Enterprises' Overseas Investment Risk-taking and the Development of New Quality Productive Forces

PENG Cheng; CHEN Yuansheng

Volume 40 Issue 1

Jan. 2025

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PENG Cheng, CHEN Yuansheng. Enterprises' Overseas Investment Risk-taking and the Development of New Quality Productive Forces[J]. Journal of Guangdong University of Finance & Economics, 2025, 40(1): 61-76.

Citation:

PENG Cheng, CHEN Yuansheng. Enterprises' Overseas Investment Risk-taking and the Development of New Quality Productive Forces[J]. Journal of Guangdong University of Finance & Economics, 2025, 40(1): 61-76.

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Enterprises' Overseas Investment Risk-taking and the Development of New Quality Productive Forces

College of Finance and Economics, Sichuan International Studies University, Chongqing 400031, China

Received Date: 2024-10-08
Available Online: 2025-03-01
Publish Date: 2025-01-28

Abstract

Abstract

Under the trend of Chinese enterprises going global on a large scale, promotion of the smooth flow of global high-quality factors of production to the development of new quality productive forces in the context of risk prevention and control has become an important issue of great concern at present. Based on the sample data of Chinese listed companies from 2015 to 2022, the study explores the mechanism of overseas investment risk-taking on corporate new quality productive forces. This study finds that there is an inverted U-shaped non-linear relationship between overseas investment risk-taking and corporate new quality productive forces, and as the level of overseas investment risk-taking rises, corporate new quality productive forces show a significant characteristic of rising first and then falling later. Based on the samples of this study, it is found that within the risk range of 0 to 0.399, overseas investment risk-taking can significantly enhance corporate new quality productive forces, and if it exceeds 0.399, it negatively impacts these forces. Mechanism analysis reveals that innovation efficiency improvement, investment return compensation, and internal control strengthening are the important mechanisms through which overseas investment risk-taking affects corporate new quality productive forces. Further research finds that contextual factors such as mimetic isomorphism, policy orientation, and the nature of property rights significantly moderated the non-linear relationship between overseas investment risk-taking and corporate new quality productive forces. This study can also provide empirical evidence for the optimizing enterprise foreign investment decisions and formulating government policies to promote high-quality development of firms.
- overseas investment,
- risk-taking,
- new quality productive forces

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References(41)

References

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