id sid tid token lemma pos fbem-503 1 1 frontiers frontier NOUN fbem-503 1 2 in in ADP fbem-503 1 3 business business NOUN fbem-503 1 4 , , PUNCT fbem-503 1 5 economics economic NOUN fbem-503 1 6 and and CCONJ fbem-503 1 7 management management NOUN fbem-503 1 8 issn issn PROPN fbem-503 1 9 : : PUNCT fbem-503 1 10 2766 2766 NUM fbem-503 1 11 - - PUNCT fbem-503 1 12 824x 824x NUM fbem-503 1 13 | | ADJ fbem-503 1 14 vol vol NOUN fbem-503 1 15 . . PROPN fbem-503 2 1 4 4 NUM fbem-503 2 2 , , PUNCT fbem-503 2 3 no no INTJ fbem-503 2 4 . . NOUN fbem-503 2 5 1 1 NUM fbem-503 2 6 , , PUNCT fbem-503 2 7 2022 2022 NUM fbem-503 2 8 58 58 NUM fbem-503 2 9 research research NOUN fbem-503 2 10 on on ADP fbem-503 2 11 the the DET fbem-503 2 12 effect effect NOUN fbem-503 2 13 of of ADP fbem-503 2 14 international international ADJ fbem-503 2 15 experience experience NOUN fbem-503 2 16 and and CCONJ fbem-503 2 17 market market NOUN fbem-503 2 18 distance distance NOUN fbem-503 2 19 on on ADP fbem-503 2 20 the the DET fbem-503 2 21 market market NOUN fbem-503 2 22 entry entry NOUN fbem-503 2 23 order order NOUN fbem-503 2 24 of of ADP fbem-503 2 25 enterprises enterprise NOUN fbem-503 2 26 yaxin yaxin PROPN fbem-503 2 27 li1 li1 NOUN fbem-503 2 28 , , PUNCT fbem-503 2 29 * * PUNCT fbem-503 2 30 jianhua jianhua PROPN fbem-503 2 31 lai2 lai2 PROPN fbem-503 2 32 1huazhong 1huazhong PROPN fbem-503 2 33 university university PROPN fbem-503 2 34 of of ADP fbem-503 2 35 science science NOUN fbem-503 2 36 and and CCONJ fbem-503 2 37 technology technology NOUN fbem-503 2 38 , , PUNCT fbem-503 2 39 wuhan wuhan PROPN fbem-503 2 40 430074 430074 PROPN fbem-503 2 41 , , PUNCT fbem-503 2 42 china china PROPN fbem-503 2 43 2south 2south NUM fbem-503 2 44 china china PROPN fbem-503 2 45 university university PROPN fbem-503 2 46 of of ADP fbem-503 2 47 technology technology PROPN fbem-503 2 48 , , PUNCT fbem-503 2 49 guangzhou guangzhou PROPN fbem-503 2 50 510006 510006 NUM fbem-503 2 51 , , PUNCT fbem-503 2 52 china china PROPN fbem-503 2 53 abstract abstract NOUN fbem-503 2 54 : : PUNCT fbem-503 2 55 with with ADP fbem-503 2 56 the the DET fbem-503 2 57 continuous continuous ADJ fbem-503 2 58 advancement advancement NOUN fbem-503 2 59 of of ADP fbem-503 2 60 china china PROPN fbem-503 2 61 's 's PART fbem-503 2 62 " " PUNCT fbem-503 2 63 going go VERB fbem-503 2 64 out out ADP fbem-503 2 65 " " PUNCT fbem-503 2 66 strategy strategy NOUN fbem-503 2 67 and and CCONJ fbem-503 2 68 remarkable remarkable ADJ fbem-503 2 69 achievements achievement NOUN fbem-503 2 70 in in ADP fbem-503 2 71 foreign foreign ADJ fbem-503 2 72 direct direct ADJ fbem-503 2 73 investment investment NOUN fbem-503 2 74 , , PUNCT fbem-503 2 75 china china PROPN fbem-503 2 76 has have AUX fbem-503 2 77 become become VERB fbem-503 2 78 one one NUM fbem-503 2 79 of of ADP fbem-503 2 80 the the DET fbem-503 2 81 world world NOUN fbem-503 2 82 's 's PART fbem-503 2 83 most most ADV fbem-503 2 84 active active ADJ fbem-503 2 85 and and CCONJ fbem-503 2 86 influential influential ADJ fbem-503 2 87 sources source NOUN fbem-503 2 88 of of ADP fbem-503 2 89 foreign foreign ADJ fbem-503 2 90 direct direct ADJ fbem-503 2 91 investment investment NOUN fbem-503 2 92 . . PUNCT fbem-503 3 1 chinese chinese ADJ fbem-503 3 2 enterprises enterprise NOUN fbem-503 3 3 have have AUX fbem-503 3 4 accumulated accumulate VERB fbem-503 3 5 rich rich ADJ fbem-503 3 6 and and CCONJ fbem-503 3 7 valuable valuable ADJ fbem-503 3 8 experience experience NOUN fbem-503 3 9 in in ADP fbem-503 3 10 the the DET fbem-503 3 11 past past ADJ fbem-503 3 12 decades decade NOUN fbem-503 3 13 . . PUNCT fbem-503 4 1 in in ADP fbem-503 4 2 this this DET fbem-503 4 3 process process NOUN fbem-503 4 4 , , PUNCT fbem-503 4 5 there there PRON fbem-503 4 6 are be VERB fbem-503 4 7 a a DET fbem-503 4 8 lot lot NOUN fbem-503 4 9 of of ADP fbem-503 4 10 continuous continuous ADJ fbem-503 4 11 fdi fdi NOUN fbem-503 4 12 behaviors behavior NOUN fbem-503 4 13 , , PUNCT fbem-503 4 14 and and CCONJ fbem-503 4 15 the the DET fbem-503 4 16 previous previous ADJ fbem-503 4 17 investment investment NOUN fbem-503 4 18 behaviors behavior NOUN fbem-503 4 19 will will AUX fbem-503 4 20 have have VERB fbem-503 4 21 an an DET fbem-503 4 22 important important ADJ fbem-503 4 23 impact impact NOUN fbem-503 4 24 on on ADP fbem-503 4 25 the the DET fbem-503 4 26 subsequent subsequent ADJ fbem-503 4 27 investment investment NOUN fbem-503 4 28 decisions decision NOUN fbem-503 4 29 . . PUNCT fbem-503 5 1 how how SCONJ fbem-503 5 2 do do AUX fbem-503 5 3 continuous continuous ADJ fbem-503 5 4 investments investment NOUN fbem-503 5 5 prioritize prioritize VERB fbem-503 5 6 market market NOUN fbem-503 5 7 entry entry NOUN fbem-503 5 8 ? ? PUNCT fbem-503 6 1 existing exist VERB fbem-503 6 2 studies study NOUN fbem-503 6 3 do do AUX fbem-503 6 4 not not PART fbem-503 6 5 pay pay VERB fbem-503 6 6 attention attention NOUN fbem-503 6 7 to to ADP fbem-503 6 8 the the DET fbem-503 6 9 correlation correlation NOUN fbem-503 6 10 between between ADP fbem-503 6 11 successive successive ADJ fbem-503 6 12 expansion expansion NOUN fbem-503 6 13 behaviors behavior NOUN fbem-503 6 14 , , PUNCT fbem-503 6 15 and and CCONJ fbem-503 6 16 there there PRON fbem-503 6 17 are be VERB fbem-503 6 18 some some DET fbem-503 6 19 gaps gap NOUN fbem-503 6 20 in in ADP fbem-503 6 21 the the DET fbem-503 6 22 research research NOUN fbem-503 6 23 on on ADP fbem-503 6 24 the the DET fbem-503 6 25 order order NOUN fbem-503 6 26 of of ADP fbem-503 6 27 international international ADJ fbem-503 6 28 market market NOUN fbem-503 6 29 entry entry NOUN fbem-503 6 30 of of ADP fbem-503 6 31 enterprises enterprise NOUN fbem-503 6 32 . . PUNCT fbem-503 7 1 from from ADP fbem-503 7 2 a a DET fbem-503 7 3 dynamic dynamic ADJ fbem-503 7 4 perspective perspective NOUN fbem-503 7 5 , , PUNCT fbem-503 7 6 this this DET fbem-503 7 7 paper paper NOUN fbem-503 7 8 adopts adopt VERB fbem-503 7 9 the the DET fbem-503 7 10 data datum NOUN fbem-503 7 11 from from ADP fbem-503 7 12 the the DET fbem-503 7 13 list list NOUN fbem-503 7 14 of of ADP fbem-503 7 15 overseas overseas ADJ fbem-503 7 16 investment investment NOUN fbem-503 7 17 enterprises enterprise NOUN fbem-503 7 18 ( ( PUNCT fbem-503 7 19 institutions institution NOUN fbem-503 7 20 ) ) PUNCT fbem-503 7 21 issued issue VERB fbem-503 7 22 by by ADP fbem-503 7 23 the the DET fbem-503 7 24 ministry ministry PROPN fbem-503 7 25 of of ADP fbem-503 7 26 commerce commerce PROPN fbem-503 7 27 of of ADP fbem-503 7 28 china china PROPN fbem-503 7 29 from from ADP fbem-503 7 30 1983 1983 NUM fbem-503 7 31 to to ADP fbem-503 7 32 2015 2015 NUM fbem-503 7 33 , , PUNCT fbem-503 7 34 and and CCONJ fbem-503 7 35 based base VERB fbem-503 7 36 on on ADP fbem-503 7 37 the the DET fbem-503 7 38 ordered order VERB fbem-503 7 39 probit probit NOUN fbem-503 7 40 model model NOUN fbem-503 7 41 , , PUNCT fbem-503 7 42 takes take VERB fbem-503 7 43 the the DET fbem-503 7 44 continuous continuous ADJ fbem-503 7 45 investment investment NOUN fbem-503 7 46 behavior behavior NOUN fbem-503 7 47 of of ADP fbem-503 7 48 chinese chinese ADJ fbem-503 7 49 enterprises enterprise NOUN fbem-503 7 50 as as ADP fbem-503 7 51 the the DET fbem-503 7 52 research research NOUN fbem-503 7 53 object object NOUN fbem-503 7 54 , , PUNCT fbem-503 7 55 and and CCONJ fbem-503 7 56 conducts conduct VERB fbem-503 7 57 the the DET fbem-503 7 58 following follow VERB fbem-503 7 59 research research NOUN fbem-503 7 60 : : PUNCT fbem-503 7 61 the the DET fbem-503 7 62 empirical empirical ADJ fbem-503 7 63 study study NOUN fbem-503 7 64 on on ADP fbem-503 7 65 the the DET fbem-503 7 66 impact impact NOUN fbem-503 7 67 of of ADP fbem-503 7 68 market market NOUN fbem-503 7 69 distance distance NOUN fbem-503 7 70 , , PUNCT fbem-503 7 71 which which PRON fbem-503 7 72 is be AUX fbem-503 7 73 composed compose VERB fbem-503 7 74 of of ADP fbem-503 7 75 geographical geographical ADJ fbem-503 7 76 distance distance NOUN fbem-503 7 77 , , PUNCT fbem-503 7 78 cultural cultural ADJ fbem-503 7 79 distance distance NOUN fbem-503 7 80 and and CCONJ fbem-503 7 81 institutional institutional ADJ fbem-503 7 82 distance distance NOUN fbem-503 7 83 , , PUNCT fbem-503 7 84 on on ADP fbem-503 7 85 the the DET fbem-503 7 86 entry entry NOUN fbem-503 7 87 order order NOUN fbem-503 7 88 of of ADP fbem-503 7 89 chinese chinese ADJ fbem-503 7 90 enterprises enterprise NOUN fbem-503 7 91 in in ADP fbem-503 7 92 international international ADJ fbem-503 7 93 market market NOUN fbem-503 7 94 . . PUNCT fbem-503 8 1 the the DET fbem-503 8 2 empirical empirical ADJ fbem-503 8 3 results result NOUN fbem-503 8 4 show show VERB fbem-503 8 5 that that SCONJ fbem-503 8 6 : : PUNCT fbem-503 8 7 geographical geographical ADJ fbem-503 8 8 distance distance NOUN fbem-503 8 9 , , PUNCT fbem-503 8 10 cultural cultural ADJ fbem-503 8 11 distance distance NOUN fbem-503 8 12 and and CCONJ fbem-503 8 13 institutional institutional ADJ fbem-503 8 14 distance distance NOUN fbem-503 8 15 have have VERB fbem-503 8 16 a a DET fbem-503 8 17 significant significant ADJ fbem-503 8 18 effect effect NOUN fbem-503 8 19 on on ADP fbem-503 8 20 the the DET fbem-503 8 21 order order NOUN fbem-503 8 22 of of ADP fbem-503 8 23 market market NOUN fbem-503 8 24 entry entry NOUN fbem-503 8 25 . . PUNCT fbem-503 9 1 chinese chinese ADJ fbem-503 9 2 firms firm NOUN fbem-503 9 3 have have VERB fbem-503 9 4 the the DET fbem-503 9 5 priority priority NOUN fbem-503 9 6 to to PART fbem-503 9 7 enter enter VERB fbem-503 9 8 the the DET fbem-503 9 9 markets market NOUN fbem-503 9 10 with with ADP fbem-503 9 11 small small ADJ fbem-503 9 12 geographical geographical ADJ fbem-503 9 13 distance distance NOUN fbem-503 9 14 and and CCONJ fbem-503 9 15 cultural cultural ADJ fbem-503 9 16 distance distance NOUN fbem-503 9 17 , , PUNCT fbem-503 9 18 but but CCONJ fbem-503 9 19 the the DET fbem-503 9 20 markets market NOUN fbem-503 9 21 with with ADP fbem-503 9 22 large large ADJ fbem-503 9 23 institutional institutional ADJ fbem-503 9 24 distance distance NOUN fbem-503 9 25 . . PUNCT fbem-503 10 1 keywords keyword NOUN fbem-503 10 2 : : PUNCT fbem-503 10 3 market market NOUN fbem-503 10 4 distance distance NOUN fbem-503 10 5 , , PUNCT fbem-503 10 6 international international ADJ fbem-503 10 7 experience experience NOUN fbem-503 10 8 , , PUNCT fbem-503 10 9 order order NOUN fbem-503 10 10 selection selection NOUN fbem-503 