中国企业对外投资效益评价体系理论与方法研究

【作者】 浦军；

【导师】 马春光；

【作者基本信息】 对外经济贸易大学 ， 国际贸易， 2005， 博士

【摘要】 随着中国对外开放的进一步深入，经济全球化程度的进一步加强，中国企业应进一步加大对外投资的力度已成为理论界、实业界及政府监管部门的共识。随着中国企业对外投资力度的加大，各界对对外投资实施效果的关注程度也逐步提高。但如何来衡量对外投资效益，特别是如何构建对外投资效益评价体系，虽然有许多学者从不同的侧面进行了研究，可是从总体公开出版的文献来看，我国在这一领域的研究还尚不充分，在已有的文献中，也是宏观研究多，微观研究少；共性描述多，个性研究少；现象解释性研究多，理论创新研究少。总之，尚未形成一套适用于对外投资效益评价的独特评价方法体系。本研究在借鉴和吸收国内外研究成果的基础上，结合中国企业对外投资的特点，力求在理论研究上有所进展和创新，在中国企业对外投资效益评价体系的构建问题上提出自己独到的见解。本研究的主要工作围绕对外投资效益评价体系整体构建展开，立足于解决“如何科学地构建对外投资效益评价体系”这个基本问题。主要工作集中在以下几个方面：对目前效益评价指标研究进行了综合评价和剖析对外投资对国家和企业都具有十分重要的意义，特别是对于企业而言，往往一项对外投资效益评价，将极大的影响企业的效益。但是，从理论界来看，“对外投资效益评价体系”仍然是一个比较新的课题，在研究方法上的探讨也还不够深入。本研究试图在综合对比国内外现存的相关指标研究基础上，结合我国对外投资效益评价的特殊性，提出一些相应的理论补充，从而使研究能够在一个相对完整的基础上形成相对合理和相对完整的体系。针对企业对外投资效益评价体系构建理论与方法进行研究本研究根据对外投资效益评价体系的特点和构建程序对研究的基本问题进行了分解：首先对外投资效益评价中的一些要素，主要包括对外投资效益评价特殊性、评价目标、评价主体、评价客体等进行了论述；其次对对外投资效益评价<WP=4>指标体系中一些关键的问题进行了重点研究，特别是对评价指标的初选、指标体系的构建及指标的检验和优化三大构建核心问题展开了深入的研究并提出了独到的见解与方法。对外投资效益评价体系实施影响因素研究结合中国企业的特殊情况，本文讨论了研究对外投资效益评价体系影响因素的意义，以及在现有对外投资环境下，影响效益评价系统的主要因素及可以采取的对策。本论文的主要创新有如下几个方面：结合中国企业对外投资效益评价的特点，提出了对外投资效益评价体系指标初选的一种新的框架，创造性地将主观指标与客观指标结合在评价体系当中，较好地解决了实践中存在的难题，具有较强的现实指导意义；通过对现有指标构建方法的比较，综合其各自的优点，提出了适应对外投资效益评价特点的指标构建方法体系；更多还原

【Abstract】 Along with the intensified globalization of the world economy and the continuous openness of the Chinese economy, it has become a common view of academic researchers, practitioners and governmental officials that Chinese enterprises should enforce their foreign direct investments (hereinafter referred to as “FDI”). With the development of FDI of Chinese enterprises, the effectiveness or the performance of Chinese FDI has been the common interest and attracted more attention in all circles. However, although there are so many researches done by lots of scholars from different aspects of these questions, it is still a fresh research area on “how to value the effectiveness of FDI”, especially on “how to build a evaluation system of FDI”. Most of these researches, in general, are macro-oriented research, focusing on commonness of FDI evaluation or explanation of the phenomena. And there is still no specific methodology to building an evaluation system to measure the Chinese FDI effectiveness. Based on the previous studies on this subject, this paper strives to develop a new constitutional methodology of FDI evaluation system for Chinese enterprises and puts forward special viewpoints on how to build an appropriate evaluation system for Chinese FDI.This paper focuses on the evaluation system of Chinese FDI effectiveness. The basic research question is “how to build a scientific evaluation system to test FDI effectiveness”. The main work of this dissertation is as follows:1. The judgment and anatomy about the theories of effectiveness index systemForeign direct investment is of important significance both for countries and enterprises, especially the latter. It is a common phenomenon that the FDI effectiveness has heavy influence on the general performance of the enterprise. However, the Chinese FDI evaluation system and its methodology are still new field to look into. Based on the relative domestic and foreign studies, this paper tries to enrich the constitutional methodologies of the evaluation system and to analyze the particularities of Chinese FDI, which could build an integrated research base for further study.2. The research on FDI Evaluation SystemThis paper decompounds the basic research question based on the characteristics and procedures of the FDI evaluation systems. First, the paper discusses the factors of the <WP=6>FDI evaluation system under the particularities of FDI evaluation. These factors include the principal part, evaluation targets, evaluation objects, evaluation criteria and other factors of the evaluation system. Then the paper puts effort to some key questions in formation of the FDI evaluation system, such as the primary choices of evaluation index, constitution of index system and index system test and structure optimization.3. The research on the factors influencing the FDI Evaluation SystemBased on the particularities of Chinese enterprises, this study first discusses the significance of research on the factors influencing FDI evaluation system. Then the author analyses the main influencing factors and the ways to avoid those influences in the current FDI environment.The innovation of the paper can be summarized as follows:(1) Under the current environment of Chinese enterprises, the paper proposes a frame to get the primary choice of index, which combines the subjective and objective index in a creative way and solves the relative practical problems;(2) The paper combines the merits of current index constitutional methods by comparison and puts forward a constitutional system of index specifically for FDI evaluation;更多还原