Experience Accumulation and the Dynamic Feedback of OFDI——An Empirical Study from Chinese Mining Industry Companies
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Abstract This paper examines the dynamic feedback effect of OFDI activities from experience accumulation. Based on data from Chinese mining industry companies, by matching the Chinese Industrial Enterprises Database and the List of Overseas Investment Enterprises (Institutions) from the Ministry of Commerce, this paper finds that companies’ former OFDI experiences have significant positive dynamic feedback on their latter OFDI activities. Besides, the companies’ scales also have significant positive impact on their OFDI. However, there is no evidence showing that the companies’ exports and the level of IFDI would affect the activities of OFDI. Multi-year test shows that, subprime mortgage crisis created opportunities for Chinese mining companies to invest abroad, while it weakened the marginal impact of experience accumulation. Under the rapid expansion of globalization, government policy is critical in the OFDI experience accumulation which could help domestic companies to achieve strategic assets and capabilities that could not be acquired in local market.
CHEN Chen,CHEN Taotao. Experience Accumulation and the Dynamic Feedback of OFDI——An Empirical Study from Chinese Mining Industry Companies. Economic Survey, 2020, 37(2): 061.
2020, Vol. 37 
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