| The report at 18th Party Congress of China has raised to foster a number of world-class multinational companies(MNCs), China Dream also needs to cultivate a group of world-class MNCs, and the growth of MNCs is affected by home country macroescopic factors and corporate microscopic factors. At the macro level, home country macroscopic factors affecting the growth of Fortune 500 companies were analyzed empirically according to the panel data of 7 major countries from 1996 to 2011 in this article. The empirical results show that World-class MNCs’growth level and foreign direct investment, per capita GDP, international market share, R&D intensity variables were positively correlated; economic freedom and foreign exchange reserves variables have both positive and negative relationship with the growth level. That is to say, world-class MNCs’ growth needs a lot of foreign direct investment’s practice, economic basis of home country income level, industrial basis of strong export competitiveness and innovation basis of high R&D intensity; Meanwhile, the use of foreign exchange resources and government intervention also have the positive effect. At the micro level, the empirical test was processed according to the panel data of 25 Fortune 500 companies. Conclusions show that the internationalization of enterprises, economic resources, employee size and brand influence have a positive long-term effect on the growth of world-class MNCs, and the economic efficiency of enterprises has a short-term effect on enhancing the growth level; In the grand scheme, Corporate social responsibility investment has a long-term significance to promote the growth of enterprises, however, it can’t be given further empirical study due to the data limitations. These conclusions have some inspiration and reference for our country to cultivate the world-class MNCs. Therefore, the article also proposes some referential suggestions for the problem how to develop word-class MNCs for China in the finally. |
PDF Full Text Request