Determinants of Chinese energy OFDI location decisions and entry failure risk: The roles of public diplomacy endeavors and firm investment strategies
文献类型：期刊论文
| 作者 | Huang, Youxing4; Yang, Yu1,2,3 |
| 刊名 | ENERGY
 |
| 出版日期 | 2023-03-15 |
| 卷号 | 267页码:14 |
| 关键词 | Outward foreign direct investment Energy Determinant Failure risk China |
| ISSN号 | 0360-5442 |
| DOI | 10.1016/j.energy.2022.126570 |
| 通讯作者 | Yang, Yu(yangyu@igsnrr.ac.cn) |
| 英文摘要 | Identifying the key factors that affect the location decision and entry failure risk of Chinese enterprises' outward foreign direct investment (OFDI) is an issue of great significance both in theory and practice. Using an original and unique project-level panel dataset from 2005 to 2018, this study explores the determinants of OFDI location decisions and entry failure risk in the overseas energy sector undertaken by Chinese enterprises. The results demonstrate strong evidence that the Chinese public diplomacy endeavors stimulate energy OFDI decisions conducted by Chinese firms in terms of both investment tendency and magnitude. By contrast, most macro-economic features of host countries are not verified as determinants of energy OFDI. Specifically, high-level formal strategic partnerships and the current informal bilateral friendly relations are crucial for decisions. More importantly, the OFDI-strategy test shows that the horizontal and conglomerate OFDI as well as the financial alliance enable a reduction in OFDI entry failure risk, whereas more frustrations are incurred when firms engage in vertical OFDI and cross-border mergers and acquisitions (CM&A). Additionally, the entry failure risk varies substantially with the sectors of both Chinese parent firms and overseas affiliates. These results are robust after addressing the potential endogeneity and sample selection bias, which provide the necessary evi-dence for the optimization of China's public diplomacy policies and firm strategies related with energy OFDI. |
| WOS关键词 | FOREIGN DIRECT-INVESTMENT ; OUTWARD DIRECT-INVESTMENT ; CROSS-BORDER MERGERS ; VERTICAL FDI ; SECTOR ; SECURITY ; CHOICE ; GEOGRAPHY ; DRIVERS ; SCALE |
| 资助项目 | National Natural Science Foundation of China[42022007] ; National Natural Science Foundation of China[41871118] ; National Natural Science Foundation of China[42130712] ; Youth Innovation Promotion Association, Chinese Academy of Sciences[20CJL012] ; National Social Science Fund of China ; [2018069] |
| WOS研究方向 | Thermodynamics ; Energy & Fuels |
| 语种 | 英语 |
| WOS记录号 | WOS:000918871000001 |
| 出版者 | PERGAMON-ELSEVIER SCIENCE LTD |
| 资助机构 | National Natural Science Foundation of China ; Youth Innovation Promotion Association, Chinese Academy of Sciences ; National Social Science Fund of China |
| 源URL | [http://ir.igsnrr.ac.cn/handle/311030/189337]  |
| 专题 | 中国科学院地理科学与资源研究所 |
| 通讯作者 | Yang, Yu |
| 作者单位 | 1.Inst Strategy Res Guangdong Hong Kong Macao Greate, Guangzhou 510070, Peoples R China 2.Univ Chinese Acad Sci, Coll Resources & Environm, Beijing 100049, Peoples R China 3.Chinese Acad Sci, Inst Geog Sci & Nat Resources Res, Beijing 100101, Peoples R China 4.Ocean Univ China, Sch Econ, Qingdao 266100, Shandong, Peoples R China |
| 推荐引用方式 GB/T 7714 | Huang, Youxing,Yang, Yu. Determinants of Chinese energy OFDI location decisions and entry failure risk: The roles of public diplomacy endeavors and firm investment strategies[J]. ENERGY,2023,267:14. |
| APA | Huang, Youxing,&Yang, Yu.(2023).Determinants of Chinese energy OFDI location decisions and entry failure risk: The roles of public diplomacy endeavors and firm investment strategies.ENERGY,267,14. |
| MLA | Huang, Youxing,et al."Determinants of Chinese energy OFDI location decisions and entry failure risk: The roles of public diplomacy endeavors and firm investment strategies".ENERGY 267(2023):14. |
入库方式： OAI收割
来源：地理科学与资源研究所
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