文献类型：期刊文献

英文题名：Export effect and influence mechanism of foreign ownership

作者：Ye, Zhiqiang[1];Zhang, Fangfang[2];Zhang, Shunming[3]

机构：[1]East China Univ Sci & Technol, Sch Business, Shanghai 200237, Peoples R China;[2]Wenzhou Business Coll, Sch Finance & Trade, Wenzhou 325035, Peoples R China;[3]Renmin Univ China, China Financial Policy Res Ctr, Beijing, Peoples R China

年份：2021

卷号：76

起止页码：258

外文期刊名：INTERNATIONAL REVIEW OF ECONOMICS & FINANCE

收录：;WOS:【SSCI(收录号:WOS:000709087300002)】；

基金：This work is supported by the National Natural Science Foundation of China (NSFC Grant numbers: 71573220 and 71773123) and Shanghai Philosophy and Social Sciences Planning Project, China (Grant number: 2018BJB013).

语种：英文

外文关键词：QFII; Export performance; State ownership; R&D

摘要：This paper empirically tests the export impact of foreign ownership by using the dataset of Chinese listed firms from 2003 to 2016. The robust results show that foreign ownership facilitates a company's exports significantly, but only long-term foreign investors can enhance export performance. We conclude that foreign ownership has a weaker promotive role on exports in state-owned enterprises (SOEs), compared with private enterprises. Finally, we examine whether the influence mechanism runs though R&D, but surprisingly there is no evidence to support this prediction, even for high-tech enterprises. This paper provides micro-evidence that foreign ownership can increase exports under the background of China's progressive equity reform and supplies indirect evidence of the information intermediary role of foreign ownership in promoting firm exports.