A Study On The Factors Influencing The Business Performance Of Enterprises Invested By The Countries Along The Belt And Road In Shaanxi Province

The Belt and Road(B&R)creates a favorable situation for China's further introduction of foreign investment and improvement of the level of foreign investment under the new economic norm in addition to promoting China's foreign investment.Based on the micro-level of companies,this article examines the state of investment in Shaanxi Province invested by the countries along B&R and the operating performances of the Belt and Road companies,separately from the perspectives of the investment source countries,investment region distribution,investment industry distribution investment methods,etc.And compare with the overall operating conditions of foreign-funded enterprises in Shaanxi Province.Finally,we use the relevant panel data from 2011 to 2015 to build models to empirically examine the factors affecting the operating performance of the foreign companies in Shaanxi invested by the countries along B&R.The results of the analysis show that the source countries of foreign investment along B&R are mainly South Korea and Singapore,and most of them are manufacturing companies.They mainly exist in the form of sole proprietorship with high control power and concentrated in Xi'an,which is more economically developed.It shows that countries along B&R are important directions for Shaanxi Province to expand its foreign investment sources.In recent years,as the number of the Belt and Road companies continue to increase,many companies are in the initial phase,making the overall loss level of the Belt and Road companies slightly higher than the overall level of foreign-funded enterprises in Shaanxi Province,and they also have poor operating performance.In comparison,the distribution of investment source countries and industries of the Belt and Road companies are not as scattered as foreign-funded enterprises.The Belt and Road companies have even more serious tendency of sole proprietorship,and profit comes mainly from manufacturing companies invested by South Korea and Singapore.In addition,the demonstration effect of Samsung's introduction of foreign investment is unquestionable.As the same time,empirical results show that the foreign investment ratios,debt constraints,enterprise scale,business year,market orientation,employees' intelligence levels,and industries all have an impact on the performance of the Belt and Road companies.Finally,based on the analysis results,several suggestions are made to improve the quantity and quality of foreign investment in Shaanxi Province,optimize the structure of foreign investment,and increase the efficiency of foreign capital utilization.