【作者】 陈景华；

【导师】 刘庆林；

【作者基本信息】 山东大学 ， 国际贸易学， 2014， 博士

【摘要】 服务业的国际化对一个融入全球经济的发展中经济体具有重要意义。《中国服务业发展报告2012》中指出,经济体成熟的一个重要的标准就是服务业占比不断提高。《中国服务业发展报告2013》中指出,服务业早在2011年就是劳动就业的第一大部门,2011年、2012年连续两年服务业利用外资都超过了制造业。服务经济在国民经济和社会发展中正发挥着越来越重要的作用。全球化正在深化,一个国家或经济体的服务业能够广泛而深入地参与到全球化的进程中,对该国服务业发展水平的提高至关重要。在服务业全球化程度日益加深的背景下,中国服务业参与全球化是中国经济发展转方式调结构的必然选择。从服务贸易、服务业FDI以及服务业外包三个重要指标看,中国与世界先进水平还有一定的差距,但也体现出中国巨大的发展潜力。在这样的现实背景下,中国服务业参与全球化的问题得到政府和学术界的广泛关注。异质性企业贸易理论也称为新新贸易理论,是目前和未来研究国际贸易以及国际投资问题的主导方向和趋势,但该理论体系还不够完善,需要进一步地扩展研究领域和研究对象。然而从现有文献看,大多数的国内外文献都是研究制造业的异质性企业参与国际贸易和国际投资活动。主要研究论题是异质性制造企业的国际化路径选择,以及参与国际化的不同生产率水平的企业内生边界的确定。在全球经济转向服务业的发展背景下,将异质性企业贸易理论关于企业异质性的假定延伸到对服务企业的研究中,研究异质性服务企业参与国际市场的模式选择,以及全球安排生产活动的组织模式选择,这无疑具有重大的理论意义和现实意义。当前我国要促进服务业发展,进一步扩大服务业开放,拓宽和深化我国参与全球分工的产业链,提升我国在全球分工体系的地位,建立新型开放体系。在异质性企业贸易理论的指导下,将理论和实证研究进一步扩展,研究我国服务企业是否应该走出去,通过什么方式走出去,以及哪些企业应该首先走出去,能否以更大规模更高水平的参与全球服务业分工体系,对我们有至关重要的理论和现实意义。本文主要在异质性企业贸易理论的基本假设下,研究异质性服务企业参与国际市场时出口与FDI两种模式的选择；在服务企业在全球安排生产活动时FDI与外包的选择；在服务企业以FDI的模式参与国际市场时,绿地投资与跨国并购的选择问题。本文采用文献梳理、理论模型构建、比较研究、计量分析等方法,研究企业异质性视角下,服务企业出口、FDI与外包的选择,得出如下结论：第一,以制造业企业为研究对象的异质性企业贸易理论基本上适用于对异质性服务企业国际贸易和国际投资行为的研究。在假设企业已经明确自身的生产率水平且服务产品都是异质的条件下,生产率较高的服务企业会开展FDI；生产率次高的企业会选择服务贸易出口；生产率最低的企业在供应国内市场。由于模型中假设企业对自身生产率状况是明确的,因此不存在企业退出市场的选择。第二,企业生产率差异是决定服务贸易出口和服务业FDI选择的重要因素,但不是唯一因素；发展中国家的服务业OFDI呈现出与发达国家不同的特征。利用中国服务业分行业面板数据,可以验证生产率差异对服务企业不同国际市场进入模式选择的影响。第三,要素密集度不同的服务行业,服务业跨国公司对FDI和离岸外包的组织模式选择不同。在契约不完全的情况下,企业生产率的差异能够影响企业FDI与外包组织模式的选择：资本密集型行业中,高生产率的企业选择FDI的组织模式；而生产率较低的企业选择离岸外包的组织模式。第四,在服务业各行业中,由于企业流动能力在不同行业中的表现不同,从而不同行业的服务业跨国公司对绿地投资和跨国并购的选择不同。在研发技术密集型行业,效率(生产率)较高的企业会选择跨国并购,而效率(生产率)相对较低的企业会选择绿地投资；而在人力资本密集型行业和广告营销密集型行业,效率(生产率)较高的企业会选择绿地投资,而效率(生产率)较低的企业会选择跨国并购。本文包括6章内容,其基本结构和主要内容如下：第1章为导言,主要阐述本文的研究背景和研究意义,研究方法和主要研究内容,以及主要创新点等。第2章为相关文献综述。梳理了异质性企业国际市场进入模式和国际生产组织模式选择的理论和实证分析,以及服务业参与国际化的理论和实证研究,指出当前异质性企业贸易理论没有扩展到服务领域,引出本文研究的出发点。第3章为异质性服务企业服务贸易出口与服务业FDI的选择研究。在Helpman等(2004)的理论框架基础上,得出异质性服务企业出口与FDI选择的条件；然后利用服务业行业和企业的数据进行实证检验。第4章为异质性服务企业FDI与外包的选择研究。在Antras和Helpman(2004)的理论框架基础上,得出异质性服务企业FDI与外包选择的条件；然后利用中国各地区承接服务外包规模以及各地区的契约不完全程度,从侧面检验影响服务企业FDI与外包选择的影响因素。第5章为异质性服务企业绿地投资与跨国并购的选择研究。在Nocke和Yeaple(2007)的理论框架基础上,得出异质性服务企业绿地投资与跨国并购的选择条件；然后利用全球服务业内部各个行业中跨国并购与绿地投资的比较分析,得出要素密集度不同的行业的企业倾向于不同的选择。第6章为结论和政策建议。相对于已有文献,本文尝试在以下方面进行探索性研究：第一,将异质性企业贸易理论的经典模型应用到异质性服务企业出口与FDI选择的研究上,发现生产率表示的企业异质性是企业服务贸易出口和服务业FDI选择的重要决定影响。利用中国服务业行业层面和全球最大的服务业跨国公司企业层面的数据对理论进行验证；将企业异质性与国际投资的OLI范式相结合,找出影响中国服务企业服务贸易出口和服务业OFDI的重要影响因素。第二,对异质性企业国际生产组织模式选择的模型进行修正,建立适用于异质性服务企业FDI与外包选择的模型。得出在契约不完全的条件下,不同的服务行业由于核心服务的密集程度不同,导致对剩余所有权的控制能力不同,使得企业对FDI和离岸外包的选择不同。在经验分析中,从中国作为服务外包承接国的角度侧面检验了契约不完全对跨国公司离岸外包行为的影响,得出契约不完全的程度越低,跨国公司越倾向于选择外包的组织模式。第三,对异质性企业的FDI进入模型进行调整和修正,用以解释异质性服务企业绿地投资和跨国并购的行为选择。得出要素密集度不同的服务行业中,企业对绿地投资和跨国并购的选择不同。在经验分析中,利用全球服务业跨国并购和绿地投资的数据,通过对比和定量分析,得出不同行业中跨国公司有不同的选择,并总结出一般性的结论,与理论分析的结果基本一致。更多还原

【Abstract】 The internationalization of service industries is important for a developing country participated in the global economy.<China Services Development Report2012>showed that the increasing of the proportion of service sector was an important criterion for mature economies.<China Services Development Report2013>showed that service industries were the biggest sectors of employment as early as in2011. And utilization of FDI in service is more than in manufacture sector in2011and2012. It is sure that service economy is playing an important role in the national economy and social development. It is essential for a country to improve service level if the country’s service industry can be involved in the process of globalization widely and deeply. Under this background, China’s service industry to participate in globalization is the inevitable choice. There are huge potential for China’s development in service