The Choice between Greenfield Investment and Cross-border MA:Empirical Research on Chinese Enterprises Investing in America

摘要

On the basis of the former researches, this article using the Binary Logit model, makes an empirical analysis on how the factors of enterprises influence the choice of Chinese enterprises between greenfield investment and cross-border M&A investing in America. As a result, we find that,①the multinational experiences is correlated positively with the opportunity ratio of choosing cross-border M&A,②the relation degree of product, the experiences in America ,the diversification strategy, the capital scale and the investment scale have no correlation with the opportunity ratio of choosing greenfield investment or cross-border M&A.