中文摘要：

外来者劣势意即跨国公司在东道国经营时因承担本土企业不用承担的成本而在竞争中处于劣势，鉴于信息对跨国公司经营的重要性，需深入研究信息缺失对外来者劣势的影响机理。选取2005-2014年在海外上市的83家中国公司为样本，以投资者认知成本为中介变量，基于中介效应模型，实证检验信息缺失对外来者劣势的影响。结果表明：信息缺失对外来者劣势和投资者认知成本都有显著的正向影响，投资者认知成本对外来者劣势具有显著的正向影响，投资者认知成本在信息缺失和外来者劣势之间产生部分中介作用。根据实证结果，相应给出从弥补信息缺失和重视投资者认知成本管理两方面降低外来者劣势的对策。

英文摘要：

Based on the analysis of the latest progress in the research of the liability of foreignness （LOF） in recent years, this paper uses the sample of 83 Chinese foreign-listed firms from 2005 to 2014, to explore the mechanism of the effect of lacking information on LOF through SPSS. The results suggest that the lack of information has a significant and positive effect on LOF and investor recognition cost. Investor recogni- tion cost has a significant and positive effect on LOF. Investor recognition cost plays the partial mediating role between lacking information and LOF. According to the results, this paper provides strategies of making up for the lack of information and paying attention to the management of investor recognition cost to overcome LOF.