The determinants of Chinese outward foreign direct investment

Buckley, P.J., Clegg, J., Cross, A.R., Liu, X., Voss, H. and Zheng, P. 2007. The determinants of Chinese outward foreign direct investment. Journal of International Business Studies. 38 (4), pp. 499-518.

TitleThe determinants of Chinese outward foreign direct investment
AuthorsBuckley, P.J., Clegg, J., Cross, A.R., Liu, X., Voss, H. and Zheng, P.
Abstract

This study investigates the determinants of Chinese outward direct investment (ODI) and the extent to which three special explanations (capital market imperfections, special ownership advantages and institutional factors) need to be nested within the general theory of the multinational firm. We test our hypotheses using official Chinese ODI data collected between 1984 and 2001. We find Chinese ODI to be associated with high levels of political risk in, and cultural proximity to, host countries throughout, and with host market size and geographic proximity (1984 to 1991) and host natural resources endowments (1992 to 2001). We find strong support for the argument that aspects of the special theory help to explain the behaviour of Chinese MNEs.

KeywordsChina, Outward FDI, Theory of the multinational enterprise, Chinese multinational firms
JournalJournal of International Business Studies
Journal citation38 (4), pp. 499-518
ISSN0047-2506
YearJul 2007
PublisherPalgrave Macmillan
FileBuckley_et_al_2007_-_2_final_author_version.pdf
Digital Object Identifier (DOI)doi:10.1057/palgrave.jibs.8400277
Publication dates
PublishedJul 2007

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