数字化转型能否优化企业OFDI区位分布

当代财经 ›› 2024, Vol. 0 ›› Issue (2): 111-124.

数字化转型能否优化企业OFDI区位分布

李明洋, 张乃丽

山东大学经济学院,山东济南 250100

收稿日期:2023-06-12 修回日期:2023-09-05 发布日期:2024-01-23
通讯作者: 张乃丽,山东大学教授,博士生导师,博士,主要从事国际贸易与国际投资研究,联系方式zhangnaili@sina.com。
作者简介:李明洋,山东大学博士研究生,主要从事国际贸易与国际投资研究。
基金资助:
国家社会科学基金重大项目“‘一带一路’国家金融生态多样化对中国海外投资效率的影响研究”（17ZDA040）; 山东大学人文社科国际合作项目“新亚欧大陆桥的经济发展研究”【（110200）13551096】; 河北省教育厅重点课题“高质量视角下河北省服务贸易的就业效应研究——基于劳动力技术差异的分析”（SD2021065）

Can Digital Transformation Optimize the Location Distribution of Enterprises’ OFDI?

LI Ming-yang, ZHANG Nai-li

Shandong University, Jinan 250100, China

Received:2023-06-12 Revised:2023-09-05 Published:2024-01-23

摘要/Abstract

摘要： 当前,中国对外直接投资规模位居世界前列,但是仍存在着企业对外直接投资（OFDI）区位分布不合理等问题。为了进一步提高海外投资质量,探讨数字化转型是否能够优化企业OFDI区位分布具有理论价值和现实意义。基于企业异质性假定构建引力模型,发现地理距离与OFDI扩展边际之间存在U型关系,而且数字化转型能够改变地理距离对企业OFDI扩展边际的影响,优化企业OFDI区位分布。机制检验发现,数字化转型可以降低OFDI交易成本,由此突破地理距离对海外投资的限制,优化企业OFDI区位分布。异质性分析发现,数字化转型优化企业OFDI区位分布存在企业、区域和行业异质性。从空间维度来看,无论投资目的地是高收入经济体还是中低收入经济体,是“一带一路”国家（地区）还是非“一带一路”国家（地区）,数字化转型均能发挥优化企业OFDI区位分布的作用;从时间维度来看,数字化转型可以持续优化企业OFDI区位分布。基于上述结论,要积极推动企业数字化转型,发挥数字化在优化企业海外投资分布方面的作用,维护地缘经济稳定,实现更深层次的全球合作。

关键词: 数字化转型, 对外直接投资, 区位分布, 地理距离, 引力模型

Abstract: Currently, the scale of China’s outward foreign direct investment ranks among the top in the world, but there still exist such problemsas irrational distribution of enterprise OFDI location and so on. In order to improve the quality of overseas investment, it is of theoretical value and practical significance to explore whether digital transformation can optimize the location distribution of enterprise OFDI. Based on the assumption of enterprise heterogeneity, a gravity model is constructed, and it is found that there exists a U-shaped relationship between geographic distance and OFDI expansion margin.In addition, digital transformation can change the influence of geographic distance on enterprise OFDI expansion margin and optimize the location distribution of enterprise OFDI. The mechanism test reveals that digital transformation can reduce OFDI transaction costs, thus breaking through the limitations of geographical distance on overseas investment and optimizing the location distribution of enterprise OFDI. The heterogeneity analysis reveals that digital transformation can optimize enterprise OFDI location distribution with enterprise, regional and industrial heterogeneity. From the spatial dimension, digital transformation can play a role in optimizing the location distribution of enterprise OFDI regardless of whether the investment host country is a high-income economy or a middle-income or low-income economy, and whether it is a Belt and Road country (region) or a non-Belt and Road country (region). From the time dimension, digital transformation can continue to optimize enterprise OFDI location distribution. Based on the above conclusions, it is necessary to actively promote the digital transformation of enterprises, give full play to digitization in optimizing the distribution of enterprises’ overseas investment, maintain the stability of geo-economy, and realize deeper global cooperation.

Key words: digital transformation, outward foreign direct investment, location distribution, geographical distance, gravity model

中图分类号:

李明洋, 张乃丽. 数字化转型能否优化企业OFDI区位分布[J]. 当代财经, 2024, 0(2): 111-124.

LI Ming-yang, ZHANG Nai-li. Can Digital Transformation Optimize the Location Distribution of Enterprises’ OFDI?[J]. Contemporary Finance & Economics, 2024, 0(2): 111-124.

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