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Firm heterogeneity and location choice of Chinese firms in Latin America and the Caribbean: Corporate ownership, strategic motives and host country institutions

机译:中国企业在拉丁美洲和加勒比地区的企业异质性和地区选择:企业所有权,战略动机和东道国机构

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摘要

China's ODI in Latin America and the Caribbean is entering into the second phase with diversification of economic actors and industries of investment This paper extracts the approved projects by the Chinese Ministry of Commerce from its online database between 2003-2012, and fits a random effect negative binomial regression model. Our statistical estimates on the one hand confirm some of the previous findings on the disparity between Chinese public and private investors in their ODI motivations and perception of risks, on the other hand find that host country institutions are not purely ownership specific, but also contingent on industries and activities in which firms tend to invest The direction of institutional effect is not consistent across sectors and firm types. The revealed complexity of China's ODI in Latin America and the Caribbean suggests a multi-level framework in further research, which treats Chinese transnational firms as endogenously heterogeneous beyond the dichotomous categorisation according to corporate ownership. (C) 2015 Elsevier Inc. All rights reserved.
机译:中国在拉丁美洲和加勒比海地区的ODI正进入第二阶段,经济主体和投资行业实现多元化。本文从中国商务部的在线数据库中提取了2003-2012年间批准的项目,并将其随机效应拟合为负二项式回归模型。我们的统计估计值一方面证实了先前关于中国公共和私人投资者在ODI动机和风险感知方面的差异的一些发现,另一方面发现东道国机构并非纯粹针对所有权,而是取决于企业倾向于投资的行业和活动机构效果的方向在各个部门和企业类型中并不一致。中国在拉丁美洲和加勒比地区的ODI所揭示的复杂性,表明了在进一步研究中的多层次框架,该框架将中国跨国公司视为内生异质的企业,而不是根据公司所有权进行二分类的分类。 (C)2015 Elsevier Inc.保留所有权利。

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