10 11 , , PUNCT fbem-503 10 12 foreign foreign ADJ fbem-503 10 13 direct direct ADJ fbem-503 10 14 investment investment NOUN fbem-503 10 15 . . PUNCT fbem-503 11 1 1 1 X fbem-503 11 2 . . X fbem-503 11 3 introduction introduction NOUN fbem-503 11 4 since since SCONJ fbem-503 11 5 the the DET fbem-503 11 6 1980s 1980 NOUN fbem-503 11 7 , , PUNCT fbem-503 11 8 actively actively ADV fbem-503 11 9 carrying carry VERB fbem-503 11 10 out out ADP fbem-503 11 11 foreign foreign ADJ fbem-503 11 12 exchanges exchange NOUN fbem-503 11 13 and and CCONJ fbem-503 11 14 cooperation cooperation NOUN fbem-503 11 15 has have AUX fbem-503 11 16 been be AUX fbem-503 11 17 the the DET fbem-503 11 18 main main ADJ fbem-503 11 19 melody melody NOUN fbem-503 11 20 of of ADP fbem-503 11 21 china china PROPN fbem-503 11 22 's 's PART fbem-503 11 23 policy policy NOUN fbem-503 11 24 , , PUNCT fbem-503 11 25 and and CCONJ fbem-503 11 26 the the DET fbem-503 11 27 level level NOUN fbem-503 11 28 of of ADP fbem-503 11 29 china china PROPN fbem-503 11 30 's 's PART fbem-503 11 31 opening opening NOUN fbem-503 11 32 to to ADP fbem-503 11 33 the the DET fbem-503 11 34 outside outside ADJ fbem-503 11 35 world world NOUN fbem-503 11 36 has have AUX fbem-503 11 37 improved improve VERB fbem-503 11 38 year year NOUN fbem-503 11 39 by by ADP fbem-503 11 40 year year NOUN fbem-503 11 41 . . PUNCT fbem-503 12 1 in in ADP fbem-503 12 2 this this DET fbem-503 12 3 process process NOUN fbem-503 12 4 , , PUNCT fbem-503 12 5 the the DET fbem-503 12 6 " " PUNCT fbem-503 12 7 going go VERB fbem-503 12 8 global global ADJ fbem-503 12 9 " " PUNCT fbem-503 12 10 strategy strategy NOUN fbem-503 12 11 continues continue VERB fbem-503 12 12 to to PART fbem-503 12 13 evolve evolve VERB fbem-503 12 14 and and CCONJ fbem-503 12 15 foreign foreign ADJ fbem-503 12 16 direct direct ADJ fbem-503 12 17 investment investment NOUN fbem-503 12 18 has have AUX fbem-503 12 19 achieved achieve VERB fbem-503 12 20 proud proud ADJ fbem-503 12 21 results result NOUN fbem-503 12 22 . . PUNCT fbem-503 13 1 in in ADP fbem-503 13 2 2019 2019 NUM fbem-503 13 3 , , PUNCT fbem-503 13 4 outbound outbound ADJ fbem-503 13 5 direct direct ADJ fbem-503 13 6 investment investment NOUN fbem-503 13 7 flows flow NOUN fbem-503 13 8 reached reach VERB fbem-503 13 9 us we PRON fbem-503 13 10 $ $ SYM fbem-503 13 11 136.91 136.91 NUM fbem-503 13 12 billion billion NUM fbem-503 13 13 , , PUNCT fbem-503 13 14 ranking rank VERB fbem-503 13 15 second second ADJ fbem-503 13 16 only only ADV fbem-503 13 17 to to ADP fbem-503 13 18 japan japan PROPN fbem-503 13 19 , , PUNCT fbem-503 13 20 and and CCONJ fbem-503 13 21 the the DET fbem-503 13 22 stock stock NOUN fbem-503 13 23 of of ADP fbem-503 13 24 outbound outbound ADJ fbem-503 13 25 direct direct ADJ fbem-503 13 26 investment investment NOUN fbem-503 13 27 reached reach VERB fbem-503 13 28 us we PRON fbem-503 13 29 $ $ SYM fbem-503 13 30 2.2 2.2 NUM fbem-503 13 31 trillion trillion NUM fbem-503 13 32 , , PUNCT fbem-503 13 33 ranking rank VERB fbem-503 13 34 third third ADV fbem-503 13 35 only only ADV fbem-503 13 36 to to ADP fbem-503 13 37 the the DET fbem-503 13 38 united united PROPN fbem-503 13 39 states states PROPN fbem-503 13 40 and and CCONJ fbem-503 13 41 the the DET fbem-503 13 42 netherlands netherlands PROPN fbem-503 13 43 . . PUNCT fbem-503 14 1 the the DET fbem-503 14 2 global global ADJ fbem-503 14 3 influence influence NOUN fbem-503 14 4 of of ADP fbem-503 14 5 china china PROPN fbem-503 14 6 's 's PART fbem-503 14 7 ofdi ofdi NOUN fbem-503 14 8 is be AUX fbem-503 14 9 increasing increase VERB fbem-503 14 10 day day NOUN fbem-503 14 11 by by ADP fbem-503 14 12 day day NOUN fbem-503 14 13 . . PUNCT fbem-503 15 1 ofdi ofdi NOUN fbem-503 15 2 flows flow NOUN fbem-503 15 3 accounted account VERB fbem-503 15 4 for for ADP fbem-503 15 5 more more ADJ fbem-503 15 6 than than ADP fbem-503 15 7 40 40 NUM fbem-503 15 8 % % NOUN fbem-503 15 9 of of ADP fbem-503 15 10 the the DET fbem-503 15 11 global global ADJ fbem-503 15 12 total total NOUN fbem-503 15 13 from from ADP fbem-503 15 14 2016 2016 NUM fbem-503 15 15 to to ADP fbem-503 15 16 2019 2019 NUM fbem-503 15 17 . . PUNCT fbem-503 16 1 chinese chinese ADJ fbem-503 16 2 enterprises enterprise NOUN fbem-503 16 3 have have AUX fbem-503 16 4 invested invest VERB fbem-503 16 5 in in ADP fbem-503 16 6 188 188 NUM fbem-503 16 7 countries country NOUN fbem-503 16 8 and and CCONJ fbem-503 16 9 regions region NOUN fbem-503 16 10 around around ADP fbem-503 16 11 the the DET fbem-503 16 12 world world NOUN fbem-503 16 13 . . PUNCT fbem-503 17 1 in in ADP fbem-503 17 2 this this DET fbem-503 17 3 process process NOUN fbem-503 17 4 , , PUNCT fbem-503 17 5 according accord VERB fbem-503 17 6 to to ADP fbem-503 17 7 the the DET fbem-503 17 8 statistics statistic NOUN fbem-503 17 9 of of ADP fbem-503 17 10 the the DET fbem-503 17 11 ministry ministry PROPN fbem-503 17 12 of of ADP fbem-503 17 13 commerce commerce PROPN fbem-503 17 14 , , PUNCT fbem-503 17 15 by by ADP fbem-503 17 16 the the DET fbem-503 17 17 end end NOUN fbem-503 17 18 of of ADP fbem-503 17 19 2015 2015 NUM fbem-503 17 20 , , PUNCT fbem-503 17 21 the the DET fbem-503 17 22 directory directory NOUN fbem-503 17 23 of of ADP fbem-503 17 24 overseas overseas ADJ fbem-503 17 25 investment investment NOUN fbem-503 17 26 enterprises enterprise NOUN fbem-503 17 27 ( ( PUNCT fbem-503 17 28 institutions institution NOUN fbem-503 17 29 ) ) PUNCT fbem-503 17 30 recorded record VERB fbem-503 17 31 37,114 37,114 NUM fbem-503 17 32 overseas overseas ADJ fbem-503 17 33 direct direct ADJ fbem-503 17 34 investment investment NOUN fbem-503 17 35 activities activity NOUN fbem-503 17 36 , , PUNCT fbem-503 17 37 involving involve VERB fbem-503 17 38 26,444 26,444 NUM fbem-503 17 39 enterprises enterprise NOUN fbem-503 17 40 , , PUNCT fbem-503 17 41 covering cover VERB fbem-503 17 42 202 202 NUM fbem-503 17 43 countries country NOUN fbem-503 17 44 and and CCONJ fbem-503 17 45 regions region NOUN fbem-503 17 46 around around ADP fbem-503 17 47 the the DET fbem-503 17 48 world world NOUN fbem-503 17 49 . . PUNCT fbem-503 18 1 it it PRON fbem-503 18 2 is be AUX fbem-503 18 3 worth worth ADJ fbem-503 18 4 noting note VERB fbem-503 18 5 that that SCONJ fbem-503 18 6 3,602 3,602 NUM fbem-503 18 7 companies company NOUN fbem-503 18 8 have have AUX fbem-503 18 9 made make VERB fbem-503 18 10 more more ADJ fbem-503 18 11 than than ADP fbem-503 18 12 two two NUM fbem-503 18 13 consecutive consecutive ADJ fbem-503 18 14 investments investment NOUN fbem-503 18 15 in in ADP fbem-503 18 16 154 154 NUM fbem-503 18 17 countries country NOUN fbem-503 18 18 ( ( PUNCT fbem-503 18 19 regions region NOUN fbem-503 18 20 ) ) PUNCT fbem-503 18 21 , , PUNCT fbem-503 18 22 and and CCONJ fbem-503 18 23 the the DET fbem-503 18 24 total total ADJ fbem-503 18 25 number number NOUN fbem-503 18 26 of of ADP fbem-503 18 27 consecutive consecutive ADJ fbem-503 18 28 investments investment NOUN fbem-503 18 29 reached reach VERB fbem-503 18 30 12,094 12,094 NUM fbem-503 18 31 , , PUNCT fbem-503 18 32 accounting account VERB fbem-503 18 33 for for ADP fbem-503 18 34 32.6 32.6 NUM fbem-503 18 35 % % NOUN fbem-503 18 36 of of ADP fbem-503 18 37 all all DET fbem-503 18 38 overseas overseas ADJ fbem-503 18 39 investments investment NOUN fbem-503 18 40 . . PUNCT fbem-503 19 1 among among ADP fbem-503 19 2 the the DET fbem-503 19 3 enterprises enterprise NOUN fbem-503 19 4 with with ADP fbem-503 19 5 continuous continuous ADJ fbem-503 19 6 investment investment NOUN fbem-503 19 7 behavior behavior NOUN fbem-503 19 8 , , PUNCT fbem-503 19 9 the the DET fbem-503 19 10 average average ADJ fbem-503 19 11 investment investment NOUN fbem-503 19 12 of of ADP fbem-503 19 13 one one NUM fbem-503 19 14 enterprise enterprise NOUN fbem-503 19 15 is be AUX fbem-503 19 16 3.36 3.36 NUM fbem-503 19 17 times time NOUN fbem-503 19 18 , , PUNCT fbem-503 19 19 and and CCONJ fbem-503 19 20 sinohydro sinohydro PROPN fbem-503 19 21 international international PROPN fbem-503 19 22 engineering engineering PROPN fbem-503 19 23 co. co. PROPN fbem-503 19 24 , , PUNCT fbem-503 19 25 ltd ltd PROPN fbem-503 19 26 . . PROPN fbem-503 19 27 has have VERB fbem-503 19 28 the the DET fbem-503 19 29 most most ADJ fbem-503 19 30 expansion expansion NOUN fbem-503 19 31 times time NOUN fbem-503 19 32 , , PUNCT fbem-503 19 33 up up ADP fbem-503 19 34 to to ADP fbem-503 19 35 107 107 NUM fbem-503 19 36 times time NOUN fbem-503 19 37 . . PUNCT fbem-503 20 1 among among ADP fbem-503 20 2 private private ADJ fbem-503 20 3 companies company NOUN fbem-503 20 4 , , PUNCT fbem-503 20 5 zte zte PROPN fbem-503 20 6 corporation corporation NOUN fbem-503 20 7 has have AUX fbem-503 20 8 expanded expand VERB fbem-503 20 9 83 83 NUM fbem-503 20 10 times time NOUN fbem-503 20 11 . . PUNCT fbem-503 21 1 continuous continuous ADJ fbem-503 21 2 investment investment NOUN fbem-503 21 3 plays play VERB fbem-503 21 4 an an DET fbem-503 21 5 important important ADJ fbem-503 21 6 role role NOUN fbem-503 21 7 in in ADP fbem-503 21 8 the the DET fbem-503 21 9 overseas overseas ADJ fbem-503 21 10 practice practice NOUN fbem-503 21 11 of of ADP fbem-503 21 12 chinese chinese ADJ fbem-503 21 13 enterprises enterprise NOUN fbem-503 21 14 . . PUNCT fbem-503 22 1 as as SCONJ fbem-503 22 2 chinese chinese ADJ fbem-503 22 3 enterprises enterprise NOUN fbem-503 22 4 move move VERB fbem-503 22 5 towards towards ADP fbem-503 22 6 a a DET fbem-503 22 7 broader broad ADJ fbem-503 22 8 international international ADJ fbem-503 22 9 market market NOUN fbem-503 22 10 , , PUNCT fbem-503 22 11 they they PRON fbem-503 22 12 will will AUX fbem-503 22 13 also also ADV fbem-503 22 14 face face VERB fbem-503 22 15 a a DET fbem-503 22 16 more more ADV fbem-503 22 17 complex complex ADJ fbem-503 22 18 and and CCONJ fbem-503 22 19 ever ever ADV fbem-503 22 20 - - PUNCT fbem-503 22 21 changing change VERB fbem-503 22 22 international international ADJ fbem-503 22 23 market market NOUN fbem-503 22 24 environment environment NOUN fbem-503 22 25 . . PUNCT fbem-503 23 1 external external ADJ fbem-503 23 2 environment environment NOUN fbem-503 23 3 factors factor NOUN fbem-503 23 4 , , PUNCT fbem-503 23 5 especially especially ADV fbem-503 23 6 legal legal ADJ fbem-503 23 7 , , PUNCT fbem-503 23 8 cultural cultural ADJ fbem-503 23 9 , , PUNCT fbem-503 23 10 institutional institutional ADJ fbem-503 23 11 and and CCONJ fbem-503 23 12 