| 对外直接投资、信息不对称与华商网络 |
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| 引用本文： | 贺书锋,郭羽诞.对外直接投资、信息不对称与华商网络[J].山西财经大学学报,2010(2). |
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| 作者姓名： | 贺书锋 郭羽诞 |
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| 作者单位： | 上海财经大学国际工商管理学院; |
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| 基金项目： | 上海财经大学211三期项目《企业国际化经营与中国产业安全问题系列研究》子课题《中国企业国际化经营战略研究》的研究成果 |
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| 摘 要： | 信息不对称导致投资机会的稀缺和道德风险的增加,是企业对外直接投资的主要障碍,而华商网络通过信息共享和契约监督机制可以克服这些障碍和风险。本文使用中国2003～2008年对87个国家(地区)的对外直接投资数据,分析华商网络是否通过上述机制影响中国对外直接投资。实证结果发现:华商网络对中国对外直接投资有明显的促进作用,并且这种促进作用在与中国差异较大的非亚洲地区更明显;华商网络主要通过信息共享机制促进中国对外直接投资,契约监督机制的促进作用并不明显。
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| 关 键 词： | 对外直接投资 信息不对称 华商网络 信息共享 契约监督 |
Outward Direct Investment,Information Asymmetry and Ethic Chinese Network |
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| HE Shu-feng,GUO Yu-dan.Outward Direct Investment,Information Asymmetry and Ethic Chinese Network[J].Journal of Shanxi Finance and Economics University,2010(2). |
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| Authors: | HE Shu-feng GUO Yu-dan |
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| Institution: | HE Shu-feng,GUO Yu-dan (School of International Business Administration,Shanghai University of Finance & Economics,Shanghai 200433,China) |
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| Abstract: | Information asymmetry is the main obstacle in the process of enterprises FDI,which leads to the absence of investment opportunities and projects and the risk of moral hazards.Ethic Chinese network can overcome such disadvantages by information share and contract supervision mechanisms.The paper makes an econometric analysis of significance and mechanisms of ethnic Chinese network's impacts on Chinese outward direct investment,using the panel data of Chinese outward direct investment to 87 countries from 200... |
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| Keywords: | outward direct investment information asymmetry ethic Chinese network information share contract supervision |
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