日本对亚洲对外直接投资动机的东道国特征与行业异质性研究

doi:10.14156/j.cnki.rbwtyj.2021.05.006

日本问题研究 ›› 2021, Vol. 35 ›› Issue (5): 49-62.DOI: 10.14156/j.cnki.rbwtyj.2021.05.006

日本对亚洲对外直接投资动机的东道国特征与行业异质性研究

郑磊,祝宁,兰天

东北财经大学国际经济贸易学院, 辽宁大连〓116025

收稿日期:2021-04-19 出版日期:2021-10-25 发布日期:2021-12-10
通讯作者: 教育部人文社会科学研究青年基金“外部创新和区位选择视角下中国企业国际化—绩效关系的研究”(18YJC790234);辽宁省社会科学规划基金项目“复杂网络环境下辽宁省制造业服务化转型升级的路径与模式研究”(L18BJY025);辽宁省教育厅项目“国际技术溢出对中国‘一带一路’沿线省域高技术产业技术进步影响的演化路径分析”(LN2019Q67)

A Study on Host Country Characteristics and Industry Heterogeneity of Japans Motivation for OFDI in Asia

ZHENG Lei,ZHU Ning,LAN Tian

School of International Economics and Trade, Dongbei University of Finance and Economics, Dalian, Liaoning, 116025, China

Received:2021-04-19 Online:2021-10-25 Published:2021-12-10

摘要/Abstract

摘要： 在日本的对外直接投资战略部署中,亚洲国家(地区)一直占据着重要的地位。亚洲各国在经济环境、政治制度和要素禀赋等方面的差异影响着日本跨国公司制定和调整企业内部管理方案和对外投资战略决策。采用2007—2018年间对亚洲11个国家(地区)开展对外直接投资的1 242家日本企业的微观数据,利用logit模型和计数模型,从投资动机视角研究东道国特征和行业异质性对日本在亚洲对外直接投资(OFDI)的影响。研究发现,第一,日本更偏好选择制度环境较好的亚洲国家(地区)投资,其中,市场寻求型、效率寻求型和资源寻求型投资表现明显,而战略资产寻求型投资较为缺乏。第二,从国别看,日本对中国和印度的投资更偏向寻求市场,对东盟五国的投资更侧重寻求效率,对“亚洲四小龙”的投资更关注制度环境。第三,从行业看,日本制造业OFDI更追求效率,采矿业OFDI突出寻求资源特征,服务业OFDI则对东道国市场规模更敏感。

关键词: 日本, 跨国公司, OFDI动机, logit模型, 负二项模型

Abstract: In the strategic deployment of Japans OFDI, Asian countries(regions)have been playing an important role. The differences in economic environment, political system, and factor endowment among Asian countries affect the formulation and adjustment of internal management plans and foreign investment strategies of Japanese MNCs. In this paper, the micro-data of 1,242 Japanese enterprises carrying out OFDI in 11 countries(regions)in Asia from 2007 to 2018 are adopted to empirically study the OFDI of Japanese MNCs in Asia from the perspective of investment motivation by taking the method of logit model and count model. The results show that firstly, Japan focuses more on Asian countries(regions)with better investment system environment, and obviously prefers market seeking, efficiency seeking, and resource seeking investments, while asset seeking investments are lacking. Secondly, from the perspective of countries, Japan is more market-driven in its investment in China and India, more efficiency-oriented in its investment in the five ASEAN countries, and more concerned about the institutional environment in its investment in the NIEs. Thirdly, from the perspective of industry, Japans OFDI of manufacturing industry is more efficiency-seeking, while that of mining industry is resource-seeking and that of service industry is more sensitive to the market size of a host country.

Key words: Japan, MNCs, OFDI motivation, logit model, negative binomial model

中图分类号:

F112.2

郑磊,祝宁,兰天. 日本对亚洲对外直接投资动机的东道国特征与行业异质性研究[J]. 日本问题研究, 2021, 35(5): 49-62.

ZHENG Lei,ZHU Ning,LAN Tian. A Study on Host Country Characteristics and Industry Heterogeneity of Japans Motivation for OFDI in Asia[J]. Japanese Research, 2021, 35(5): 49-62.

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日本对亚洲对外直接投资动机的东道国特征与行业异质性研究

A Study on Host Country Characteristics and Industry Heterogeneity of Japans Motivation for OFDI in Asia

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