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Natural resource-seeking intent and regulatory forces: Location choice of Chinese outward foreign direct investment in Asia

机译:寻求自然资源的意图和监管力量:中国在亚洲的对外直接投资的地点选择

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Purpose - This study aims to investigate how natural resource-seeking as a type of strategic intent influences foreign direct investment (FDI) location choice. Grounded in the strategic intent approach and institution theory, the authors developed an interactive conceptual framework by integrating natural resource-seeking intent (NRI) with regulatory institutional factors. Design/methodology/approach - The authors developed an interactive conceptual framework by integrating NRI at a firm level with regulatory factors of governmental support, political risk and economic freedom at country level. Using empirical data from a sample of 137 Chinese outward foreign direct investment (OFDI) projects in 19 Asian countries, statistical analysis was conducted using a conditional logistic regression technique. Findings - Empirical findings from our study suggest that NRI has a strong influence on OFDI location choice of the Chinese firms. More importantly, the results demonstrate that influence of NRI on location choice is contingent on the regulatory forces both in the home and host countries settings. NRI is more likely to influence FDI location choice when government support from the home country is stronger and/or when political risk in a host country FDI is higher. Originality/value - This is an empirical-based original study, and it contributes to the literature in several ways. First, the study enriches the strategic intent approach by demonstrating the contingency conditions from regulatory factors, especially home government support on a firm's pursuit of NRI. Second, the study provides an explanation for the behaviour pattern of Chinese OFDI regarding their response to political risk in a host country. Third, the study demonstrates the influence of "institutional embededness" on the firm's strategic intent. Managerial and policy implications are also discussed.
机译:目的-这项研究旨在调查寻求自然资源作为一种战略意图如何影响外国直接投资(FDI)的地点选择。作者基于战略意图方法和制度理论,通过将自然资源寻求意图(NRI)与监管制度因素相结合,开发了一个交互式概念框架。设计/方法/方法-作者通过将公司的NRI与国家/地区的政府支持,政治风险和经济自由的监管因素结合起来,开发了一个交互式概念框架。使用来自19个亚洲国家的137个中国对外直接投资(OFDI)项目的样本的经验数据,使用条件逻辑回归技术进行了统计分析。调查结果-我们研究的经验结果表明,NRI对中国企业的OFDI选址有很大影响。更重要的是,结果表明NRI对位置选择的影响取决于母国和东道国环境中的监管力量。当来自母国的政府支持更强和/或当东道国FDI的政治风险更高时,NRI更有可能影响FDI的地点选择。原创性/价值-这是一项基于经验的原创研究,它以多种方式为文献做出了贡献。首先,该研究通过从监管因素,尤其是政府对企业追求NRI的支持中展示了应急条件,丰富了战略意图方法。其次,该研究为中国对外直接投资对东道国对政治风险的反应的行为模式提供了解释。第三,研究证明了“制度嵌入”对企业战略意图的影响。还讨论了管理和政策含义。

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