FDI进入方式与企业生产率——非参数分析方法

采用1998-2007年中国制造业外商投资企业的非平衡面板数据,在估计企业全要素生产率的基础上,采用一阶随机占优方法比较分析了外商独资企业与中外合资企业全要素生产率的差异。研究发现,中国外商独资企业的生产率在总体上并不比中外合资企业高,但随着跨国公司母国与中国制度特别是经济制度的差距逐渐缩小,外商独资企业的生产率不断提高;随着FDI进入时间的推移,外商独资企业逐渐克服进入初期的不利因素,其生产率明显高于中外合资企业;大中型中外合资企业可能由于能较好地适应中国的文化、管理特点以及经营协同效应的存在,其生产率明显高于大中型外商独资企业。

Entry Mode for FDI and Firm Productivity： A Non-parametric Approach

This paper examines total factor productivity differences between wholly owned subsidiaries and joint ventures. These differences are documented based on the concept of first order stochastic dominance and on the basis of a sample of Chinese manufacturing foreign firms over the period 1998-2007. Our results show that not all wholly owned subsidiaries have greater productivity than joint ventures, but institutions distance, especially economic systems distance, between home country of multinational corporation and China reducing, productivity for wholly owned subsidiaries improve continually. Operating time in China has a significant positive effect on productivity for wholly owned subsidiaries. Large and medium-sized joint ventures perform better than wholly owned subsidiaries, perhaps because they can adapt themselves well to our country＇s culture, management characteristics and the existence of synergistic effect in operating.