在中国实施“走出去”的战略布局过程中,制度与文化的交融也是非常重要的,中国与东道国间的制度鸿沟可能是阻碍中国企业对外投资的一个重要因素.现有研究虽已注意到正式制度在其中的作用,但缺乏对非正式制度与文化差异的关注.文章基于制度与文化视角,阐述了海外华人网络影响中国对外直接投资的理论机制,并基于全球195个国家或地区的华人分布数据和中国对全球132个经济体对外直接投资的流量与存量数据,检验了海外华人网络对中国对外直接投资的影响效应和影响途径.研究表明:(1)海外华人网络促进了中国企业“走出去”以实现对外直接投资,中国企业在华人分布密集的地区更容易实现对外直接投资;(2)在海外华人越来越集中于高技能与OECD国家的背景下,高技能华人的网络与OECD国家的华人网络对中国的对外直接投资的影响更为明显;(3)从制度距离的角度来看,海外华人网络在与中国制度距离更远的国家与经济体中的影响更为明显,即海外华人网络能够弥合中国与东道国之间的制度距离而促使中国企业“走出去”.文章对当前我国“走出去”战略推进过程中如何利用好文化与非正式制度因素具有重要的启示。
In the process of implementing the going-out strategy arrangement in China, the integration of institution and culture is very important and the institutional gap be tween China and the host countries may be an important factor to hinder Chinese OFDI. Existing literature has confirmed the role of formal institutions, but ignores the focus on informal institutions and cultural differences. This paper states the theoretical mechanism of the effect of ethnic Chinese network on Chinese OFDI from the perspectives of institu- tion and culture. It tests the increase effect of ethnic Chinese network on Chinese OFDI based on the ethnic Chinese distribution in global 195 countries or regions and the flow stock data of Chinese OFDI in global 132 economies. It reaches the conclusions as follows. firstly, ethnic Chinese network promotes the going-out of enterprises and OFDI and Chi- nese enterprise are inclined to realize OFDI in regions with dense ethnic Chinese distribu- tion~ secondly, in the background of more ethnic Chinese with high skill and in OECD countries, high-skilled ethnic Chinese network and ethnic Chinese network of OECD coun- tries have more obvious effects on Chinese OFDI~ thirdly, from a perspective of institu- tional distance, ethnic Chinese network has more significant effects in countries or econo- mies that have longer institutional distance with China, namely ethnic Chinese network can close the institutional distance between China and the host countries and thereby advances the going-out of Chinese enterprises. It has important enlightenment for how to make full use of cultural and informal institutional factors in the process of advancing the going-out strategy in current China.