近年來,探討新興經濟體國家的對外投資與母國企業生產力之間的影響已經成為大家關心的議題。本研究之研究對象為中國大陸,自2011至2018年間,選擇在上海及深圳交易所上市之中國對外直接投資廠商作為研究樣本。使用廠商層級資料作分析的原因在於,可以較容易觀察個別廠商之間的競爭關係,政府也比較容易設計有益於未來發展的政策。本研究整合過去探討生產力之決定因素的理論,從對外直接投資、制度理論、資源基礎理論,三種面向去做實證研究分析。從實證結果可以發現,廠商對外直接投資的行為、內部資源的優勢與政府的政策,確實會影響中國廠商的生產力,表示對於未來的管理者來說,如果想要提高生產力就應該同時考慮這三個層面去制定發展策略。
In recent years, people focus on the relationship between firm’s productivity and foreign direct investment (FDI) within emerging economies. This study chooses Chinese firms as an empirical research. The data is selected from the firms on Shanghai and Shenzhen stock exchanges which is from 2011 to 2018. We use firm-level data to do the research because it is easy to observe the competitiveness among firms and to design the policies that are good for the future by the government. This study integrates the theoretical views that used to discuss the determinants of firm’s productivity. These three dimensions are foreign direct investment, institutional theory, and the resource-based view. From the empirical results, the productivity is caused by the foreign direct investment behavior of the manufacturers, the advantages of internal resources and the policy of the government. Managers should consider these three perspectives to develop strategy.