Knowledge Seeking and Outward FDI of Emerging Market Firms: The Moderating Effect of Inward FDI
研究东道国行业技术优势如何影响新兴市场跨国企业投资决策，并发现对内直接投资的知识溢出会降低企业为寻求知识而对外投资的倾向，基于中国制造业企业数据验证。
This study examines whether a host country's industry‐specific technology advantage increases the propensity of emerging market multinational enterprises ( EMNEs ) to invest in the host country. The study further explores whether inward FDI in EMNEs ' home markets, by generating knowledge spillovers in the relevant industries, decreases EMNEs ' propensity to invest overseas for knowledge seeking. We test our arguments using a longitudinal data set of the overseas investment activities of C hinese manufacturing firms. We find support for our hypotheses after controlling for other important outward FDI motives. We discuss the implications of our results for research and practice.