other other ADJ fbem-503 23 13 factors factor NOUN fbem-503 23 14 , , PUNCT fbem-503 23 15 have have VERB fbem-503 23 16 a a DET fbem-503 23 17 huge huge ADJ fbem-503 23 18 restriction restriction NOUN fbem-503 23 19 on on ADP fbem-503 23 20 the the DET fbem-503 23 21 international international ADJ fbem-503 23 22 expansion expansion NOUN fbem-503 23 23 of of ADP fbem-503 23 24 chinese chinese ADJ fbem-503 23 25 enterprises enterprise NOUN fbem-503 23 26 . . PUNCT fbem-503 24 1 under under ADP fbem-503 24 2 the the DET fbem-503 24 3 premise premise NOUN fbem-503 24 4 of of ADP fbem-503 24 5 lack lack NOUN fbem-503 24 6 of of ADP fbem-503 24 7 experience experience NOUN fbem-503 24 8 , , PUNCT fbem-503 24 9 every every DET fbem-503 24 10 decision decision NOUN fbem-503 24 11 of of ADP fbem-503 24 12 chinese chinese ADJ fbem-503 24 13 enterprises enterprise NOUN fbem-503 24 14 will will AUX fbem-503 24 15 face face VERB fbem-503 24 16 huge huge ADJ fbem-503 24 17 risks risk NOUN fbem-503 24 18 . . PUNCT fbem-503 25 1 especially especially ADV fbem-503 25 2 for for ADP fbem-503 25 3 enterprises enterprise NOUN fbem-503 25 4 with with ADP fbem-503 25 5 continuous continuous ADJ fbem-503 25 6 investment investment NOUN fbem-503 25 7 plans plan NOUN fbem-503 25 8 , , PUNCT fbem-503 25 9 how how SCONJ fbem-503 25 10 to to PART fbem-503 25 11 choose choose VERB fbem-503 25 12 the the DET fbem-503 25 13 expansion expansion NOUN fbem-503 25 14 path path NOUN fbem-503 25 15 , , PUNCT fbem-503 25 16 that that ADV fbem-503 25 17 is is ADV fbem-503 25 18 , , PUNCT fbem-503 25 19 how how SCONJ fbem-503 25 20 to to PART fbem-503 25 21 choose choose VERB fbem-503 25 22 the the DET fbem-503 25 23 priority priority NOUN fbem-503 25 24 of of ADP fbem-503 25 25 overseas overseas ADJ fbem-503 25 26 investment investment NOUN fbem-503 25 27 when when SCONJ fbem-503 25 28 carrying carry VERB fbem-503 25 29 out out ADP fbem-503 25 30 continuous continuous ADJ fbem-503 25 31 overseas overseas ADJ fbem-503 25 32 expansion expansion NOUN fbem-503 25 33 ? ? PUNCT fbem-503 26 1 this this PRON fbem-503 26 2 is be AUX fbem-503 26 3 a a DET fbem-503 26 4 question question NOUN fbem-503 26 5 of of ADP fbem-503 26 6 the the DET fbem-503 26 7 utmost utmost ADJ fbem-503 26 8 importance importance NOUN fbem-503 26 9 . . PUNCT fbem-503 27 1 today today NOUN fbem-503 27 2 , , PUNCT fbem-503 27 3 china china PROPN fbem-503 27 4 has have AUX fbem-503 27 5 become become VERB fbem-503 27 6 one one NUM fbem-503 27 7 of of ADP fbem-503 27 8 the the DET fbem-503 27 9 most most ADV fbem-503 27 10 active active ADJ fbem-503 27 11 and and CCONJ fbem-503 27 12 influential influential ADJ fbem-503 27 13 of of ADP fbem-503 27 14 di di NOUN fbem-503 27 15 players player NOUN fbem-503 27 16 in in ADP fbem-503 27 17 the the DET fbem-503 27 18 world world NOUN fbem-503 27 19 , , PUNCT fbem-503 27 20 and and CCONJ fbem-503 27 21 chinese chinese ADJ fbem-503 27 22 companies company NOUN fbem-503 27 23 have have AUX fbem-503 27 24 accumulated accumulate VERB fbem-503 27 25 rich rich ADJ fbem-503 27 26 and and CCONJ fbem-503 27 27 valuable valuable ADJ fbem-503 27 28 experience experience NOUN fbem-503 27 29 over over ADP fbem-503 27 30 the the DET fbem-503 27 31 past past ADJ fbem-503 27 32 decades decade NOUN fbem-503 27 33 . . PUNCT fbem-503 28 1 from from ADP fbem-503 28 2 the the DET fbem-503 28 3 overseas overseas ADJ fbem-503 28 4 practice practice NOUN fbem-503 28 5 of of ADP fbem-503 28 6 chinese chinese ADJ fbem-503 28 7 enterprises enterprise NOUN fbem-503 28 8 from from ADP fbem-503 28 9 1983 1983 NUM fbem-503 28 10 to to ADP fbem-503 28 11 2015 2015 NUM fbem-503 28 12 , , PUNCT fbem-503 28 13 this this DET fbem-503 28 14 paper paper NOUN fbem-503 28 15 attempts attempt VERB fbem-503 28 16 to to PART fbem-503 28 17 study study VERB fbem-503 28 18 the the DET fbem-503 28 19 order order NOUN fbem-503 28 20 of of ADP fbem-503 28 21 market market NOUN fbem-503 28 22 entry entry NOUN fbem-503 28 23 in in ADP fbem-503 28 24 the the DET fbem-503 28 25 continuous continuous ADJ fbem-503 28 26 and and CCONJ fbem-503 28 27 repeated repeat VERB fbem-503 28 28 overseas overseas ADJ fbem-503 28 29 expansion expansion NOUN fbem-503 28 30 of of ADP fbem-503 28 31 chinese chinese ADJ fbem-503 28 32 enterprises enterprise NOUN fbem-503 28 33 , , PUNCT fbem-503 28 34 explore explore VERB fbem-503 28 35 and and CCONJ fbem-503 28 36 summarize summarize VERB fbem-503 28 37 the the DET fbem-503 28 38 valuable valuable ADJ fbem-503 28 39 experience experience NOUN fbem-503 28 40 of of ADP fbem-503 28 41 chinese chinese ADJ fbem-503 28 42 enterprises enterprise NOUN fbem-503 28 43 ' ' PART fbem-503 28 44 overseas overseas ADJ fbem-503 28 45 expansion expansion NOUN fbem-503 28 46 , , PUNCT fbem-503 28 47 and and CCONJ fbem-503 28 48 provide provide VERB fbem-503 28 49 some some DET fbem-503 28 50 reference reference NOUN fbem-503 28 51 for for ADP fbem-503 28 52 chinese chinese ADJ fbem-503 28 53 enterprises enterprise NOUN fbem-503 28 54 ' ' PART fbem-503 28 55 ofdi ofdi NOUN fbem-503 28 56 . . PUNCT fbem-503 29 1 2 2 X fbem-503 29 2 . . X fbem-503 29 3 theoretical theoretical ADJ fbem-503 29 4 analysis analysis NOUN fbem-503 29 5 and and CCONJ fbem-503 29 6 research research NOUN fbem-503 29 7 assumptions assumption NOUN fbem-503 29 8 2.1 2.1 NUM fbem-503 29 9 . . PUNCT fbem-503 30 1 market market NOUN fbem-503 30 2 size size NOUN fbem-503 30 3 and and CCONJ fbem-503 30 4 market market NOUN fbem-503 30 5 entry entry NOUN fbem-503 30 6 order order NOUN fbem-503 30 7 market market NOUN fbem-503 30 8 seeking seek VERB fbem-503 30 9 is be AUX fbem-503 30 10 one one NUM fbem-503 30 11 of of ADP fbem-503 30 12 the the DET fbem-503 30 13 most most ADV fbem-503 30 14 fundamental fundamental ADJ fbem-503 30 15 and and CCONJ fbem-503 30 16 universal universal ADJ fbem-503 30 17 motives motive NOUN fbem-503 30 18 for for SCONJ fbem-503 30 19 enterprises enterprise NOUN fbem-503 30 20 to to PART fbem-503 30 21 enter enter VERB fbem-503 30 22 the the DET fbem-503 30 23 international international ADJ fbem-503 30 24 market market NOUN fbem-503 30 25 . . PUNCT fbem-503 31 1 therefore therefore ADV fbem-503 31 2 , , PUNCT fbem-503 31 3 enterprises enterprise NOUN fbem-503 31 4 prefer prefer VERB fbem-503 31 5 large large ADJ fbem-503 31 6 - - PUNCT fbem-503 31 7 scale scale NOUN fbem-503 31 8 markets market NOUN fbem-503 31 9 , , PUNCT fbem-503 31 10 because because SCONJ fbem-503 31 11 large large ADJ fbem-503 31 12 - - PUNCT fbem-503 31 13 scale scale NOUN fbem-503 31 14 markets market NOUN fbem-503 31 15 have have VERB fbem-503 31 16 greater great ADJ fbem-503 31 17 opportunities opportunity NOUN fbem-503 31 18 for for ADP fbem-503 31 19 greater great ADJ fbem-503 31 20 returns return NOUN fbem-503 31 21 than than ADP fbem-503 31 22 small small ADJ fbem-503 31 23 - - PUNCT fbem-503 31 24 scale scale NOUN fbem-503 31 25 markets market NOUN fbem-503 31 26 . . PUNCT fbem-503 32 1 market market NOUN fbem-503 32 2 opportunity opportunity NOUN fbem-503 32 3 is be AUX fbem-503 32 4 usually usually ADV fbem-503 32 5 defined define VERB fbem-503 32 6 as as ADP fbem-503 32 7 profit profit NOUN fbem-503 32 8 opportunity opportunity NOUN fbem-503 32 9 , , PUNCT fbem-503 32 10 and and CCONJ fbem-503 32 11 market market NOUN fbem-503 32 12 size size NOUN fbem-503 32 13 is be AUX fbem-503 32 14 generally generally ADV fbem-503 32 15 considered consider VERB fbem-503 32 16 to to PART fbem-503 32 17 be be AUX fbem-503 32 18 the the DET fbem-503 32 19 main main ADJ fbem-503 32 20 driver driver NOUN fbem-503 32 21 of of ADP fbem-503 32 22 enterprise enterprise NOUN fbem-503 32 23 internationalization internationalization NOUN fbem-503 32 24 ( ( PUNCT fbem-503 32 25 mitra mitra NOUN fbem-503 32 26 and and CCONJ fbem-503 32 27 golder golder NOUN fbem-503 32 28 , , PUNCT fbem-503 32 29 2002 2002 NUM fbem-503 32 30 ) ) PUNCT fbem-503 32 31 . . PUNCT fbem-503 33 1 market market NOUN fbem-503 33 2 opportunities opportunity NOUN fbem-503 33 3 are be AUX fbem-503 33 4 the the DET fbem-503 33 5 key key ADJ fbem-503 33 6 drivers driver NOUN fbem-503 33 7 of of ADP fbem-503 33 8 the the DET fbem-503 33 9 internationalization internationalization NOUN fbem-503 33 10 of of ADP fbem-503 33 11 59 59 NUM fbem-503 33 12 enterprises enterprise NOUN fbem-503 33 13 , , PUNCT fbem-503 33 14 the the DET fbem-503 33 15 basic basic ADJ fbem-503 33 16 goal goal NOUN fbem-503 33 17 of of ADP fbem-503 33 18 transnational transnational ADJ fbem-503 33 19 investment investment NOUN fbem-503 33 20 activities activity NOUN fbem-503 33 21 , , PUNCT fbem-503 33 22 gain gain VERB fbem-503 33 23 profit profit NOUN fbem-503 33 24 opportunity opportunity NOUN fbem-503 33 25 , , PUNCT fbem-503 33 26 when when SCONJ fbem-503 33 27 the the DET fbem-503 33 28 market market NOUN fbem-503 33 29 scale scale NOUN fbem-503 33 30 is be AUX fbem-503 33 31 large large ADJ fbem-503 33 32 enough enough ADV fbem-503 33 33 , , PUNCT fbem-503 33 34 profit profit NOUN fbem-503 33 35 opportunities opportunity NOUN fbem-503 33 36 will will AUX fbem-503 33 37 be be AUX fbem-503 33 38 enough enough ADJ fbem-503 33 39 , , PUNCT fbem-503 33 40 though though SCONJ fbem-503 33 41 the the DET fbem-503 33 42 size size NOUN fbem-503 33 43 of of ADP fbem-503 33 44 the the DET fbem-503 33 45 market market NOUN fbem-503 33 46 , , PUNCT fbem-503 33 47 the the PRON fbem-503 33 48 greater great ADJ fbem-503 33 49 the the DET fbem-503 33 50 companies company NOUN fbem-503 33 51 face face VERB fbem-503 33 52 the the DET fbem-503 33 53 risk risk NOUN fbem-503 33 54 and and CCONJ fbem-503 33 55 cost cost NOUN fbem-503 33 56 of of ADP fbem-503 33 57 also also ADV fbem-503 33 58 increases increase NOUN fbem-503 33 59 , , PUNCT fbem-503 33 60 but but CCONJ fbem-503 33 61 companies company NOUN fbem-503 33 62 willing willing ADJ fbem-503 33 63 to to PART fbem-503 33 64 receive receive VERB fbem-503 33 65 a a DET fbem-503 33 66 larger large ADJ fbem-503 33 67 market market NOUN fbem-503 33 68 risks risk NOUN fbem-503 33 69 and and CCONJ fbem-503 33 70 costs cost NOUN fbem-503 33 71 . . PUNCT fbem-503 34 1 in in ADP fbem-503 34 2 the the DET fbem-503 34 3 classical classical ADJ fbem-503 34 4 trade trade NOUN fbem-503 34 5 gravity gravity NOUN fbem-503 34 6 model model NOUN fbem-503 34 7 , , PUNCT fbem-503 34 8 market market NOUN fbem-503 34 9 size size NOUN fbem-503 34 10 is be AUX fbem-503 34 11 described describe VERB fbem-503 