关键词: &ldquo, 战略三角&rdquo

Abstract: Abstract: With the rapid development of China’s outward foreign direct investment ,the study on driving mechanism has been significant.Based on the “Strategy tripod” this paper studies driving mechanism of China’s outward foreign direct investment.Using a firm-level micro-data of Chinese listed companies in manufacturing industry, we consider three different levels of analysis variables-firm, industry and country . The result shows that China’s OFDI is positive influenced by such characteristics as scale and R&D inputs of the company, competition and technology intensity of the industry. There are three main conclusions: First, company resources, especially technical skills are the basis for outward direct investment; Second, scale of the company has a positive impact on the degree of internationalization .The scale economy can compensate the ownership disadvantage faced by “going out” companies; Third, outward direct investment is influenced by industrial characteristics. Those industries with high competition and technology intensity can go out fastly than other industries.

Key words: &ldquo, Strategy tripod&rdquo