雙邊制度差異對(duì)我國(guó)能源類企業(yè)對(duì)外直接投資的影響

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中圖分類號(hào)：F08 文獻(xiàn)標(biāo)識(shí)碼：A 文章編號(hào)：1004-0714（2025）07-0087-

Abstract：Based on the micro-enterprise data from the China Global Investment Tracker （CGIT），this study identifies horizontal outward foreign direct investment （OFDI） and constructs a four-dimensional institutional difference index.Usinga high-dimensional fixed-effect model，this paper empirically examines the heterogeneity of the impact of bilateral institutional differences on the OFDI of China's energy enterprises.Theresultsshowthatthereisasignificant negativecorrelation between horizontalOFDIandthebilateral institutional difference index.Horizontal OFDI in energy industries is less negativelyaffected by differences in public institutions and business environments，while non-energy industries are more strongly negativelyimpacted by differences in financial institutions and labor institutions.

Keywords：Horizontal Outward Foreign Direct Investment; Bilateral Institutional Differences; Consumer Preferences

一、問題的提出

我國(guó)是全球能源消耗大國(guó)之一，能源問題關(guān)乎國(guó)家的發(fā)展、民族的命運(yùn)。（剩余8328字）