34 12 as as ADP fbem-503 34 13 the the DET fbem-503 34 14 most most ADV fbem-503 34 15 attractive attractive ADJ fbem-503 34 16 factor factor NOUN fbem-503 34 17 for for ADP fbem-503 34 18 bilateral bilateral ADJ fbem-503 34 19 trade trade NOUN fbem-503 34 20 , , PUNCT fbem-503 34 21 and and CCONJ fbem-503 34 22 a a DET fbem-503 34 23 large large ADJ fbem-503 34 24 number number NOUN fbem-503 34 25 of of ADP fbem-503 34 26 empirical empirical ADJ fbem-503 34 27 results result NOUN fbem-503 34 28 support support VERB fbem-503 34 29 this this DET fbem-503 34 30 assertion assertion NOUN fbem-503 34 31 . . PUNCT fbem-503 35 1 based base VERB fbem-503 35 2 on on ADP fbem-503 35 3 the the DET fbem-503 35 4 above above ADJ fbem-503 35 5 analysis analysis NOUN fbem-503 35 6 , , PUNCT fbem-503 35 7 this this DET fbem-503 35 8 paper paper NOUN fbem-503 35 9 proposes propose VERB fbem-503 35 10 the the DET fbem-503 35 11 following follow VERB fbem-503 35 12 hypotheses hypothesis NOUN fbem-503 35 13 : : PUNCT fbem-503 35 14 h1 h1 NOUN fbem-503 35 15 : : PUNCT fbem-503 35 16 the the DET fbem-503 35 17 larger large ADJ fbem-503 35 18 the the DET fbem-503 35 19 market market NOUN fbem-503 35 20 size size NOUN fbem-503 35 21 is be AUX fbem-503 35 22 , , PUNCT fbem-503 35 23 the the PRON fbem-503 35 24 smaller small ADJ fbem-503 35 25 the the DET fbem-503 35 26 market market NOUN fbem-503 35 27 entry entry NOUN fbem-503 35 28 order order NOUN fbem-503 35 29 is be AUX fbem-503 35 30 , , PUNCT fbem-503 35 31 that that ADV fbem-503 35 32 is is ADV fbem-503 35 33 , , PUNCT fbem-503 35 34 there there PRON fbem-503 35 35 is be VERB fbem-503 35 36 a a DET fbem-503 35 37 negative negative ADJ fbem-503 35 38 relationship relationship NOUN fbem-503 35 39 between between ADP fbem-503 35 40 the the DET fbem-503 35 41 market market NOUN fbem-503 35 42 size size NOUN fbem-503 35 43 and and CCONJ fbem-503 35 44 the the DET fbem-503 35 45 entry entry NOUN fbem-503 35 46 order order NOUN fbem-503 35 47 . . PUNCT fbem-503 36 1 2.2 2.2 NUM fbem-503 36 2 . . PUNCT fbem-503 36 3 market market NOUN fbem-503 36 4 distance distance NOUN fbem-503 36 5 and and CCONJ fbem-503 36 6 market market NOUN fbem-503 36 7 entry entry NOUN fbem-503 36 8 order order NOUN fbem-503 36 9 ( ( PUNCT fbem-503 36 10 1 1 X fbem-503 36 11 ) ) PUNCT fbem-503 36 12 geographical geographical ADJ fbem-503 36 13 distance distance NOUN fbem-503 36 14 geographical geographical ADJ fbem-503 36 15 distance distance NOUN fbem-503 36 16 is be AUX fbem-503 36 17 still still ADV fbem-503 36 18 an an DET fbem-503 36 19 objective objective ADJ fbem-503 36 20 obstacle obstacle NOUN fbem-503 36 21 to to ADP fbem-503 36 22 transnational transnational ADJ fbem-503 36 23 investment investment NOUN fbem-503 36 24 . . PUNCT fbem-503 37 1 modern modern ADJ fbem-503 37 2 information information NOUN fbem-503 37 3 and and CCONJ fbem-503 37 4 communication communication NOUN fbem-503 37 5 technology technology NOUN fbem-503 37 6 , , PUNCT fbem-503 37 7 the the DET fbem-503 37 8 continuous continuous ADJ fbem-503 37 9 development development NOUN fbem-503 37 10 of of ADP fbem-503 37 11 modern modern ADJ fbem-503 37 12 means mean NOUN fbem-503 37 13 of of ADP fbem-503 37 14 transport transport NOUN fbem-503 37 15 , , PUNCT fbem-503 37 16 to to ADP fbem-503 37 17 a a DET fbem-503 37 18 certain certain ADJ fbem-503 37 19 extent extent NOUN fbem-503 37 20 slowed slow VERB fbem-503 37 21 the the DET fbem-503 37 22 space space NOUN fbem-503 37 23 geographic geographic ADJ fbem-503 37 24 distance distance NOUN fbem-503 37 25 to to ADP fbem-503 37 26 the the DET fbem-503 37 27 negative negative ADJ fbem-503 37 28 impact impact NOUN fbem-503 37 29 of of ADP fbem-503 37 30 transnational transnational ADJ fbem-503 37 31 business business NOUN fbem-503 37 32 , , PUNCT fbem-503 37 33 international international ADJ fbem-503 37 34 business business NOUN fbem-503 37 35 activities activity NOUN fbem-503 37 36 become become VERB fbem-503 37 37 more more ADV fbem-503 37 38 convenient convenient ADJ fbem-503 37 39 , , PUNCT fbem-503 37 40 but but CCONJ fbem-503 37 41 the the DET fbem-503 37 42 space space NOUN fbem-503 37 43 geographic geographic ADJ fbem-503 37 44 distance distance NOUN fbem-503 37 45 to to ADP fbem-503 37 46 transnational transnational ADJ fbem-503 37 47 operation operation NOUN fbem-503 37 48 time time NOUN fbem-503 37 49 , , PUNCT fbem-503 37 50 transportation transportation NOUN fbem-503 37 51 and and CCONJ fbem-503 37 52 communication communication NOUN fbem-503 37 53 costs cost NOUN fbem-503 37 54 , , PUNCT fbem-503 37 55 access access NOUN fbem-503 37 56 to to ADP fbem-503 37 57 information information NOUN fbem-503 37 58 , , PUNCT fbem-503 37 59 such such ADJ fbem-503 37 60 as as ADP fbem-503 37 61 cost cost NOUN fbem-503 37 62 does do AUX fbem-503 37 63 not not PART fbem-503 37 64 disappear disappear VERB fbem-503 37 65 . . PUNCT fbem-503 38 1 multinational multinational ADJ fbem-503 38 2 business business NOUN fbem-503 38 3 activities activity NOUN fbem-503 38 4 , , PUNCT fbem-503 38 5 some some DET fbem-503 38 6 very very ADV fbem-503 38 7 important important ADJ fbem-503 38 8 information information NOUN fbem-503 38 9 often often ADV fbem-503 38 10 need need VERB fbem-503 38 11 through through ADP fbem-503 38 12 face face NOUN fbem-503 38 13 - - PUNCT fbem-503 38 14 to to ADP fbem-503 38 15 - - PUNCT fbem-503 38 16 face face NOUN fbem-503 38 17 communication communication NOUN fbem-503 38 18 to to PART fbem-503 38 19 earn earn VERB fbem-503 38 20 , , PUNCT fbem-503 38 21 geographic geographic ADJ fbem-503 38 22 distance distance NOUN fbem-503 38 23 still still ADV fbem-503 38 24 hinder hinder VERB fbem-503 38 25 enterprises enterprise NOUN fbem-503 38 26 to to PART fbem-503 38 27 obtain obtain VERB fbem-503 38 28 these these DET fbem-503 38 29 important important ADJ fbem-503 38 30 information information NOUN fbem-503 38 31 , , PUNCT fbem-503 38 32 and and CCONJ fbem-503 38 33 geographic geographic ADJ fbem-503 38 34 distance distance NOUN fbem-503 38 35 will will AUX fbem-503 38 36 reduce reduce VERB fbem-503 38 37 the the DET fbem-503 38 38 possibility possibility NOUN fbem-503 38 39 of of ADP fbem-503 38 40 these these DET fbem-503 38 41 information information NOUN fbem-503 38 42 , , PUNCT fbem-503 38 43 so so CCONJ fbem-503 38 44 the the DET fbem-503 38 45 larger large ADJ fbem-503 38 46 geographic geographic ADJ fbem-503 38 47 distance distance NOUN fbem-503 38 48 still still ADV fbem-503 38 49 can can AUX fbem-503 38 50 bring bring VERB fbem-503 38 51 higher high ADJ fbem-503 38 52 cost cost NOUN fbem-503 38 53 of of ADP fbem-503 38 54 doing do VERB fbem-503 38 55 business business NOUN fbem-503 38 56 in in ADP fbem-503 38 57 international international ADJ fbem-503 38 58 business business NOUN fbem-503 38 59 activities activity NOUN fbem-503 38 60 and and CCONJ fbem-503 38 61 risks risk NOUN fbem-503 38 62 . . PUNCT fbem-503 39 1 due due ADP fbem-503 39 2 to to ADP fbem-503 39 3 objectively objectively ADV fbem-503 39 4 existing exist VERB fbem-503 39 5 costs cost NOUN fbem-503 39 6 and and CCONJ fbem-503 39 7 risks risk NOUN fbem-503 39 8 , , PUNCT fbem-503 39 9 geographical geographical ADJ fbem-503 39 10 distance distance NOUN fbem-503 39 11 not not PART fbem-503 39 12 only only ADV fbem-503 39 13 has have VERB fbem-503 39 14 a a DET fbem-503 39 15 decisive decisive ADJ fbem-503 39 16 impact impact NOUN fbem-503 39 17 on on ADP fbem-503 39 18 the the DET fbem-503 39 19 market market NOUN fbem-503 39 20 entry entry NOUN fbem-503 39 21 mode mode NOUN fbem-503 39 22 , , PUNCT fbem-503 39 23 but but CCONJ fbem-503 39 24 also also ADV fbem-503 39 25 has have VERB fbem-503 39 26 an an DET fbem-503 39 27 obstacle obstacle NOUN fbem-503 39 28 effect effect NOUN fbem-503 39 29 on on ADP fbem-503 39 30 the the DET fbem-503 39 31 order order NOUN fbem-503 39 32 of of ADP fbem-503 39 33 market market NOUN fbem-503 39 34 entry entry NOUN fbem-503 39 35 . . PUNCT fbem-503 40 1 based base VERB fbem-503 40 2 on on ADP fbem-503 40 3 the the DET fbem-503 40 4 above above ADJ fbem-503 40 5 analysis analysis NOUN fbem-503 40 6 , , PUNCT fbem-503 40 7 this this DET fbem-503 40 8 paper paper NOUN fbem-503 40 9 proposes propose VERB fbem-503 40 10 the the DET fbem-503 40 11 following follow VERB fbem-503 40 12 hypotheses hypothesis NOUN fbem-503 40 13 : : PUNCT fbem-503 40 14 h2 h2 NOUN fbem-503 40 15 : : PUNCT fbem-503 40 16 the the PRON fbem-503 40 17 greater great ADJ fbem-503 40 18 the the DET fbem-503 40 19 geographical geographical ADJ fbem-503 40 20 distance distance NOUN fbem-503 40 21 , , PUNCT fbem-503 40 22 the the PRON fbem-503 40 23 greater great ADJ fbem-503 40 24 the the DET fbem-503 40 25 market market NOUN fbem-503 40 26 entry entry NOUN fbem-503 40 27 order order NOUN fbem-503 40 28 , , PUNCT fbem-503 40 29 that that ADV fbem-503 40 30 is is ADV fbem-503 40 31 , , PUNCT fbem-503 40 32 there there PRON fbem-503 40 33 is be VERB fbem-503 40 34 a a DET fbem-503 40 35 positive positive ADJ fbem-503 40 36 relationship relationship NOUN fbem-503 40 37 between between ADP fbem-503 40 38 geographical geographical ADJ fbem-503 40 39 distance distance NOUN fbem-503 40 40 and and CCONJ fbem-503 40 41 entry entry NOUN fbem-503 40 42 order order NOUN fbem-503 40 43 . . PUNCT fbem-503 41 1 ( ( PUNCT fbem-503 41 2 2 2 X fbem-503 41 3 ) ) PUNCT fbem-503 41 4 cultural cultural ADJ fbem-503 41 5 distance distance NOUN fbem-503 41 6 cultural cultural ADJ fbem-503 41 7 distance distance NOUN fbem-503 41 8 has have VERB fbem-503 41 9 a a DET fbem-503 41 10 significant significant ADJ fbem-503 41 11 impact impact NOUN fbem-503 41 12 on on ADP fbem-503 41 13 the the DET fbem-503 41 14 investment investment NOUN fbem-503 41 15 activities activity NOUN fbem-503 41 16 of of ADP fbem-503 41 17 multinational multinational ADJ fbem-503 41 18 enterprises enterprise NOUN fbem-503 41 19 . . PUNCT fbem-503 42 1 from from ADP fbem-503 42 2 personnel personnel NOUN fbem-503 42 3 management management NOUN fbem-503 42 4 , , PUNCT fbem-503 42 5 production production NOUN fbem-503 42 6 and and CCONJ fbem-503 42 7 sales sale NOUN fbem-503 42 8 to to ADP fbem-503 42 9 brand brand NOUN fbem-503 42 10 building building NOUN fbem-503 42 11 , , PUNCT fbem-503 42 12 cultural cultural ADJ fbem-503 42 13 distance distance NOUN fbem-503 42 14 has have VERB fbem-503 42 15 a a DET fbem-503 42 16 profound profound ADJ fbem-503 42 17 impact impact NOUN fbem-503 42 