Research on the Interrelationship between the Financing Structure of State-owned Enterprises and Their Transnational Investment Behavior

DOI

10.2991/ssmi-18.2019.10How to use a DOI?

Keywords

State-owned Transnational Enterprises; Financing structure; Transnational investment behavior.

Abstract

The reform of state-owned enterprises and accelerated pace of "one belt and one road" construction led to the optimization of the policy system environment which have promoted the state-owned enterprises to become the main force of overseas investment. The preliminary formation of diversified financing pattern in which multiple financing modes coexist proves that the changes of the transnational investment behavior characteristics of State-owned Transnational Enterprises are related with the changes of financing environment and characteristics. This paper makes an empirical analysis of the overseas investment behavior of State-owned Transnational Enterprises under soft financing constraints, and draws the conclusion that the sensitivity of overseas investment to financing constraints is higher than that of investment opportunities, and the influence of home country's policies, especially the financing environment, is more prominent than that of host country's government's policies. The impact of investment opportunities on the overseas investment of multinational enterprises is more significant.

Copyright

© 2019, the Authors. Published by Atlantis Press.

Open Access

This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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TY  - CONF
AU  - Yang Liu
AU  - Meng Zhang
AU  - Jing Cheng
PY  - 2019/02
DA  - 2019/02
TI  - Research on the Interrelationship between the Financing Structure of State-owned Enterprises and Their Transnational Investment Behavior
BT  - Proceedings of the 2018 International Symposium on Social Science and Management Innovation (SSMI 2018)
PB  - Atlantis Press
SP  - 50
EP  - 56
SN  - 2352-5428
UR  - https://doi.org/10.2991/ssmi-18.2019.10
DO  - 10.2991/ssmi-18.2019.10
ID  - Liu2019/02
ER  -