来华留学生对中国企业跨国并购的影响 ——基于东南亚政治、经济环境的调节效应
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摘要
在“走出去”政策和“一带一路”倡议下，中国企业对“一带一路”沿线国家的跨国并 购日益活跃。在各国文化多样性特征下，作为跨国并购重要影响因素的文化交流，积极促进了 双边企业达到文化认同，实现合作共赢。来华留学生作为文化交流的重要群体，是否能对中国 企业跨国并购产生影响？本文基于 2006-2018 年东南亚来华留学生和中国在东南亚跨国并购的 面板数据，在已有研究的基础上，通过固定效应模型，进行基准检验、调节效应检验和稳健性 检验，实证研究得出东南亚来华留学生积极促进中国企业在东南亚跨国并购的意愿事件和成功 事件，政治环境、经济环境调节作用不显著，双边汇率、人口密度、技术水平、自然资源禀赋 是重要影响因素。研究结果为中国企业跨国并购影响因素的扩展提供了有益启示，对诠释来华 留学生文化效应提升中国企业跨国并购成功率具有重要意义。
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Chinese Journal of Social Science and Management Editorial Division
The Office of Research and Development, Panyapiwat Institute of Management
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Tel. 02 855 01048 E-mail: cjssm@pim.ac.th
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