18 ( ( PUNCT fbem-503 42 19 roth roth NOUN fbem-503 42 20 , , PUNCT fbem-503 42 21 1995 1995 NUM fbem-503 42 22 ) ) PUNCT fbem-503 42 23 . . PUNCT fbem-503 43 1 cultural cultural ADJ fbem-503 43 2 distance distance NOUN fbem-503 43 3 refers refer VERB fbem-503 43 4 to to ADP fbem-503 43 5 the the DET fbem-503 43 6 differences difference NOUN fbem-503 43 7 in in ADP fbem-503 43 8 religious religious ADJ fbem-503 43 9 belief belief NOUN fbem-503 43 10 , , PUNCT fbem-503 43 11 historical historical ADJ fbem-503 43 12 background background NOUN fbem-503 43 13 , , PUNCT fbem-503 43 14 language language NOUN fbem-503 43 15 environment environment NOUN fbem-503 43 16 and and CCONJ fbem-503 43 17 consumption consumption NOUN fbem-503 43 18 concept concept NOUN fbem-503 43 19 between between ADP fbem-503 43 20 citizens citizen NOUN fbem-503 43 21 of of ADP fbem-503 43 22 two two NUM fbem-503 43 23 countries country NOUN fbem-503 43 24 ( ( PUNCT fbem-503 43 25 ojala ojala NOUN fbem-503 43 26 , , PUNCT fbem-503 43 27 2015 2015 NUM fbem-503 43 28 ) ) PUNCT fbem-503 43 29 , , PUNCT fbem-503 43 30 to to ADP fbem-503 43 31 a a DET fbem-503 43 32 large large ADJ fbem-503 43 33 extent extent NOUN fbem-503 43 34 , , PUNCT fbem-503 43 35 determines determine VERB fbem-503 43 36 people people NOUN fbem-503 43 37 's 's PART fbem-503 43 38 decision decision NOUN fbem-503 43 39 - - PUNCT fbem-503 43 40 making make VERB fbem-503 43 41 behavior behavior NOUN fbem-503 43 42 patterns pattern NOUN fbem-503 43 43 and and CCONJ fbem-503 43 44 consumption consumption NOUN fbem-503 43 45 habits habit NOUN fbem-503 43 46 and and CCONJ fbem-503 43 47 preferences preference NOUN fbem-503 43 48 . . PUNCT fbem-503 44 1 in in ADP fbem-503 44 2 countries country NOUN fbem-503 44 3 and and CCONJ fbem-503 44 4 regions region NOUN fbem-503 44 5 with with ADP fbem-503 44 6 similar similar ADJ fbem-503 44 7 culture culture NOUN fbem-503 44 8 , , PUNCT fbem-503 44 9 religious religious ADJ fbem-503 44 10 belief belief NOUN fbem-503 44 11 and and CCONJ fbem-503 44 12 historical historical ADJ fbem-503 44 13 background background NOUN fbem-503 44 14 , , PUNCT fbem-503 44 15 enterprises enterprise NOUN fbem-503 44 16 can can AUX fbem-503 44 17 not not PART fbem-503 44 18 only only ADV fbem-503 44 19 gain gain VERB fbem-503 44 20 more more ADJ fbem-503 44 21 trust trust NOUN fbem-503 44 22 in in ADP fbem-503 44 23 the the DET fbem-503 44 24 initial initial ADJ fbem-503 44 25 stage stage NOUN fbem-503 44 26 of of ADP fbem-503 44 27 entry entry NOUN fbem-503 44 28 , , PUNCT fbem-503 44 29 but but CCONJ fbem-503 44 30 also also ADV fbem-503 44 31 have have VERB fbem-503 44 32 lower low ADJ fbem-503 44 33 communication communication NOUN fbem-503 44 34 costs cost NOUN fbem-503 44 35 and and CCONJ fbem-503 44 36 more more ADV fbem-503 44 37 accurate accurate ADJ fbem-503 44 38 information information NOUN fbem-503 44 39 reception reception NOUN fbem-503 44 40 , , PUNCT fbem-503 44 41 understanding understanding NOUN fbem-503 44 42 and and CCONJ fbem-503 44 43 digestion digestion NOUN fbem-503 44 44 , , PUNCT fbem-503 44 45 thus thus ADV fbem-503 44 46 rapidly rapidly ADV fbem-503 44 47 enhancing enhance VERB fbem-503 44 48 the the DET fbem-503 44 49 sustainable sustainable ADJ fbem-503 44 50 operation operation NOUN fbem-503 44 51 ability ability NOUN fbem-503 44 52 of of ADP fbem-503 44 53 enterprises enterprise NOUN fbem-503 44 54 in in ADP fbem-503 44 55 new new ADJ fbem-503 44 56 markets market NOUN fbem-503 44 57 . . PUNCT fbem-503 45 1 on on ADP fbem-503 45 2 the the DET fbem-503 45 3 contrary contrary NOUN fbem-503 45 4 , , PUNCT fbem-503 45 5 when when SCONJ fbem-503 45 6 there there PRON fbem-503 45 7 is be VERB fbem-503 45 8 a a DET fbem-503 45 9 large large ADJ fbem-503 45 10 cultural cultural ADJ fbem-503 45 11 difference difference NOUN fbem-503 45 12 between between ADP fbem-503 45 13 the the DET fbem-503 45 14 enterprise enterprise NOUN fbem-503 45 15 and and CCONJ fbem-503 45 16 the the DET fbem-503 45 17 host host NOUN fbem-503 45 18 country country NOUN fbem-503 45 19 , , PUNCT fbem-503 45 20 not not PART fbem-503 45 21 only only ADV fbem-503 45 22 the the DET fbem-503 45 23 communication communication NOUN fbem-503 45 24 cost cost NOUN fbem-503 45 25 and and CCONJ fbem-503 45 26 information information NOUN fbem-503 45 27 acquisition acquisition NOUN fbem-503 45 28 cost cost NOUN fbem-503 45 29 will will AUX fbem-503 45 30 be be AUX fbem-503 45 31 higher high ADJ fbem-503 45 32 , , PUNCT fbem-503 45 33 but but CCONJ fbem-503 45 34 also also ADV fbem-503 45 35 the the DET fbem-503 45 36 relatively relatively ADV fbem-503 45 37 mature mature ADJ fbem-503 45 38 management management NOUN fbem-503 45 39 experience experience NOUN fbem-503 45 40 , , PUNCT fbem-503 45 41 employee employee NOUN fbem-503 45 42 skills skill NOUN fbem-503 45 43 and and CCONJ fbem-503 45 44 production production NOUN fbem-503 45 45 process process NOUN fbem-503 45 46 of of ADP fbem-503 45 47 the the DET fbem-503 45 48 home home NOUN fbem-503 45 49 country country NOUN fbem-503 45 50 will will AUX fbem-503 45 51 be be AUX fbem-503 45 52 difficult difficult ADJ fbem-503 45 53 to to PART fbem-503 45 54 apply apply VERB fbem-503 45 55 to to ADP fbem-503 45 56 the the DET fbem-503 45 57 new new ADJ fbem-503 45 58 market market NOUN fbem-503 45 59 . . PUNCT fbem-503 46 1 therefore therefore ADV fbem-503 46 2 , , PUNCT fbem-503 46 3 it it PRON fbem-503 46 4 is be AUX fbem-503 46 5 necessary necessary ADJ fbem-503 46 6 to to PART fbem-503 46 7 pay pay VERB fbem-503 46 8 higher high ADJ fbem-503 46 9 costs cost NOUN fbem-503 46 10 for for ADP fbem-503 46 11 internal internal ADJ fbem-503 46 12 and and CCONJ fbem-503 46 13 external external ADJ fbem-503 46 14 adjustment adjustment NOUN fbem-503 46 15 . . PUNCT fbem-503 47 1 cultural cultural ADJ fbem-503 47 2 and and CCONJ fbem-503 47 3 psychological psychological ADJ fbem-503 47 4 distance distance NOUN fbem-503 47 5 has have VERB fbem-503 47 6 a a DET fbem-503 47 7 significant significant ADJ fbem-503 47 8 effect effect NOUN fbem-503 47 9 on on ADP fbem-503 47 10 the the DET fbem-503 47 11 hindrance hindrance NOUN fbem-503 47 12 of of ADP fbem-503 47 13 transnational transnational ADJ fbem-503 47 14 investment investment NOUN fbem-503 47 15 and and CCONJ fbem-503 47 16 transnational transnational ADJ fbem-503 47 17 business business NOUN fbem-503 47 18 activities activity NOUN fbem-503 47 19 ( ( PUNCT fbem-503 47 20 dow dow NOUN fbem-503 47 21 and and CCONJ fbem-503 47 22 ferencikova ferencikova PROPN fbem-503 47 23 , , PUNCT fbem-503 47 24 2010 2010 NUM fbem-503 47 25 ) ) PUNCT fbem-503 47 26 . . PUNCT fbem-503 48 1 based base VERB fbem-503 48 2 on on ADP fbem-503 48 3 the the DET fbem-503 48 4 above above ADJ fbem-503 48 5 analysis analysis NOUN fbem-503 48 6 , , PUNCT fbem-503 48 7 this this DET fbem-503 48 8 paper paper NOUN fbem-503 48 9 proposes propose VERB fbem-503 48 10 the the DET fbem-503 48 11 following follow VERB fbem-503 48 12 hypotheses hypothesis NOUN fbem-503 48 13 : : PUNCT fbem-503 48 14 h3 h3 VERB fbem-503 48 15 : : PUNCT fbem-503 48 16 the the PRON fbem-503 48 17 greater great ADJ fbem-503 48 18 the the DET fbem-503 48 19 cultural cultural ADJ fbem-503 48 20 distance distance NOUN fbem-503 48 21 , , PUNCT fbem-503 48 22 the the PRON fbem-503 48 23 greater great ADJ fbem-503 48 24 the the DET fbem-503 48 25 market market NOUN fbem-503 48 26 entry entry NOUN fbem-503 48 27 order order NOUN fbem-503 48 28 , , PUNCT fbem-503 48 29 that that ADV fbem-503 48 30 is is ADV fbem-503 48 31 , , PUNCT fbem-503 48 32 there there PRON fbem-503 48 33 is be VERB fbem-503 48 34 a a DET fbem-503 48 35 positive positive ADJ fbem-503 48 36 relationship relationship NOUN fbem-503 48 37 between between ADP fbem-503 48 38 the the DET fbem-503 48 39 cultural cultural ADJ fbem-503 48 40 distance distance NOUN fbem-503 48 41 and and CCONJ fbem-503 48 42 the the DET fbem-503 48 43 entry entry NOUN fbem-503 48 44 order order NOUN fbem-503 48 45 . . PUNCT fbem-503 49 1 ( ( PUNCT fbem-503 49 2 3 3 X fbem-503 49 3 ) ) PUNCT fbem-503 49 4 institutional institutional ADJ fbem-503 49 5 distance distance NOUN fbem-503 49 6 institutional institutional ADJ fbem-503 49 7 distance distance NOUN fbem-503 49 8 is be AUX fbem-503 49 9 considered consider VERB fbem-503 49 10 to to PART fbem-503 49 11 be be AUX fbem-503 49 12 one one NUM fbem-503 49 13 of of ADP fbem-503 49 14 the the DET fbem-503 49 15 main main ADJ fbem-503 49 16 obstacles obstacle NOUN fbem-503 49 17 to to ADP fbem-503 49 18 transnational transnational ADJ fbem-503 49 19 activities activity NOUN fbem-503 49 20 ( ( PUNCT fbem-503 49 21 maitland maitland PROPN fbem-503 49 22 et et PROPN fbem-503 49 23 al al PROPN fbem-503 49 24 . . PROPN fbem-503 49 25 , , PUNCT fbem-503 49 26 2011 2011 NUM fbem-503 49 27 ) ) PUNCT fbem-503 49 28 . . PUNCT fbem-503 50 1 the the PRON fbem-503 50 2 greater great ADJ fbem-503 50 3 the the DET fbem-503 50 4 institutional institutional ADJ fbem-503 50 5 distance distance NOUN fbem-503 50 6 between between ADP fbem-503 50 7 the the DET fbem-503 50 8 home home NOUN fbem-503 50 9 country country NOUN fbem-503 50 10 and and CCONJ fbem-503 50 11 the the DET fbem-503 50 12 host host NOUN fbem-503 50 13 country country NOUN fbem-503 50 14 , , PUNCT fbem-503 50 15 the the PRON fbem-503 50 16 higher high ADJ fbem-503 50 17 the the DET fbem-503 50 18 cost cost NOUN fbem-503 50 19 of of ADP fbem-503 50 20 obtaining obtain VERB fbem-503 50 21 legitimacy legitimacy NOUN fbem-503 50 22 and and CCONJ fbem-503 50 23 compliance compliance NOUN fbem-503 50 24 in in ADP fbem-503 50 25 the the DET fbem-503 50 26 host host NOUN fbem-503 50 27 country country NOUN fbem-503 50 28 . . PUNCT fbem-503 51 1 the the DET fbem-503 51 2 policy policy NOUN fbem-503 51 3 system system NOUN fbem-503 51 4 , , PUNCT fbem-503 51 5 legal legal ADJ fbem-503 51 6 system system NOUN fbem-503 51 7 and and CCONJ fbem-503 51 8 economic economic ADJ fbem-503 51 9 system system NOUN fbem-503 51 10 of of ADP fbem-503 51 11 the the DET fbem-503 51 12 host host NOUN fbem-503 51 13 country country NOUN fbem-503 51 14 have have VERB fbem-503 51 15 an an DET fbem-503 51 16 all all ADV fbem-503 51 17 - - PUNCT fbem-503 51 18 round round NOUN fbem-503 51 19 impact impact NOUN fbem-503 51 20 on on ADP fbem-503 51 21 ofdi ofdi PRON fbem-503 51 22 . . PUNCT fbem-503 52 1 it it PRON fbem-503 52 2 is be AUX fbem-503 52 3 important important ADJ fbem-503 52 4 to to PART fbem-503 52 5 study study VERB fbem-503 52 6 , , PUNCT fbem-503 52 7 understand understand VERB fbem-503 52 8 and and CCONJ fbem-503 52 9 be be AUX fbem-503 52 10 familiar familiar ADJ fbem-503 52 11 with with ADP fbem-503 52 12 local local ADJ fbem-503 52 13 laws law NOUN fbem-503 52 14 , , PUNCT fbem-503 52 15 regulations regulation NOUN fbem-503 52 16 and and CCONJ fbem-503 52 17 political political ADJ fbem-503 52 18 situations situation NOUN fbem-503 52 19 . . PUNCT fbem-503 53 1 if if SCONJ fbem-503 53 2 there there PRON fbem-503 53 3 are be VERB fbem-503 53 4 huge huge ADJ fbem-503 53 5 differences difference NOUN fbem-503 53 6 in in ADP fbem-503 53 7 the the DET fbem-503 53 8 soundness soundness NOUN fbem-503 53 9 of of ADP fbem-503 53 10 laws law NOUN fbem-503 53 11 and and CCONJ fbem-503 53 12 regulations regulation NOUN fbem-503 53 13 , , PUNCT fbem-503 53 14 law law NOUN fbem-503 53 15 enforcement enforcement NOUN fbem-503 53 16 and and CCONJ fbem-503 53 17 political political ADJ fbem-503 53 18 stability stability NOUN fbem-503 53 19 between between ADP fbem-503 53 20 the the DET fbem-503 53 21 two two NUM fbem-503 53 22 countries country NOUN fbem-503 53 23 , , PUNCT fbem-503 53 24 enterprises enterprise NOUN fbem-503 53 25 will will AUX fbem-503 53 26 need need VERB fbem-503 53 27 to to PART fbem-503 53 28 spend spend VERB fbem-503 53 29 more more ADJ fbem-503 53 30 time time NOUN fbem-503 53 31 , , PUNCT fbem-503 53 32 energy energy NOUN fbem-503 53 33 and and CCONJ fbem-503 53 34 cost cost NOUN fbem-503 53 35 to to PART fbem-503 53 36 adapt adapt VERB fbem-503 53 37 to to ADP fbem-503 53 38 the the DET fbem-503 53 39 local local ADJ fbem-503 53 40 institutional institutional ADJ fbem-503 53 41 environment environment NOUN fbem-503 53 42 , , PUNCT fbem-503 53 43 and and CCONJ fbem-503 53 44 investment investment NOUN fbem-503 53 45 risks risk NOUN fbem-503 53 46 and and CCONJ fbem-503 53 47 operating operating NOUN fbem-503 53 48 costs cost NOUN fbem-503 53 49 will will AUX fbem-503 53 50 be be AUX fbem-503 53 51 significantly significantly ADV fbem-503 53 52 increased increase VERB fbem-503 53 53 . . PUNCT fbem-503 54 1 in in ADP fbem-503 54 2 existing exist VERB fbem-503 54 3 studies study NOUN fbem-503 54 4 , , PUNCT fbem-503 54 5 abundant abundant ADJ fbem-503 54 6 results result NOUN fbem-503 54 7 have have AUX fbem-503 54 8 proved prove VERB fbem-503 54 9 the the DET fbem-503 54 10 adverse adverse ADJ fbem-503 54 11 impact impact NOUN fbem-503 54 12 of of ADP fbem-503 54 13 institutional institutional ADJ fbem-503 54 14 distance distance NOUN fbem-503 54 15 on on ADP fbem-503 54 16 ofdi ofdi NOUN fbem-503 54 17 ( ( PUNCT fbem-503 54 18 maitland maitland PROPN fbem-503 54 19 , , PUNCT fbem-503 54 20 2011 2011 NUM fbem-503 54 21 ) ) PUNCT fbem-503 54 22 . . PUNCT fbem-503 55 1 system system NOUN fbem-503 55 2 from from ADP fbem-503 55 3 the the DET fbem-503 55 4 costs cost NOUN fbem-503 55 5 and and CCONJ fbem-503 55 6 risks risk NOUN fbem-503 55 7 of of ADP fbem-503 55 8 that that DET fbem-503 55 9 system system NOUN fbem-503 55 10 of of ADP fbem-503 55 11 multinational multinational ADJ fbem-503 55 12 companies company NOUN fbem-503 55 13 have have VERB fbem-503 55 14 to to PART fbem-503 55 15 distance distance NOUN fbem-503 55 16 is be AUX fbem-503 55 17 more more ADV fbem-503 55 18 cautious cautious ADJ fbem-503 55 19 , , PUNCT fbem-503 55 20 enterprises enterprise NOUN fbem-503 55 21 in in ADP fbem-503 55 22 the the DET fbem-503 55 23 international international ADJ fbem-503 55 24 expansion expansion NOUN fbem-503 55 25 will will AUX fbem-503 55 26 prefer prefer VERB fbem-503 55 27 system system NOUN fbem-503 55 28 from from ADP fbem-503 55 29 a a DET fbem-503 55 30 small small ADJ fbem-503 55 31 market market NOUN fbem-503 55 32 , , PUNCT fbem-503 55 33 institutional institutional ADJ fbem-503 55 34 distance distance NOUN fbem-503 55 35 means mean VERB fbem-503 55 36 risk risk NOUN fbem-503 55 37 big big ADJ fbem-503 55 38 , , PUNCT fbem-503 55 39 the the DET fbem-503 55 40 probability probability NOUN fbem-503 55 41 of of ADP fbem-503 55 42 failure failure NOUN fbem-503 55 43 will will AUX fbem-503 55 44 also also ADV fbem-503 55 45 increase increase VERB fbem-503 55 46 , , PUNCT fbem-503 55 47 so so ADV fbem-503 55 48 start start VERB fbem-503 55 49 with with ADP fbem-503 55 50 similar similar ADJ fbem-503 55 51 market market NOUN fbem-503 55 52 access access NOUN fbem-503 55 53 system system NOUN fbem-503 55 54 environment environment NOUN fbem-503 55 55 , , PUNCT fbem-503 55 56 accumulate accumulate VERB fbem-503 55 57 more more ADJ fbem-503 55 58 experience experience NOUN fbem-503 55 59 , , PUNCT fbem-503 55 60 then then ADV fbem-503 55 61 expand expand VERB fbem-503 55 62 production production NOUN fbem-503 55 63 and and CCONJ fbem-503 55 64 business business NOUN fbem-503 55 65 activities activity NOUN fbem-503 55 66 to to ADP fbem-503 55 67 further further ADJ fbem-503 55 68 markets market NOUN fbem-503 55 69 . . PUNCT fbem-503 56 1 based base VERB fbem-503 56 2 on on ADP fbem-503 56 3 the the DET fbem-503 56 4 above above ADJ fbem-503 56 5 analysis analysis NOUN fbem-503 56 6 , , PUNCT fbem-503 56 7 this this DET fbem-503 56 8 paper paper NOUN fbem-503 56 9 proposes propose VERB fbem-503 56 10 the the DET fbem-503 56 11 following follow VERB fbem-503 56 12 hypotheses hypothesis NOUN fbem-503 56 13 : : PUNCT fbem-503 56 14 h4 h4 NOUN fbem-503 56 15 : : PUNCT fbem-503 56 16 the the DET fbem-503 56 17 larger large ADJ fbem-503 56 18 the the DET fbem-503 56 19 institutional institutional ADJ fbem-503 56 20 distance distance NOUN fbem-503 56 21 is be AUX fbem-503 56 22 , , PUNCT fbem-503 56 23 the the PRON fbem-503 56 24 larger large ADJ fbem-503 56 25 the the DET fbem-503 56 26 market market NOUN fbem-503 56 27 entry entry NOUN fbem-503 56 28 order order NOUN fbem-503 56 29 is be AUX fbem-503 56 30 , , PUNCT fbem-503 56 31 that that ADV fbem-503 56 32 is is ADV fbem-503 56 33 , , PUNCT fbem-503 56 34 there there PRON fbem-503 56 35 is be VERB fbem-503 56 36 a a DET fbem-503 56 37 positive positive ADJ fbem-503 56 38 influence influence NOUN fbem-503 56 39 relationship relationship NOUN fbem-503 56 40 between between ADP fbem-503 56 41 the the DET fbem-503 56 42 institutional institutional ADJ fbem-503 56 43 distance distance NOUN fbem-503 56 44 and and CCONJ fbem-503 56 45 the the DET fbem-503 56 46 entry entry NOUN fbem-503 56 47 order order NOUN fbem-503 56 48 . . PUNCT fbem-503 57 1 3 3 X fbem-503 57 2 . . X fbem-503 57 3 research research NOUN fbem-503 57 4 design design PROPN fbem-503 57 5 3.1 3.1 NUM fbem-503 57 6 . . PUNCT fbem-503 58 1 model model NOUN fbem-503 58 2 design design NOUN fbem-503 58 3 the the DET fbem-503 58 4 explained explain VERB fbem-503 58 5 variable variable NOUN fbem-503 58 6 in in ADP fbem-503 58 7 this this DET fbem-503 58 8 paper paper NOUN fbem-503 58 9 is be AUX fbem-503 58 10 the the DET fbem-503 58 11 order order NOUN fbem-503 58 12 of of ADP fbem-503 58 13 market market NOUN fbem-503 58 14 entry entry NOUN fbem-503 58 15 when when SCONJ fbem-503 58 16 enterprises enterprise NOUN fbem-503 58 17 make make VERB fbem-503 58 18 ofdi ofdi PRON fbem-503 58 19 . . PUNCT fbem-503 59 1 therefore therefore ADV fbem-503 59 2 , , PUNCT fbem-503 59 3 the the DET fbem-503 59 4 explained explain VERB fbem-503 59 5 variable variable NOUN fbem-503 59 6 is be AUX fbem-503 59 7 not not PART fbem-503 59 8 a a DET fbem-503 59 9 continuous continuous ADJ fbem-503 59 10 variable variable NOUN fbem-503 59 11 but but CCONJ fbem-503 59 12 a a DET fbem-503 59 13 discrete discrete ADJ fbem-503 59 14 variable variable NOUN fbem-503 59 15 . . PUNCT fbem-503 60 1 considering consider VERB fbem-503 60 2 that that SCONJ fbem-503 60 3 the the DET fbem-503 60 4 variable variable NOUN fbem-503 60 5 is be AUX fbem-503 60 6 measured measure VERB fbem-503 60 7 in in ADP fbem-503 60 8 the the DET fbem-503 60 9 way way NOUN fbem-503 60 10 of of ADP fbem-503 60 11 dummy dummy ADJ fbem-503 60 12 variable variable ADJ fbem-503 60 13 assignment assignment NOUN fbem-503 60 14 , , PUNCT fbem-503 60 15 it it PRON fbem-503 60 16 is be AUX fbem-503 60 17 sequential sequential ADJ fbem-503 60 18 . . PUNCT fbem-503 61 1 π‘¦βˆ— π‘¦βˆ— PROPN fbem-503 61 2 π‘₯ π‘₯ PROPN fbem-503 61 3 𝛽 𝛽 NOUN fbem-503 61 4 πœ€ πœ€ X fbem-503 61 5 𝑦 𝑦 NOUN fbem-503 61 6 1 1 NUM fbem-503 61 7 ， ， PUNCT fbem-503 61 8 π‘¦βˆ— π‘¦βˆ— PROPN fbem-503 61 9 π‘Ÿ π‘Ÿ NOUN fbem-503 61 10 2 2 NUM fbem-503 61 11 ， ， PUNCT fbem-503 61 12 π‘Ÿ π‘Ÿ X fbem-503 61 13 π‘¦βˆ— π‘¦βˆ— PROPN fbem-503 61 14 π‘Ÿ π‘Ÿ SYM fbem-503 61 15 𝑛 𝑛 VERB fbem-503 61 16 ， ， PUNCT fbem-503 61 17 π‘Ÿ π‘Ÿ X fbem-503 61 18 π‘¦βˆ— π‘¦βˆ— PROPN fbem-503 61 19 π‘Ÿ π‘Ÿ PUNCT fbem-503 61 20 where where SCONJ fbem-503 61 21 , , PUNCT fbem-503 61 22 y y PROPN fbem-503 61 23 * * PROPN fbem-503 61 24 is be AUX fbem-503 61 25 an an DET fbem-503 61 26 unobserved unobserved ADJ fbem-503 61 27 latent latent NOUN fbem-503 61 28 variable variable NOUN fbem-503 61 29 , , PUNCT fbem-503 61 30 y y PROPN fbem-503 61 31 is be AUX fbem-503 61 32 the the DET fbem-503 61 33 value value NOUN fbem-503 61 34 assigned assign VERB fbem-503 61 35 to to ADP fbem-503 61 36 the the DET fbem-503 61 37 order order NOUN fbem-503 61 38 selection selection NOUN fbem-503 61 39 of of ADP fbem-503 61 40 enterprise enterprise NOUN fbem-503 61 41 market market NOUN fbem-503 61 42 entry entry NOUN fbem-503 61 43 , , PUNCT fbem-503 61 44 and and CCONJ fbem-503 61 45 the the DET fbem-503 61 46 coefficient coefficient NOUN fbem-503 61 47 of of ADP fbem-503 61 48 this this DET fbem-503 61 49 model model NOUN fbem-503 61 50 can can AUX fbem-503 61 51 be be AUX fbem-503 61 52 estimated estimate VERB fbem-503 61 53 by by ADP fbem-503 61 54 maximum maximum ADJ fbem-503 61 55 likelihood likelihood NOUN fbem-503 61 56 method method NOUN fbem-503 61 57 . . PUNCT fbem-503 62 1 stata13.0 stata13.0 NOUN fbem-503 62 2 is be AUX fbem-503 62 3 used use VERB fbem-503 62 4 for for ADP fbem-503 62 5 all all DET fbem-503 62 6 model model NOUN fbem-503 62 7 estimation estimation NOUN fbem-503 62 8 in in ADP fbem-503 62 9 this this DET fbem-503 62 10 paper paper NOUN fbem-503 62 11 . . PUNCT fbem-503 63 1 3.2 3.2 NUM fbem-503 63 2 . . PUNCT fbem-503 64 1 variable variable ADJ fbem-503 64 2 description description NOUN fbem-503 64 3 ( ( PUNCT fbem-503 64 4 1 1 X fbem-503 64 5 ) ) PUNCT fbem-503 64 6 the the DET fbem-503 64 7 dependent