Research On Choice And Evolution Of Coal Enterprises' Interregional Entry Modes

East and middle parts of China are lack of coal resources. With decaying of resource, major state-own coal enterprises made interregional investments in west provinces full of rich coal resources. Coal enterprises will choose entry modes as strategic decision. Different entry modes will influence enterprise profit rate, reemployment of employee, percentage of recovery and market structure of coal industry, while choices of entry modes present evolutionary characters with improvement of investment environment and accumulation of skill which make research on selection of entry modes practically significant; literature of entry modes focuses on transnational investments, scarcely on inter-regional investments, thus this dissertation endeavors to fetch up the demerits and present certain theoretical significance.First literature of selection of trans-regional entry modes, entry modes evolution, performance evaluation are analyzed and demerits of research are indicated. Methods of literature induce are adopted in this part.Combined with speciality of coal enterprise interregional investment, this dissertation reconstructs theoretical frame of entry modes selection of coal enterprises, regards high rank administrators of Chinese 8 coal enterprises of east and middle parts as subject investigated and adopts questionnaire data, methods of logistic regression and cooperative game to study influence of trans-regional entry modes and entry modes'evolution of coal enterprises; finally a interregional investment case of Xuzhou Mining Group.Dissertation draws following conclusions:(1)Factors that influence entry modes'selection of coal enterprise are mainly local natural resource endowment, local government support, capital density, thus market-orientation of mining right and supporting facilities construction of coal resources exploitation are crucial for improving investment environment. Local market size, local market competition and enterprise comprehensive strength are insignificant; the local market size is negatively correlated with controlling degree of entry modes, market competition is positively correlated.(2)According to majority literature, higher capital intensity indicates more capital devotion and increases investment risk, and trans-regional enterprise is more likely to enter with low controlling modes for eluding risks. The conclusion of this paper indicates that under the circumstance of coal industry growth, coal enterprises will choose high controlling modes for seeking long term stable profit and for averting enterprise instability resulted from non-proprietorship.(3)Entry modes selection of some coal enterprises present evolution characters. Analysis of cooperative game model shows that coordinate costs, dynamic comparison of resources superiority between coal enterprises and west cooperators, devoted human and equipment asset specificity of coal enterprises influence mode evolution; when ease and middle coal enterprises provide stronger asset exclusiveness than that of west region, coordinate costs dominant stock equity alteration of joint venture.(4)Most coal enterprises adopt proprietary and solo proprietorship.Research on interregional investment practice of Xuzhou Mining Group indicates that performance of proprietary and solo proprietorship are better than that of contract,but proprietary is easier to succeed comprare with solo proprietorship. Reasons are as follows: proprietary eludes effectively management conflict, favors building and consummating modern property system, lowers entry barriers and realizes coupling joint-ventures'comlementary resources.The conclusion provides entry modes reference for other coal enterprises.