对外直接投资对中国服务业企业生产率的影响
The impact of outward foreign direct investment on the productivity of Chinese service industry enterprises
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| DOI |
10.12208/j.aif.20240002 |
| 刊名 |
Advances in International Finance
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| 年，卷(期) |
2024, 6(1) |
| 作者 |
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| 作者单位 |
济南大学 山东济南 ;
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| 摘要 |
随着中国企业走出去的步伐越来越快，服务业作为现代化发展的支柱，研究对外直接投资对现代化服务业企业的影响尤为重要。本文基于2017-2022年 822家中国服务业上市公司的数据，采用了 PSM-DID的方法对两者之间的关系做了研究。研究表明，对外直接投资显著提高了服务业企业的生产率，并且这种推动效果会因服务业企业所采取的投资方式的不同，而呈现出差异化的特征。具体而言，相较于传统的绿地投资模式，通过跨国并购途径进行的OFDI对服务业企业生产率的增进展现出更为显著的成效。因此，服务业应基于自身实际状况，努力提升自身的对外直接投资水平特别是跨国并购投资水平，以期实现生产率的最大化优化。
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| Abstract |
With the increasing pace of Chinese enterprises going global, studying the impact of Outward Foreign Direct Investment (OFDI) on modern service industry enterprises, a pillar of modernization, is particularly important. This paper uses data from 821 Chinese listed service industry companies from 2017 to 2021 and employs the PSM-DID (Propensity Score Matching-Difference in Differences) method for empirical research. The results indicate that, overall, OFDI can promote the productivity of service industry enterprises, and this promotion effect varies depending on the investment method used by the service industry enterprises. In terms of OFDI investment methods, compared to greenfield investment, cross-border mergers and acquisitions are more effective in enhancing the productivity of service industry enterprises, with this effect being more significant in productive service industry enterprises.
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| 关键词 |
对外直接投资；服务业；企业生产率
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| KeyWord |
Outward Foreign Direct Investment; Service Industry; Enterprise Productivity
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| 基金项目 |
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| 页码 |
9-13 |
叶豪*,封肖云.
对外直接投资对中国服务业企业生产率的影响 [J].
国际金融进展.
2024; 6; (1).
9 - 13.