dependent ADJ fbem-503 64 8 variable variable NOUN fbem-503 64 9 the the DET fbem-503 64 10 order order NOUN fbem-503 64 11 of of ADP fbem-503 64 12 market market NOUN fbem-503 64 13 entry entry NOUN fbem-503 64 14 is be AUX fbem-503 64 15 defined define VERB fbem-503 64 16 as as ADP fbem-503 64 17 the the DET fbem-503 64 18 order order NOUN fbem-503 64 19 in in ADP fbem-503 64 20 which which PRON fbem-503 64 21 a a DET fbem-503 64 22 transnational transnational ADJ fbem-503 64 23 enterprise enterprise NOUN fbem-503 64 24 chooses choose VERB fbem-503 64 25 the the DET fbem-503 64 26 host host NOUN fbem-503 64 27 country country NOUN fbem-503 64 28 ( ( PUNCT fbem-503 64 29 region region NOUN fbem-503 64 30 ) ) PUNCT fbem-503 64 31 to to ADP fbem-503 64 32 60 60 NUM fbem-503 64 33 invest invest VERB fbem-503 64 34 in in ADP fbem-503 64 35 its its PRON fbem-503 64 36 continuous continuous ADJ fbem-503 64 37 ofdi ofdi NOUN fbem-503 64 38 activities activity NOUN fbem-503 64 39 , , PUNCT fbem-503 64 40 which which PRON fbem-503 64 41 is be AUX fbem-503 64 42 mainly mainly ADV fbem-503 64 43 described describe VERB fbem-503 64 44 in in ADP fbem-503 64 45 the the DET fbem-503 64 46 paper paper NOUN fbem-503 64 47 at at ADP fbem-503 64 48 the the DET fbem-503 64 49 level level NOUN fbem-503 64 50 of of ADP fbem-503 64 51 " " PUNCT fbem-503 64 52 distance distance NOUN fbem-503 64 53 " " PUNCT fbem-503 64 54 . . PUNCT fbem-503 65 1 that that PRON fbem-503 65 2 is be AUX fbem-503 65 3 , , PUNCT fbem-503 65 4 whether whether SCONJ fbem-503 65 5 the the DET fbem-503 65 6 enterprise enterprise NOUN fbem-503 65 7 first first ADJ fbem-503 65 8 invests invest NOUN fbem-503 65 9 in in ADP fbem-503 65 10 the the DET fbem-503 65 11 " " PUNCT fbem-503 65 12 close close ADJ fbem-503 65 13 " " PUNCT fbem-503 65 14 country country NOUN fbem-503 65 15 or or CCONJ fbem-503 65 16 the the DET fbem-503 65 17 " " PUNCT fbem-503 65 18 far far ADJ fbem-503 65 19 " " PUNCT fbem-503 65 20 country country NOUN fbem-503 65 21 , , PUNCT fbem-503 65 22 the the DET fbem-503 65 23 " " PUNCT fbem-503 65 24 distance distance NOUN fbem-503 65 25 " " PUNCT fbem-503 65 26 here here ADV fbem-503 65 27 has have VERB fbem-503 65 28 many many ADJ fbem-503 65 29 different different ADJ fbem-503 65 30 measurement measurement NOUN fbem-503 65 31 angles angle NOUN fbem-503 65 32 . . PUNCT fbem-503 66 1 measurement measurement NOUN fbem-503 66 2 this this DET fbem-503 66 3 paper paper NOUN fbem-503 66 4 adopts adopt VERB fbem-503 66 5 the the DET fbem-503 66 6 dummy dummy ADJ fbem-503 66 7 variable variable NOUN fbem-503 66 8 assignment assignment NOUN fbem-503 66 9 way way NOUN fbem-503 66 10 , , PUNCT fbem-503 66 11 the the DET fbem-503 66 12 order order NOUN fbem-503 66 13 of of ADP fbem-503 66 14 enterprises enterprise NOUN fbem-503 66 15 to to PART fbem-503 66 16 invest invest VERB fbem-503 66 17 overseas overseas ADJ fbem-503 66 18 assignment assignment NOUN fbem-503 66 19 , , PUNCT fbem-503 66 20 according accord VERB fbem-503 66 21 to to ADP fbem-503 66 22 the the DET fbem-503 66 23 list list NOUN fbem-503 66 24 of of ADP fbem-503 66 25 foreign foreign ADJ fbem-503 66 26 investment investment NOUN fbem-503 66 27 enterprises enterprise NOUN fbem-503 66 28 ( ( PUNCT fbem-503 66 29 institutions institution NOUN fbem-503 66 30 ) ) PUNCT fbem-503 66 31 the the DET fbem-503 66 32 approval approval NOUN fbem-503 66 33 date date NOUN fbem-503 66 34 of of ADP fbem-503 66 35 the the DET fbem-503 66 36 same same ADJ fbem-503 66 37 enterprise enterprise NOUN fbem-503 66 38 continuous continuous ADJ fbem-503 66 39 investment investment NOUN fbem-503 66 40 activities activity NOUN fbem-503 66 41 order order NOUN fbem-503 66 42 , , PUNCT fbem-503 66 43 the the DET fbem-503 66 44 first first ADJ fbem-503 66 45 overseas overseas ADJ fbem-503 66 46 investment investment NOUN fbem-503 66 47 counting count VERB fbem-503 66 48 1 1 NUM fbem-503 66 49 , , PUNCT fbem-503 66 50 the the DET fbem-503 66 51 second second ADJ fbem-503 66 52 investment investment NOUN fbem-503 66 53 count count NOUN fbem-503 66 54 2 2 NUM fbem-503 66 55 , , PUNCT fbem-503 66 56 and and CCONJ fbem-503 66 57 so so ADV fbem-503 66 58 on on ADV fbem-503 66 59 . . PUNCT fbem-503 67 1 this this DET fbem-503 67 2 paper paper NOUN fbem-503 67 3 focuses focus VERB fbem-503 67 4 on on ADP fbem-503 67 5 the the DET fbem-503 67 6 sequence sequence NOUN fbem-503 67 7 of of ADP fbem-503 67 8 continuous continuous ADJ fbem-503 67 9 investment investment NOUN fbem-503 67 10 . . PUNCT fbem-503 68 1 if if SCONJ fbem-503 68 2 the the DET fbem-503 68 3 same same ADJ fbem-503 68 4 enterprise enterprise NOUN fbem-503 68 5 has have AUX fbem-503 68 6 made make VERB fbem-503 68 7 overseas overseas ADJ fbem-503 68 8 investment investment NOUN fbem-503 68 9 for for ADP fbem-503 68 10 many many ADJ fbem-503 68 11 times time NOUN fbem-503 68 12 in in ADP fbem-503 68 13 the the DET fbem-503 68 14 same same ADJ fbem-503 68 15 year year NOUN fbem-503 68 16 , , PUNCT fbem-503 68 17 the the DET fbem-503 68 18 same same ADJ fbem-503 68 19 sequence sequence NOUN fbem-503 68 20 value value NOUN fbem-503 68 21 is be AUX fbem-503 68 22 taken take VERB fbem-503 68 23 . . PUNCT fbem-503 69 1 and and CCONJ fbem-503 69 2 for for ADP fbem-503 69 3 the the DET fbem-503 69 4 same same ADJ fbem-503 69 5 enterprise enterprise NOUN fbem-503 69 6 in in ADP fbem-503 69 7 different different ADJ fbem-503 69 8 years year NOUN fbem-503 69 9 to to ADP fbem-503 69 10 the the DET fbem-503 69 11 same same ADJ fbem-503 69 12 region region NOUN fbem-503 69 13 investment investment NOUN fbem-503 69 14 behavior behavior NOUN fbem-503 69 15 , , PUNCT fbem-503 69 16 take take VERB fbem-503 69 17 different different ADJ fbem-503 69 18 order order NOUN fbem-503 69 19 value value NOUN fbem-503 69 20 . . PUNCT fbem-503 70 1 the the DET fbem-503 70 2 time time NOUN fbem-503 70 3 data datum NOUN fbem-503 70 4 of of ADP fbem-503 70 5 chinese chinese ADJ fbem-503 70 6 enterprises enterprise NOUN fbem-503 70 7 ' ' PART fbem-503 70 8 overseas overseas ADJ fbem-503 70 9 expansion expansion NOUN fbem-503 70 10 activities activity NOUN fbem-503 70 11 come come VERB fbem-503 70 12 from from ADP fbem-503 70 13 the the DET fbem-503 70 14 directory directory NOUN fbem-503 70 15 of of ADP fbem-503 70 16 overseas overseas ADJ fbem-503 70 17 enterprises enterprise NOUN fbem-503 70 18 ' ' PART fbem-503 70 19 investment investment NOUN fbem-503 70 20 issued issue VERB fbem-503 70 21 by by ADP fbem-503 70 22 the the DET fbem-503 70 23 ministry ministry PROPN fbem-503 70 24 of of ADP fbem-503 70 25 commerce commerce PROPN fbem-503 70 26 . . PUNCT fbem-503 71 1 ( ( PUNCT fbem-503 71 2 2 2 X fbem-503 71 3 ) ) PUNCT fbem-503 71 4 the the DET fbem-503 71 5 independent independent ADJ fbem-503 71 6 variables variable NOUN fbem-503 71 7 market market NOUN fbem-503 71 8 size：market size：market PROPN fbem-503 71 9 size size NOUN fbem-503 71 10 describes describe VERB fbem-503 71 11 the the DET fbem-503 71 12 size size NOUN fbem-503 71 13 of of ADP fbem-503 71 14 the the DET fbem-503 71 15 market market NOUN fbem-503 71 16 of of ADP fbem-503 71 17 the the DET fbem-503 71 18 host host NOUN fbem-503 71 19 country country NOUN fbem-503 71 20 and and CCONJ fbem-503 71 21 is be AUX fbem-503 71 22 generally generally ADV fbem-503 71 23 measured measure VERB fbem-503 71 24 by by ADP fbem-503 71 25 the the DET fbem-503 71 26 gdp gdp NOUN fbem-503 71 27 of of ADP fbem-503 71 28 the the DET fbem-503 71 29 host host NOUN fbem-503 71 30 country country NOUN fbem-503 71 31 . . PUNCT fbem-503 72 1 the the DET fbem-503 72 2 market market NOUN fbem-503 72 3 size size NOUN fbem-503 72 4 of of ADP fbem-503 72 5 the the DET fbem-503 72 6 paper paper NOUN fbem-503 72 7 is be AUX fbem-503 72 8 measured measure VERB fbem-503 72 9 in in ADP fbem-503 72 10 terms term NOUN fbem-503 72 11 of of ADP fbem-503 72 12 total total ADJ fbem-503 72 13 gdp gdp NOUN fbem-503 72 14 in in ADP fbem-503 72 15 current current ADJ fbem-503 72 16 us us PROPN fbem-503 72 17 dollars dollar NOUN fbem-503 72 18 , , PUNCT fbem-503 72 19 using use VERB fbem-503 72 20 data datum NOUN fbem-503 72 21 from from ADP fbem-503 72 22 the the DET fbem-503 72 23 world world NOUN fbem-503 72 24 bank bank PROPN fbem-503 72 25 . . PUNCT fbem-503 73 1 geographic geographic ADJ fbem-503 73 2 distance distance NOUN fbem-503 73 3 : : PUNCT fbem-503 73 4 there there PRON fbem-503 73 5 are be VERB fbem-503 73 6 many many ADJ fbem-503 73 7 ways way NOUN fbem-503 73 8 to to PART fbem-503 73 9 measure measure VERB fbem-503 73 10 the the DET fbem-503 73 11 geographical geographical ADJ fbem-503 73 12 distance distance NOUN fbem-503 73 13 , , PUNCT fbem-503 73 14 the the DET fbem-503 73 15 simple simple ADJ fbem-503 73 16 way way NOUN fbem-503 73 17 is be AUX fbem-503 73 18 to to PART fbem-503 73 19 take take VERB fbem-503 73 20 the the DET fbem-503 73 21 geographical geographical ADJ fbem-503 73 22 distance distance NOUN fbem-503 73 23 between between ADP fbem-503 73 24 two two NUM fbem-503 73 25 capitals capital NOUN fbem-503 73 26 as as ADP fbem-503 73 27 the the DET fbem-503 73 28 geographical geographical ADJ fbem-503 73 29 distance distance NOUN fbem-503 73 30 between between ADP fbem-503 73 31 two two NUM fbem-503 73 32 countries country NOUN fbem-503 73 33 , , PUNCT fbem-503 73 34 but but CCONJ fbem-503 73 35 this this DET fbem-503 73 36 measurement measurement NOUN fbem-503 73 37 method method NOUN fbem-503 73 38 has have VERB fbem-503 73 39 obvious obvious ADJ fbem-503 73 40 defects defect NOUN fbem-503 73 41 . . PUNCT fbem-503 74 1 for for ADP fbem-503 74 2 example example NOUN fbem-503 74 3 , , PUNCT fbem-503 74 4 the the DET fbem-503 74 5 distance distance NOUN fbem-503 74 6 between between ADP fbem-503 74 7 china china PROPN fbem-503 74 8 and and CCONJ fbem-503 74 9 the the DET fbem-503 74 10 united united PROPN fbem-503 74 11 states states PROPN fbem-503 74 12 , , PUNCT fbem-503 74 13 the the DET fbem-503 74 14 distance distance NOUN fbem-503 74 15 between between ADP fbem-503 74 16 beijing beijing PROPN fbem-503 74 17 and and CCONJ fbem-503 74 18 washington washington PROPN fbem-503 74 19 is be AUX fbem-503 74 20 completely completely ADV fbem-503 74 21 different different ADJ fbem-503 74 22 from from ADP fbem-503 74 23 the the DET fbem-503 74 24 distance distance NOUN fbem-503 74 25 between between ADP fbem-503 74 26 beijing beijing PROPN fbem-503 74 27 and and CCONJ fbem-503 74 28 