Outward foreign direct investment by emerging market firms: A resource dependence logic
研究资源依赖逻辑如何解释新兴市场企业对外直接投资，发现中外企业间的共生、竞争和伙伴依赖关系会促进中国企业对外投资，但国有股权高的企业受外资压力影响较小。
This study examines and extends the resource dependence logic of diversification for a better understanding of outward foreign direct investment ( OFDI ) activities by emerging market firms. We contend that the diversification logic is bounded by state ownership, an important but less considered component of interdependence. Our empirical results, based on panel data analysis of Chinese listed firms, suggest that the level of interdependence between Chinese and foreign firms in China in multiple forms, including symbiotic, competitive, and partner interdependencies, is positively associated with the level of the Chinese firms' OFDI activities. However, Chinese firms with higher levels of state ownership are less susceptible to the pressures imposed by foreign firms to invest abroad . Copyright © 2013 John Wiley & Sons, Ltd.