5324 
6469文章基于微观企业数据和世界投入产出数据库（WIOD），借鉴Antràs等（2012）以及Chor等（2014）计算上游度指数的方法，测算得到中国企业在全球生产链上的嵌入位置，并考察了嵌入位置对企业对外投资决策的影响。研究发现，处于生产链两端的企业对外投资的可能性较高。具体来说，进口嵌入位置越处于上游，企业越倾向于对外直接投资；而出口嵌入位置越处于下游，企业越倾向于对外直接投资。在考虑了嵌入位置替代指标、内生性问题和稀有事件影响后，上述结果仍然稳健。此外，企业在全球生产链上的嵌入位置对其投资的动机、区位和频次都存在异质性影响。文章的研究在一定程度上揭示了中国企业参与全球贸易和全球生产网络的内在逻辑，有助于政府部门更有针对性地制定“走出去”的政策措施和提供差异化的政策支持，更好地引导企业的对外直接投资。
全球生产链嵌入位置如何影响中国企业的对外直接投资？
摘要
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引用本文
陈琳, 房超, 田素华, 等. 全球生产链嵌入位置如何影响中国企业的对外直接投资？[J]. 财经研究, 2019, 45(10): 86-99.
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