Regionalization Or Globalization:the Impact Of Experience On Investperformance Of Chinese Enterprises

Affected by the development of economic globalization,more and more enterprises interested in global investment to achieve greater performance,but so far,according to the success rate of foreign investment of enterprise in China,scanty enterprises can reach the level of globalization and obtain considerable gains,therefore,this paper will be combined with the specific circumstances of China to analyze the behavior of overseas investment of Chinese enterprises,in order to give advices to enterprises which strategy they should take,at the level of regionalization or big step towards globalization?Theoretical analysis and empirical analysis are used in this paper.First of all,this paper will summarize and analyze the status of foreign investment location distribution of Chinese enterprises,and indicate the significance of this study.Secondly,this paper will review the theories of globalization,regionalization and experience learning,which provides a theoretical reference for the study of the effects of experience learning with different range on the performance of international investment.Then,this paper will describe the theoretical development of the article and put forward the hypothesis to explain the problem of globalization from the perspective of experience learning,this paper will divide the experience into three levels: country level,regional level and global level.We judge whether the enterprise can move towards globalization depending on whether experience in global level will enhance the invest performance.In consideration of the specific conditions in China,the paper will analyze the experience in and outside the region of "The Belt and Road",to verify the practical significance of this strategy.Finally,according to the conclusions of the study,I will put forward recommendations for our enterprises to better perform overseas.At the same time,this paper also points out the limitations and prospects of the research.The study found U type relationship between experience and performance in country level and regional level,the early period when enterprise engaged in invest overseas,the experience will have a negative impact on the investment performance,with the gradual development of the enterprise,and accumulated to a certain experience,experience will have a positive impact on investment performance,and experience with global level only have a negative impact on the investment performance,experience cannot promote the enterprise to reach globalization.At the same time,this paper also concluded that experience within the region "The Belt and Road" can promote foreign investment performance,and experience outside the region “The Belt and Road "have a neglect impact on enterprise investment performance.Finally,the empirical results also show that geographical dispersion and expansion pace have moderate impact on the relationship between experience and investment performance.