trade, service FDI and service outsourcing. Under this reality, China’s service industry involved in the globalization have been widely concerned by government and academia.Heterogeneous firms trade theory can be called the new new trade theory. It is leading the current and future research directions and trends in international trade and investment. But the theoretical system is still not perfect and it need to expand the research areas. Now most of the research literatures were about the heterogenous firms in manufacturing to participate the international trade and investment activities. The global economy is transferring to services. Under this situation to study the international market enry mode and international production pattern of heterogeneous firms in services is great importment. To promote the development of China’s services and to expand the liberalization of services, and then to establish a new open system. In this paper, under the basic assumptions of heterogeneous firms trade theory, to study the heterogeneity service firms how to participate in international markets, by FDI or export; to study the heterogeneity service firms how to arrenge the production activities in the global through FDI or outsourcing; to study the FDI entry mode of heterogeneity service firms bu cross-border mergers and acquisitions and greenfield investment.In this paper, we used the research methods including the literature review, theoretical modeling, comparative studies, and econoinetrics analysis method to study heterogenous service firms’s choice under service export, service FDI or service outsourcing. On the basis of these research methods, the main research conclusions of this paper are as follows:First, the heterogenous firm trade theory for manufacturing is suitable for the study of heterogeneous firms in services. Under the assumption that the enterprise has made their productivity levels clear and service products are heterogeneous, we found the service firm with higher productivity will carry out FDI in international market; the service firm with little higher productivity will choose services.export to international market; and the firms with the least productive will product and service in the domestic market. Since the model assumes that the firms know their productivity, the choice of business out of the market and therefore do not exist.Second, productivity differences of heterogeneous firms are the important factors that determine firms’ choice between service FDI and services exports, but it is not the only factor. There are different characteristics between services OFDI from developing countries and developed countries. Based on the panel data of China’s service industry, we can test the impact of productivity differences on service firms’ selection of different international markets entry mode.Third, the different elements intensity in service sector, the service firms in this sector will choose a different organizational mode, service FDI or service outsourcing. In the case of incomplete contracts, differences in firm productivity can influence the choice of FDI and outsourcing:the firm with higher productivity will choose FDI, while the firm with lower productivity will choose outsourcing in other countries.Fourth, in the service industry, due to the flow capacity of firm is different in different sectors, so different services multinational companies in different industries will have different choice between Greenfield investments and cross-border mergers and acquisitions. In the R&D-intensive industries, the firm with higher efficiency (productivity) will choose to cross-border M&A. While in human capital-intensive