| OFDI of Chinese enterprises has become a new research frontier of international economics,especially the field of international investment.With the continuous promotion of the "One Belt One Road" and "going out" strategy put forward by the Chinese government,the outward investment behavior of Chinese enterprises has changed significantly.However,in the international investment environment,faced with social and cultural differences of different countries and regions,potential risks,vicious competition between local or other foreign competitors and other issues,what kind of dynamic behavioral correlation or behavioral rules do Chinese OFDI enterprises show in the path of going out? Why do they exhibit such behavioral associations and regularities? Are there any differences in the path network and behavior rules of going out among different types of Chinese OFDI enterprises? How does the "One Belt One Road" affect the choice of going out path of China’s OFDI enterprises? These relationships and rules of dynamic behavior deserve further research.In this paper,the dynamic behavior of Chinese OFDI enterprises is defined as the action arrangements taken by OFDI enterprises of different times during the OFDI process,and the correlation of the dynamic behavior of OFDI enterprises is the overall relationship and development logic shown by the investment behavior arrangements in these periods before and after.according to this condition,this article Based on the List of Overseas Investment Enterprises(Institutions)issued by the Ministry of Commerce,this paper summarizes the outbound investment information of China’s OFDI enterprises as of February 6,2016.and verify the the investment destination,the name of OFDI enterprise,location,Screening criteria such as approval date of OFDI enterprises,finally extracted 3201 OFDI enterprises in our country in 185 investment destination countries(regions)of dynamic investment path data.Then,based on the market correlation between enterprises’ prior investment behavior and latter investment behavior,this paper constructs the dynamic behavior correlation network of China’s OFDI enterprises,and further constructs the going out path network considering the fequency and timeliness,and then develops the path preference network and path timeliness network.On the basis of network,this paper using the method of social network to analysis the path of China’s OFDI enterprises to go out,path preference network(including the prior investment preferences and latter investment preferences networks)and the path of network(including the prior investment limitation of Top network and the latter timeliness Top network)of the structure characteristics and evolution,through the number of network nodes,the number of edges,network diameter,average path length,cluster coefficient and reciprocity coefficient index to depict the whole network structure characteristics,and through the degree centricity,intermediary centricity,and close to the central index depicting the individual behavior characteristics of the network nodes.At the same time,this paper analysis the "area" initiative put forward China’s OFDI enterprise investment behavior in the network before and after each destination country(region)of the position and function of change,also based on the industry type,region,belong to enterprise size and the nature of the enterprise management,respectively discusses the investment behavior of enterprises of different types of connection and difference.After that,the article analyzes the formation mechanism OFDI enterprise dynamic behavior associated network and put forward the corresponding research hypothesis,and then using the index of random graph model(ERGM)formation mechanism analysis which refers to the network structural effect,the network behavior effect and external covariate network effect,and we attribute all those factors to this model,and then we did the variable inspection of the path to the dynamic behavior associated with preference and formation mechanism of path timeliness network respectively,and based on the "one belt one road" initiative and the difference of enterprise and business to analysis.Finally,we get the research conclusions and policy Suggestions are.It is found that the overall going out path network of Chinese enterprises has a relatively distinct "small world" characteristics.In the process of going global,Chinese enterprises show a great degree of path dependence and learning and following,and the average time interval of paths is shorter.At the same time,there is a great degree of reciprocity in the path of Chinese enterprises going out,that is,the choice path of Chinese enterprises when entering two external markets is generally inclined to two-way choice.Before and after the "One Belt and One Road" initiative was proposed,the research results were heterogeneous and different according to the region presided over by the enterprise,industry type,business nature and business scale.The "One Belt And One Road" initiative has had an important impact on the structure of Chinese enterprises’ going global network.After the proposal,the target market scope of Chinese enterprises’ investment is more focused on countries along the Belt and Road,especially enterprises in central China,enterprises in the tertiary industry,state-owned enterprises and foreign-funded enterprises.From the perspective of driving effect,the "One Belt And One Road" initiative has promoted western enterprises,medium-sized enterprises and enterprises in the primary and secondary industries to go global,especially the primary industry.At the same time,after the proposal,Chinese enterprises have become more cautious in their choice of investment paths,especially small and medium-sized enterprises,tertiary industry enterprises and private enterprises.It is worth noting that after the "One Belt And One Road" initiative was put forward,the status and role of the countries along the belt and road in the going out route network of Chinese enterprises have been greatly improved,and Chinese enterprises prefer to use the countries along the road as investment destinations and "springboard" of market entry and exit.The empirical research results of ERGM show that in OFDI enterprises’ outbound path network,there is a high probability of reverse path selection on the basis of the original one-way path,and the selected path is more inclined to bidirectional path evolution.At the same time,the node status in the network has the "richer gets richer effect",and the countries(regions)taken as the outbound destinations by China’s OFDI enterprises in the first place are more likely to become the outbound destinations of OFDI enterprises in the second place.The larger the economic strength,population size and land area of a country(region)is,the more likely it is to have a higher inward attraction and outward expansion force in the outbound route network of China’s OFDI enterprises.In addition,China’s OFDI enterprises pay more attention to the cultural relations between countries(regions)when choosing the path of going out.Based on the study of the OFDI dynamic behavior correlation network of China’s OFDI enterprises,this paper mainly provides four contributions.Is first put forward the construction of China’s OFDI enterprise dynamic behavior associated network new analysis framework,based on the preamble of Chinese enterprises to go out for the first time investment markets and the subsequent market associations,system from investment path network,network path preference order before(including investment favour network)network and the subsequent investment and investment path aging network(including the sequence before investment limitation of Top and subsequent aging Top network)dimensions to build the Chinese OFDI companies such as dynamic behavior relation network,to effectively analyze the behavior of the Chinese enterprises go out rule provides a new research method and train of thought.Second is systematically on China’s OFDI enterprise dynamic behavior affiliate network structure characteristics and forming factors are analyzed,from the network as a whole and node level of network structure and its evolution system is analyzed,and on this basis,using the index of random graph model(ERGM)empirically the influence of the network main influencing factors,to understand the Chinese enterprises go out path mechanism lay the foundation.The third is to investigate the dynamic behavior of the enterprises of different types of China’s OFDI associated network structure characteristics and driving factors of the differences,the dynamic behavior of the associated network all enterprises are analyzed,and based on the area,the registered capital,the nature of the industry and enterprise,classifying Chinese OFDI enterprise samples,by comparative analysis of different types of enterprise investment behavior differences.Fourth,based on the proposed time of "One Belt And One Road",the overseas investment path of Chinese enterprises is divided into two stages,and isomorphic comparative analysis is made to clarify the influence of "One Belt And One Road" on the overseas investment dynamic investment path network of Chinese enterprises,as well as the status and function evolution of countries along the "One Belt And One Road" in the path network. |
