外商直接投资的股权结构决策

本文对影响跨国企业海外投资的股权结构的经济、政治因素进行了深入分析。首先讨论了跨国企业自身的一些经济技术特征以及组织结构形式对其海外投资股权决策的影响,其次分析了影响跨国企业股权投资的有关东道国的经济与政治制度特征。本文认为,制定吸引跨国企业来华投资的经济决策,仅仅提供税收等优惠措施的不够的,东道国难以影响跨国企业自身的经济特征及跨国企业所在国的法律和税收等规定,不过,我们可以通过改善政府效率及降低交易费用等方面的改革,从根本上提高对外资的吸引力。 

Decision-making of Oversea Investment's Equity Structure

The article analyzes the economic and political factors that influence the equity structure of multinationals in their overseas investment activities. Firstly, it discusses some economic and technological characteristics of the multinationals, as well as the impact of their organizational structures on the decision making of their overseas investment. Secondly, it analyzes the economic and political characteristics of the host country that affect the equity investment of the multinationals. The article points out, in stipulating economic policies for attracting multinationals to invest in China, it is not enough to provide them and with such favorable measures as favorable taxation treatment; and it is difficult for the host country to influence the economic characteristics of the multinationals and the legal and taxation regulations of their residence country. However, by carrying out reforms, including improving government efficiency and reducing transaction fee, etc., we may increase the attraction for overseas capital fundamentally.