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The Determinants of Chinese MNEs’ Performance Effect: China OFDI From the Portfolio Perspective

In: Liss 2014

Author

Listed:
  • Hsin Mei Lin

    (National Chi Nan University)

  • I-Fan Yen

    (National Chi Nan University)

Abstract

This paper develops a portfolio perspective on foreign direct investments of Chinese firms, which represents the pattern of multiple simultaneous portfolio investments. This study investigates the determinants of firm performance of Chinese outward foreign direct investment (OFDI) and the extent to which three special explanations (international diversification, home government involvement and host country risk) need to be rooted within the general theory of multinational firms. By testing a comprehensive sample of 1598 panel-data observations of 45 Chinese publicly-listed firms from 2000 to 2010, we find strong support for the pattern of multiple simultaneous portfolio investment, performance effect seems to be associated with high levels of home government involvement in, with diversified projects and countries to, and with low levels of host country risk throughout the internationalization strategy. We conclude that Chinese OFDI is indeed distinctive in certain respects that determinants of firm performance effect need to be rooted within the general theory where implications for IB theory.

Suggested Citation

  • Hsin Mei Lin & I-Fan Yen, 2015. "The Determinants of Chinese MNEs’ Performance Effect: China OFDI From the Portfolio Perspective," Springer Books, in: Zhenji Zhang & Zuojun Max Shen & Juliang Zhang & Runtong Zhang (ed.), Liss 2014, edition 127, pages 1585-1589, Springer.
    • Handle: RePEc:spr:sprchp:978-3-662-43871-8_228
    DOI: 10.1007/978-3-662-43871-8_228
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