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216在逆全球化趋势加剧的背景下，美国政府补贴如何影响美国企业国际化行为，是一个值得深入探究的议题。文章基于2011—2021年间美国上市公司数据，实证考察了美国政府补贴对美国企业绿地投资决策的影响。研究发现，美国政府补贴显著促进了美国企业的绿地投资行为。机制分析表明，美国政府补贴能够通过缓解美国企业融资约束、降低企业经营风险推动其进行绿地投资。企业异质性分析表明，补贴对绿地投资的促进效应仅在生产率高、所在行业竞争更激烈的企业中显著，同时在关键与新兴技术产业中显著高于其他产业。目的国异质性分析表明，美国企业在获得补贴后开展绿地投资的核心动机是追求经济利益最大化，具体表现为获取劳动力、开拓市场和寻求创新资源，这显著驱动了对中国的投资偏好；相比之下，补贴推动的绿地投资与东道国是否属于美国近岸国或友岸国等因素无显著关联。文章加深了对美国政府补贴与美国企业国际化决策之间关系的理解，也为中国应对美国产业政策以及优化补贴政策设计提供了政策启示。
美国政府补贴与企业绿地投资
摘要
参考文献
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引用本文
夏蓀瑶, 张雯倩, 全玥. 美国政府补贴与企业绿地投资[J]. 上海财经大学学报, 2026, 28(1): 97-112.
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