Chinese M&A in Germany: the Light-Touch Integration and a Theoretical Explanation Based on Absorptive Capacity
Chinese M&A in Germany: the Light-Touch Integration and a Theoretical Explanation Based on Absorptive Capacity
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中国男
DOI：
10.1057/9780230361577_11
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发表时间：
2010
期刊：
影响因子：
--
通讯作者：
M. Woywode
中科院分区：
文献类型：
--
作者：
Yipeng Liu;M. Woywode
中国的对外直接投资（OFDI）随着其影响的扩大而成为一个热门的研究领域。Buckley and colleagues（2007）研究了中国对外直接投资的决定因素，并认为资本市场的不完善、特殊的所有权优势和制度因素是可以嵌入对外直接投资一般理论的潜在论点。从政治经济学的角度来看，制度逃避和政府推动在逻辑上是相辅相成的，以抵消新兴市场企业在全球竞争中的劣势（Luo et al.，2010年）。最近的一项实证研究表明，中国企业对外直接投资的进入模式选择在很大程度上取决于企业的战略契合度及其战略意图（崔江，2009）。跨国并购已成为中国企业进入市场的主要方式（Alon & McIntyre，2008）。
China’s outward foreign direct investment (OFDI) has become a popular area of research as its impact has widened. Buckley and colleagues (2007) investigate the determinants of Chinese OFDI and suggest that capital market imperfections, special ownership advantages, and institutional factors are potential arguments to be nested in the general theory of FDI. From the political economy point of view, institutional escapism and governmental promotion are logically complementary to each other to offset the disadvantages of emerging market enterprises in global competition (Luo et al., 2010). A recent empirical study shows that the entry mode choice of Chinese firms for OFDI depends largely on a firm’s strategic fit and its strategic intent (Cui & Jiang, 2009). Cross-border merger and acquisition (M&A) has become the primary mode of entry for Chinese firms (Alon & McIntyre, 2008).