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制度理论的引入,为国际市场进入模式选择研究中对母国与东道国环境差异的刻画提供了良好的框架。尽管现有研究已经发现存在多种类型的制度差异,但还没有充分辨识出这些制度差异对进入模式选择的不同影响。通过对中国210家上市公司2008—2012年间发生的538项境外直接投资活动的实证研究发现,相比文化差异,规制差异对技术资源与进入模式之间关系的调节效应更加明显;而在东道国制度环境的分组检验中发现,在进入制度评分比中国高的东道国时,相比规制差异,文化差异对资源与进入模式之间关系的调节效应更加明显。以上研究为更全面、细致地理解制度理论对进入模式选择的影响提供了理论依据,也为中国企业国际化过程中进入模式的选择提供了实践指导。
The introduction of institutional theory provides a good framework for portraying the environmental differences between home and host countries in the study of the mode selection of international market entry. Although the existing studies have found that there are many types of institutional differences, the different effects of these institutional differences on the choice of entry mode have not yet been fully identified. Empirical studies on 538 foreign direct investment activities that took place in 210 Chinese listed companies from 2008 to 2012 found that the regulatory effect of regulatory differences on the relationship between technical resources and access patterns was more pronounced than that of cultural differences. Environmental group tests found that when compared to regulatory differences, the regulatory effect of cultural differences on the relationship between resource and access patterns became more pronounced when entering host countries with a higher institutional rating than China. The above research provides a theoretical basis for a more comprehensive and detailed understanding of the influence of institutional theory on the choice of mode of entry and also provides practical guidance for the choice of mode of entry in the process of internationalization of Chinese enterprises.