industries, and advertising and marketing-intensive industries, the firm with higher efficiency (productivity) will choose Greenfield investment..This research consists of six chapters. The first chapter is introduction, which introduces the background and purpose of this research, research methods, theoretical framework, structure and contribution. Chapter2is literature review. It synthesizes the existing research by domestic and foreign scholars from theoretical and empirical levels and points out the shortcoming. On this basis, it raises starting point of this study. Chapter3to study heterogenous firms in service how to made choosen between service export and FDI. On the basis of the theoretical framework of Helpman (2004), to catch the conditions of heterogeneous firms wheather services export or FDI; then use the services industry and firm-level data for empirical testing.Chanper4is the selection of the heterogeneity firm in FDI and outsourcing. Based on the theoretical framework of Antras and Helpman (2004), to gain the selected conditions in FDI and outsourcing for heterogeneity service firms.Then using provincial panel data of China to test the impact of incomplete contract on services outsourcing. Chapter5is the selection of heterogeneous services firms in Greenfield investment and cross-border mergers and acquisitions. Based the theoretical framework of Nocke and Yeaple (2007), to get the selection criteria in Greenfield investments and cross-border M&A for heterogeneous service firms. Then using the comparative analysis method to reaearch the different choice between Greenfield investments and cross-border mergers and acquisitions in internal services worldwide. It showes that different firms in different sectors own different elements intensive tend to make different choices. Chapter6is the conclusions and policy recommendations.This paper has done exploratory research in the followiny aspects:First, make the classical model of heterogeneous firms trade theory applied to the study of heterogeneity service firms’choice between export and FDI.The impact of firm heterogeneity in productivity on services exports and FDI. In the empirical study, using the sector-level data from China and the firm-level data from the world’s largest service multinational corportations to validate the theory; and combining heterogeneous firms with OLI paradigm of international investment, to identify the impact factors of China’s service export and service OFDI.Second, to amend the model of heterogeneous firms’ international production organization mode selection, and make it suit heterogeneous services company selected in service FDI and service outsourcing. Under the conditions of incomplete contract, different service sectors due to different intensity of core services, resulting in the different controlling of remaining ownership, and then firms have dfferent choice in FDI and outsourcing. In the empirical analysis, using the province-level panel data from China to test the impact of incomplete contract on outsourcing, the lower the incomplete contract, the bigger scale of service outsourcing.Third, to adjust the heterogeneous firms FDI entry mode model to explain the heterogeneity service firms made choice in Greenfield investment and cross-border M&A. The service sector with different factor intensity, the firms may make different choices in Greenfield investments and cross-border M&A. In the empirical analysis, using data from global M&A database to compare the multinational companies in different sectors have different options, and summed up the general conclusion is consistent with the results of theoretical analysis.更多还原