Research On Influential Factors Of China's Agricultural Enterprise Outward Foreign Direct Investment

With the deepening of economic globalization and Chinese economic reform and opening-up process,and also with the accelerating process of industrialization and urbanization in China,a series issues related to national security are highlighted,such as ecological and environmental pressures,lack of cultivated land resources and food supply and so on.It is necessary for Chinese agricultural enterprises to directly to face a new hot topic on how to use "two markets and two resources".Therefore,how to "go out" to fully participate in the international competition,it is a great practical problem that Chinese agricultural enterprise should encounter during their international development."Going out" is not only the key to enhance the international competitiveness of agricultural enterprises,but also an important measure to ensure national grain security.At the same time,it also conforms to the requirements of China's implementing strategy layout for enterprises internationalization.Obviously,it is an effective way to realize "going international" for China's agricultural enterprises to promote outward foreign direct investment.It is worth noting that,at present,the overall scale of Chinese agricultural department's outward foreign direct investment accounts is severely low.It is obvious that this is extremely not commensurate with many requirements such as the basic status of agriculture,the guarantee of national grain security,the adjustment of industrial structure,and the promotion of international competitiveness of agricultural enterprises and so on.Meanwhile,influenced by the agricultural characteristics because of both industrial natural weakness and industrial market one,the development of agricultural enterprises and its internationalization is endued with the characteristics of agriculture,and agricultural enterprise carrying out outward foreign direct investment will be certainly affected by various factors.Therefore,it will help to provide some a theoretical guidance for the internationalization of China's agricultural enterprise to make a specific research on influential factors of China's agricultural enterprise outward foreign direct investment and to explore the special laws of China's enterprise outward foreign investment.There is no doubt that this research has both great theoretical value and practical significance.By use of the modern theory of outward foreign direct investment and enterprise internationalization,on the basis of a comprehensive review of many literatures related to China's enterprise outward foreign investment,after analyzing the present situation ofChina's enterprise outward foreign investment,combined with the relevant data from2003 to 2014 years in China,through establishing of an econometric model based on the systemic review of the literature and theory,this paper put the emphasis on empirical research on influential factors of China's agricultural enterprise outward foreign direct investment and also analyzing the existing problems that China's agricultural enterprise are facing during their implementing outward foreign direct investment.And some relevant policy and the countermeasure suggestion are finally put forward respectively from the perspective of government and the enterprise.Researches show that: there are some differences in the direction and in the degree of influence of the factors that affect the outward foreign direct investment of Chinese agricultural enterprises,among them,development level of agricultural economic,international trade scale of agricultural products,foreign exchange reserves,the actual scale of inward foreign direct investment used by agriculture in China,foreign aid scale,arable land area,national policy support for agricultural,agricultural technology capacity have a significant positive effect on the outward foreign direct investment of China's agricultural enterprise,but the exchange rate of RMB to USD has a significant negative one.And the influence level of these factors are listed as following from the highest to the lowest: foreign exchange reserve scale,the development level of agriculture economic,national policy support for agriculture,export scale of agricultural products,import scale of agricultural products,the exchange rate of RMB to USD,foreign aid,arable land area,actual scale of inward foreign direct investment used by agricultural sector,agricultural technology capacity.