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首页> 外文期刊>Journal of Multinational Financial Management >Regulatory institutions, natural resource endowment and location choice of emerging-market FDI: A dynamic panel data analysis
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Regulatory institutions, natural resource endowment and location choice of emerging-market FDI: A dynamic panel data analysis

机译:监管机构,自然资源end赋和新兴市场外国直接投资的地点选择:动态面板数据分析

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摘要

This study extends emerging market (EM) foreign direct investment (FDI) research by integrating the institution-based view and the locational advantage perspective to investigate the interactive effects of natural resource endowment in a host country and institutional factors on location choice of EM multinational enterprises (MNEs). Based on Chinese FDI to 62 countries, our results show that host country attractiveness of natural resource endowment is contingent on the institutional constraints from both host and home country settings. While political risk positively moderates the direct link between natural resource endowment and FDI, economic freedom and institutional distance negatively moderate the link. That is, natural resource endowment is more attractive to FDI by Chinese MNEs when political risk is high and economic freedom and institutional distance are low.
机译:这项研究通过整合基于机构的观点和区位优势的观点,扩展了新兴市场(EM)外国直接投资(FDI)的研究,以调查东道国自然资源and赋和机构因素对新兴市场跨国企业的区位选择的互动影响(多国企业)。基于中国对62个国家的外国直接投资,我们的结果表明,东道国对自然资源end赋的吸引力取决于东道国和母国环境的制度约束。政治风险积极地缓和了自然资源end赋与外国直接投资之间的直接联系,而经济自由度和体制距离却消弱了这种联系。也就是说,当政治风险高,经济自由度和机构距离低时,自然资源end赋对中国跨国公司的外国直接投资更具吸引力。

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