Research On The Influence And Mechanism Of Home Country Institutional Environment On Private-owned Enterprise OFDI Entry Mode

As the rapid development of outward foreign dierect investment(OFDI)form emerging economies,Multinational corporations from these countries highlighted increasingly important role in the global economic integration,this phenomenon has attracted the widely attention of scholars.Especially in China,the contribution of private enterprises to GDP gradually increased,with the "going out" strategy of deepening,the net stock of outward foreign direct investment in private enterprises jumped from 19% in 2006 to 49.7% in 2015.However,the entry mode of OFDI is one of the major overseas strategies of private enterprises,deciding whether private enterprises can successfully enter the host country market and the performance and development prospects of overseas subsidiaries.The multinational enterprise entry mode has always been a hot topic in the field of international business and strategic manage-mant,many domestic and foreign scholars have studied the factors influencing the overseas entry mode of multinational enterprises from the national level,the ind-ustry level and the enterprise level.However,focusing on the situation in China,the research on the entry mode of private enterprises is less.Based on the institutional situation of China in the transition period,focusing on private enterprises,integrating the "institutional theory","social capital theory" and "overseas entry mode theory" perspective,taking into account the influence mechanism of the three factors of the motherland’s institutional environment,social capital,regulatory distance and cultural distance on the overseas entry mode of private enterprises.After summarizing and reviewing out the existing literature,the research concept model is constructed,and the research method of the relationship between the institutional environment of the mother country and the overseas entry mode is established,and thus establish the relationship between the two.First,on the basis of determining the influence of the institutional environment on the private enterprises’ entry mode,the regulatory distance and cultural distance are added to further study their regulation of the relationship between the institutional environment and the overseas entry mode.Second,considering the Chinese institutional situation,viewing the social capital as an important factor affecting the overseas entry model to study its intermediary role between institutional environment in China and private enterprises to enter the mode.Finally,six research hypotheses are proposed to explore the influence of the home country environme nt on the overseas entry mode of private enterprises.The object of this study is listed on the A-share of China’s OFDI in private enterprises,collected and compiled 210 private enterprises’ 234 frequency OFDI activities in 2015.Using SPSS19.0 Logistic regression analysis and other statistical analysis methods to test the theoretical model and research hypothesis,through the research work above,this study reaches the following conclusions.(1)The institutional environment of the enterprise belongs to the region is positive ly related to its overseas sole proprietorship entry mode.(2)Regulatory distance and cultural distance negative adjustment of the relationship between institutional environment of home country and the overseas sole proprietorship entry mode of private enterprises.(3)Social capital has some mediating role between the home country institutional environment and the private enterprise overseas sole proprietorship entry mode.