business. In this paper, we seek to integrate these literatures further by investigating the locational determinants of foreign direct investment (FDI) into peripheral cities within an emerging economy. Peripheral cities in emerging economies are attracting a growing proportion of global FDI flows, but the international business literature lacks a framework for understanding subnational determinants of FDI, particularly into non-core locations. We draw on the core-periphery model to build and test theory on how spatial interdependencies between subnational locations impact on the distribution of FDI inflows into a large and heterogeneous country China. Our results show that whilst peripheral cities tend to have a negative effect on FDI, this effect is positively moderated by proximity to core cities. The results highlight the importance of considering interactions between place and space when investigating locational issues in international business.     

FDI溢出效应文献综述

本文对FDI溢出领域文献进行了整体的概述,并分类对部分分支进行了综述。综述主要按照整体溢出的差异性的原因分类,包括局部溢出,行业间垂直溢出和空间及时间维度。     

Foreign direct investment: the role of institutional and cultural determinants

Using panel data for 29 source and 65 host countries in the period 1995–2009, we examine the determinants of bilateral FDI stocks, focusing on institutional and cultural factors. The results reveal that institutional and cultural distance is important and that FDI has a predominantly regional aspect. FDI to developing countries is positively affected by better institutions in the host country, while foreign investors prefer to invest in developed countries that are more corrupt and politically unstable compared to home. The results indicate that foreign investors prefer to invest in countries with less diverse societies than their own.     

Financial components of FDI and choice of capital structure: an analysis for 30 OECD countries

Even though the choice of capital structure depends on the three different financial components of foreign direct investment (FDI), previous research has regarded FDI as unidimensional rather than multidimensional. This study addresses new findings in the FDI area and investigates the relevant determinants of capital structure in 30 OECD countries from 2006 to 2014 within the framework of a simultaneous equation model. Our primary findings reveal that each component has its own deterministic features driven by relevant policy variables and risks in the market. While an increase or decrease in equity capital shows the ability of the host country to attract new investments, the subsequent components are mostly used to adjust the equity capital investment exposure.     

国际人才流入是否影响我国FDI区位选择

根据相关经验研究及理论模型可知，国际人才流入可通过降低国际贸易壁垒提高贸易自由度。利用2006-2013年中国内地29个省市面板数据，实证分析了国际人才流入对FDI区位分布的影响。结果显示，国际人才流入与地区FDI水平显著正相关，但国际人才流入对FDI区位分布的影响存在一定区域差异。同时，国际人才流入与企业经营环境及地理集聚水平之间存在某种替代效应，即国际人才流入能够在一定程度上弥补由于企业经营环境缺失和地理集聚水平低下带来的负面影响。此外，良好的企业经营环境和较高的地理集聚水平也对FDI区位分布具有重要影响。上述结论对于我国进一步提升外商直接投资国际竞争力及促进我国FDI区域分布平衡具有重要理论参考价值，同时也对其它新兴发展中国家具有启示作用。     

The determinants of FDI location choice in China: a discrete-choice analysis

This study addresses two questions: What are the determinants of foreign direct investment (FDI) location choice in China? What are the factors that determine investors’ choice between ‘Economic zones’ in China on one hand, and ‘other cities’ of China on the other hand? This study shows that FDI location choice is sensitive both on the endowment conditions in different regions/cities/economic zones in China as well as on the country of origin of the FDI. Based on a data set of 1218 observations, the results of the binary logit regressions indicate that the protection of intellectual rights, agglomeration economies, investments in education and gross regional product affect the location choice of FDI in China. This choices, however, varies depending on the origin of the FDI. Policy makers can use these findings to channel FDI to targeted regions/ cities.     

外商直接投资环境效应及区域差异研究——基于面板模型的实证分析

本文在构建和计算环境污染综合指数与存量FDI指标的基础上，采用1997~2012年中国31个省市自治区的省级面板数据实证检验FDI环境效应及其区域差异。结果表明，中国环境污染有明显的惯性特征，存量FDI对环境确有不利影响，“污染避难所”假说在长期内存在。FDI环境效应的区域差异明显，短期来看，FDI对东部地区有不显著的正面影响，却无益于中西部地区环境质量的改善。长期来看，FDI对3个地区皆有不利的影响，且呈现出“东高西低”的梯度特征。     

Emerging Market Multinationals: Coopetition for Global Growth

Since the dramatic geopolitical shift toward liberalization in the last century, emerging‐market multinational enterprises (EMNEs) have become major players in global markets and continue to account for an increasing share of global foreign direct investment (FDI) flows. Given this trend, the questions of how and why EMNEs pursue FDI deserve greater attention. This article builds on recent work that uses resource dependence theory (RDT) to explain EMNE internationalization strategies. We propose that EMNEs, while often resource deficient relative to their developed‐market competitors and, therefore, more dependent on others in the external environment, are uniquely positioned to overcome these deficiencies over time through simultaneous cooperation and competition—coopetition—with their global rivals and host‐ and home‐country governments. These propositions contribute to the EMNE internationalization literature by more fully incorporating RDT into current theories of internationalization, highlighting the importance of managing dependencies over time to maximize global growth. © 2015 Wiley Periodicals, Inc.     

FDI spillovers in the Chinese hotel industry: The role of geographic regions,star-rating classifications,ownership types,and foreign capital origins

Although productivity spillovers have long been recognized to be a major benefit of foreign direct investment (FDI), such spillovers have not yet been systematically studied in the context of the hotel industry. This paper investigates hotel-related FDI spillover effects as well as moderating factors (geographic region, star rating classification, ownership type and foreign capital origin) in China. Evidence from province-level panel data reveals the existence and significance of intra-industry spillovers from foreign to domestic hotels in China, although the nature and magnitude vary based on different moderating factors. Domestic hotels in eastern and western China and those with alliance and limited liability ownership structures benefit significantly from productivity spillovers. Foreign-invested three-star hotels transfer a significant amount of positive productivity, whereas domestic three- and five-star hotels benefit the most from productivity spillovers. Moreover, foreign-invested hotels from Hong Kong, Macau, and Taiwan (HMT) and non-HMT countries generate positive spillovers of similar magnitudes.