【摘要】 在数字经济迅猛发展的背景下，东道国数字化水平是影响跨国企业OFDI的关键因素之一。从微观层面出发，以我国跨国公司海外子公司作为研究对象，探究东道国数字化水平对海外子公司生存绩效的影响及其影响机理。基于2008—2022年中国沪深A股上市公司海外子公司生存情况，采用Cox比例风险模型和OLS回归进行实证检验，研究发现：（1）东道国数字化发展水平越高，中国海外子公司生存绩效表现就越好；东道国数字化水平的提高能够通过缓解子公司融资约束问题，促进其生存绩效的提升；而移民网络能够强化东道国数字化水平对子公司融资约束的缓解作用；（2）东道国数字化水平对非国有、小规模和非制造业跨国企业的海外子公司生存绩效的促进作用更加显著。研究结论为提升我国跨国企业海外生存绩效提供了理论依据与实践指导。更多还原

【Abstract】 In the context of the digital economy, the digitalization level of the host country is one of the key factors influencing the outward foreign direct investment(OFDI) of multinational enterprises. This paper focuses on the micro-level, taking overseas subsidiaries of Chinese listed companies as the research object, to explore the impact of the host country’s digitalization level on the survival performance of overseas subsidiaries and its underlying mechanisms. Based on the survival data of overseas subsidiaries of Chinese A-share listed companies in Shanghai and Shenzhen from 2008 to 2022, empirical tests were conducted using the Cox proportional hazards model and ordinary least squares(OLS)regression. The results are as below. Firstly, the better the digitalization development level of the host country, the better the survival performance of Chinese overseas subsidiaries; improvements in the host country’s digitalization level can alleviate financing constraints faced by subsidiaries,thereby enhancing their survival performance, and immigrant networks can strengthen the mitigating effect of the host country’s digitalization level on subsidiary financing constraints. Secondly, to verify the robustness of our findings, this article conducted robustness tests by altering the sample year intervals, employing a binary selection model for regression, substituting explanatory variables, and performing endogeneity tests using both instrumental variable and missing variable methods. Thirdly, in further discussions, the study found that the promoting effect on the survival performance of overseas subsidiaries is more significant among non-state-owned, small-scale, and non-manufacturing multinational enterprises. The research conclusions provide important policy insights and practical implications for Chinese enterprises to successfully going on by leveraging the role of host country digitalization while going out.更多还原