seattle seattle PROPN fbem-503 74 29 . . PUNCT fbem-503 75 1 therefore therefore ADV fbem-503 75 2 , , PUNCT fbem-503 75 3 the the DET fbem-503 75 4 paper paper NOUN fbem-503 75 5 adopts adopt VERB fbem-503 75 6 the the DET fbem-503 75 7 research research NOUN fbem-503 75 8 results result NOUN fbem-503 75 9 of of ADP fbem-503 75 10 mayer mayer PROPN fbem-503 75 11 and and CCONJ fbem-503 75 12 zignago(2011 zignago(2011 NUM fbem-503 75 13 ) ) PUNCT fbem-503 75 14 and and CCONJ fbem-503 75 15 calculates calculate VERB fbem-503 75 16 the the DET fbem-503 75 17 weighted weight VERB fbem-503 75 18 results result NOUN fbem-503 75 19 based base VERB fbem-503 75 20 on on ADP fbem-503 75 21 the the DET fbem-503 75 22 distance distance NOUN fbem-503 75 23 of of ADP fbem-503 75 24 important important ADJ fbem-503 75 25 cities city NOUN fbem-503 75 26 between between ADP fbem-503 75 27 the the DET fbem-503 75 28 two two NUM fbem-503 75 29 countries country NOUN fbem-503 75 30 . . PUNCT fbem-503 76 1 the the DET fbem-503 76 2 calculation calculation NOUN fbem-503 76 3 method method NOUN fbem-503 76 4 is be AUX fbem-503 76 5 as as SCONJ fbem-503 76 6 follows follow VERB fbem-503 76 7 𝑑 𝑑 PROPN fbem-503 76 8 𝑝 𝑝 PROPN fbem-503 76 9 /𝑝 /𝑝 PUNCT fbem-503 76 10 𝑝 𝑝 NOUN fbem-503 76 11 /𝑝𝑗 /𝑝𝑗 PUNCT fbem-503 77 1 𝑑 𝑑 NOUN fbem-503 77 2 ∈∈ ∈∈ ADV fbem-503 77 3 where where SCONJ fbem-503 77 4 d_ij d_ij NOUN fbem-503 77 5 represents represent VERB fbem-503 77 6 the the DET fbem-503 77 7 geographical geographical ADJ fbem-503 77 8 distance distance NOUN fbem-503 77 9 between between ADP fbem-503 77 10 country country NOUN fbem-503 77 11 i i PRON fbem-503 77 12 and and CCONJ fbem-503 77 13 country country PROPN fbem-503 77 14 j j PROPN fbem-503 77 15 , , PUNCT fbem-503 77 16 p p NOUN fbem-503 77 17 represents represent VERB fbem-503 77 18 the the DET fbem-503 77 19 population population NOUN fbem-503 77 20 , , PUNCT fbem-503 77 21 k k PROPN fbem-503 77 22 and and CCONJ fbem-503 77 23 l l PROPN fbem-503 77 24 represent represent VERB fbem-503 77 25 the the DET fbem-503 77 26 major major ADJ fbem-503 77 27 cities city NOUN fbem-503 77 28 of of ADP fbem-503 77 29 country country NOUN fbem-503 77 30 i i PRON fbem-503 77 31 and and CCONJ fbem-503 77 32 country country PROPN fbem-503 77 33 j j PROPN fbem-503 77 34 , , PUNCT fbem-503 77 35 and and CCONJ fbem-503 77 36 d_ki d_ki NOUN fbem-503 77 37 represents represent VERB fbem-503 77 38 the the DET fbem-503 77 39 distance distance NOUN fbem-503 77 40 between between ADP fbem-503 77 41 cities city NOUN fbem-503 77 42 . . PUNCT fbem-503 78 1 the the DET fbem-503 78 2 geographical geographical ADJ fbem-503 78 3 distance distance NOUN fbem-503 78 4 data datum NOUN fbem-503 78 5 of of ADP fbem-503 78 6 major major ADJ fbem-503 78 7 cities city NOUN fbem-503 78 8 between between ADP fbem-503 78 9 the the DET fbem-503 78 10 two two NUM fbem-503 78 11 countries country NOUN fbem-503 78 12 were be AUX fbem-503 78 13 obtained obtain VERB fbem-503 78 14 from from ADP fbem-503 78 15 the the DET fbem-503 78 16 cep cep PROPN fbem-503 78 17 ii ii PROPN fbem-503 78 18 database database NOUN fbem-503 78 19 . . PUNCT fbem-503 79 1 cultural cultural ADJ fbem-503 79 2 distance distance NOUN fbem-503 79 3 : : PUNCT fbem-503 79 4 hofstede hofstede PROPN fbem-503 79 5 's 's PART fbem-503 79 6 data datum NOUN fbem-503 79 7 on on ADP fbem-503 79 8 six six NUM fbem-503 79 9 dimensions dimension NOUN fbem-503 79 10 of of ADP fbem-503 79 11 cultural cultural ADJ fbem-503 79 12 distance distance NOUN fbem-503 79 13 , , PUNCT fbem-503 79 14 namely namely ADV fbem-503 79 15 , , PUNCT fbem-503 79 16 power power NOUN fbem-503 79 17 distance distance NOUN fbem-503 79 18 , , PUNCT fbem-503 79 19 individualism individualism NOUN fbem-503 79 20 and and CCONJ fbem-503 79 21 collectivism collectivism NOUN fbem-503 79 22 , , PUNCT fbem-503 79 23 uncertainty uncertainty NOUN fbem-503 79 24 avoidance avoidance NOUN fbem-503 79 25 , , PUNCT fbem-503 79 26 masculinity masculinity NOUN fbem-503 79 27 and and CCONJ fbem-503 79 28 femininity femininity NOUN fbem-503 79 29 , , PUNCT fbem-503 79 30 long long ADJ fbem-503 79 31 - - PUNCT fbem-503 79 32 term term NOUN fbem-503 79 33 / / SYM fbem-503 79 34 short short ADJ fbem-503 79 35 - - PUNCT fbem-503 79 36 term term NOUN fbem-503 79 37 orientation orientation NOUN fbem-503 79 38 , , PUNCT fbem-503 79 39 indulgence indulgence NOUN fbem-503 79 40 and and CCONJ fbem-503 79 41 restraint restraint NOUN fbem-503 79 42 , , PUNCT fbem-503 79 43 were be AUX fbem-503 79 44 adopted adopt VERB fbem-503 79 45 . . PUNCT fbem-503 80 1 as as SCONJ fbem-503 80 2 the the DET fbem-503 80 3 six six NUM fbem-503 80 4 dimensions dimension NOUN fbem-503 80 5 are be AUX fbem-503 80 6 all all PRON fbem-503 80 7 important important ADJ fbem-503 80 8 manifestations manifestation NOUN fbem-503 80 9 of of ADP fbem-503 80 10 cultural cultural ADJ fbem-503 80 11 distance distance NOUN fbem-503 80 12 , , PUNCT fbem-503 80 13 only only ADV fbem-503 80 14 one one NUM fbem-503 80 15 of of ADP fbem-503 80 16 them they PRON fbem-503 80 17 can can AUX fbem-503 80 18 not not PART fbem-503 80 19 fully fully ADV fbem-503 80 20 measure measure VERB fbem-503 80 21 cultural cultural ADJ fbem-503 80 22 distance distance NOUN fbem-503 80 23 . . PUNCT fbem-503 81 1 therefore therefore ADV fbem-503 81 2 , , PUNCT fbem-503 81 3 according accord VERB fbem-503 81 4 to to ADP fbem-503 81 5 the the DET fbem-503 81 6 method method NOUN fbem-503 81 7 of of ADP fbem-503 81 8 kogut kogut NOUN fbem-503 81 9 1988 1988 NUM fbem-503 81 10 , , PUNCT fbem-503 81 11 this this DET fbem-503 81 12 paper paper NOUN fbem-503 81 13 calculates calculate VERB fbem-503 81 14 six six NUM fbem-503 81 15 dimensions dimension NOUN fbem-503 81 16 to to PART fbem-503 81 17 determine determine VERB fbem-503 81 18 the the DET fbem-503 81 19 cultural cultural ADJ fbem-503 81 20 distance distance NOUN fbem-503 81 21 between between ADP fbem-503 81 22 two two NUM fbem-503 81 23 countries country NOUN fbem-503 81 24 . . PUNCT fbem-503 82 1 substitution substitution NOUN fbem-503 82 2 processing processing NOUN fbem-503 82 3 and and CCONJ fbem-503 82 4 mean mean ADJ fbem-503 82 5 processing processing NOUN fbem-503 82 6 were be AUX fbem-503 82 7 carried carry VERB fbem-503 82 8 out out ADP fbem-503 82 9 for for ADP fbem-503 82 10 missing miss VERB fbem-503 82 11 data datum NOUN fbem-503 82 12 of of ADP fbem-503 82 13 some some DET fbem-503 82 14 countries country NOUN fbem-503 82 15 ( ( PUNCT fbem-503 82 16 ojala ojala NOUN fbem-503 82 17 and and CCONJ fbem-503 82 18 tyrvainen tyrvainen NOUN fbem-503 82 19 , , PUNCT fbem-503 82 20 2007 2007 NUM fbem-503 82 21 ) ) PUNCT fbem-503 82 22 . . PUNCT fbem-503 83 1 calculation calculation NOUN fbem-503 83 2 formula formula NOUN fbem-503 83 3 : : PUNCT fbem-503 83 4 𝐢𝐷 𝐢𝐷 NOUN fbem-503 83 5 𝐼 𝐼 ADP fbem-503 83 6 𝐼 𝐼 PROPN fbem-503 83 7 / / SYM fbem-503 83 8 6 6 NUM fbem-503 83 9 βˆ— βˆ— NOUN fbem-503 83 10 𝑉 𝑉 PROPN fbem-503 83 11 where where SCONJ fbem-503 83 12 , , PUNCT fbem-503 83 13 𝐢𝐷 𝐢𝐷 PROPN fbem-503 83 14 represents represent VERB fbem-503 83 15 the the DET fbem-503 83 16 cultural cultural ADJ fbem-503 83 17 distance distance NOUN fbem-503 83 18 between between ADP fbem-503 83 19 country country NOUN fbem-503 83 20 j j PROPN fbem-503 83 21 and and CCONJ fbem-503 83 22 china china PROPN fbem-503 83 23 , , PUNCT fbem-503 83 24 𝐼 𝐼 PROPN fbem-503 83 25 represents represent VERB fbem-503 83 26 the the DET fbem-503 83 27 score score NOUN fbem-503 83 28 of of ADP fbem-503 83 29 country country NOUN fbem-503 83 30 j j PROPN fbem-503 83 31 in in ADP fbem-503 83 32 dimension dimension PROPN fbem-503 83 33 i i PRON fbem-503 83 34 , , PUNCT fbem-503 83 35 𝐼 𝐼 PROPN fbem-503 83 36 represents represent VERB fbem-503 83 37 the the DET fbem-503 83 38 score score NOUN fbem-503 83 39 of of ADP fbem-503 83 40 china china PROPN fbem-503 83 41 in in ADP fbem-503 83 42 dimension dimension PROPN fbem-503 83 43 i i PRON fbem-503 83 44 , , PUNCT fbem-503 83 45 and and CCONJ fbem-503 83 46 𝑉 𝑉 PROPN fbem-503 83 47 represents represent VERB fbem-503 83 48 the the DET fbem-503 83 49 variance variance NOUN fbem-503 83 50 of of ADP fbem-503 83 51 dimension dimension PROPN fbem-503 83 52 i. i. PROPN fbem-503 83 53 cultural cultural PROPN fbem-503 83 54 distance distance PROPN fbem-503 83 55 data datum NOUN fbem-503 83 56 comes come VERB fbem-503 83 57 from from ADP fbem-503 83 58 hofstede hofstede NOUN fbem-503 83 59 's 's PART fbem-503 83 60 official official ADJ fbem-503 83 61 website website NOUN fbem-503 83 62 . . PUNCT fbem-503 84 1 it it PRON fbem-503 84 2 is be AUX fbem-503 84 3 worth worth ADJ fbem-503 84 4 noting note VERB fbem-503 84 5 that that SCONJ fbem-503 84 6 there there PRON fbem-503 84 7 are be VERB fbem-503 84 8 many many ADJ fbem-503 84 9 missing missing ADJ fbem-503 84 10 values value NOUN fbem-503 84 11 in in ADP fbem-503 84 12 the the DET fbem-503 84 13 original original ADJ fbem-503 84 14 data datum NOUN fbem-503 84 15 of of ADP fbem-503 84 16 hofstede hofstede NOUN fbem-503 84 17 's 's PART fbem-503 84 18 website website NOUN fbem-503 84 19 . . PUNCT fbem-503 85 1 missing miss VERB fbem-503 85 2 values value NOUN fbem-503 85 3 are be AUX fbem-503 85 4 processed process VERB fbem-503 85 5 according accord VERB fbem-503 85 6 to to ADP fbem-503 85 7 the the DET fbem-503 85 8 following following ADJ fbem-503 85 9 principles principle NOUN fbem-503 85 10 : : PUNCT fbem-503 85 11 principle principle NOUN fbem-503 85 12 1 1 NUM fbem-503 85 13 : : PUNCT fbem-503 85 14 countries country NOUN fbem-503 85 15 with with ADP fbem-503 85 16 similar similar ADJ fbem-503 85 17 cultural cultural ADJ fbem-503 85 18 backgrounds background NOUN fbem-503 85 19 are be AUX fbem-503 85 20 replaced replace VERB fbem-503 85 21 by by ADP fbem-503 85 22 mean mean ADJ fbem-503 85 23 values value NOUN fbem-503 85 24 ; ; PUNCT fbem-503 85 25 principle principle NOUN fbem-503 85 26 2 2 NUM fbem-503 85 27 : : PUNCT fbem-503 85 28 mean mean ADJ fbem-503 85 29 values value NOUN fbem-503 85 30 are be AUX fbem-503 85 31 used use VERB fbem-503 85 32 for for ADP fbem-503 85 33 geographically geographically ADV fbem-503 85 34 similar similar ADJ fbem-503 85 35 countries country NOUN fbem-503 85 36 . . PUNCT fbem-503 86 1 for for ADP fbem-503 86 2 countries country NOUN fbem-503 86 3 with with ADP fbem-503 86 4 similar similar ADJ fbem-503 86 5 cultural cultural ADJ fbem-503 86 6 backgrounds background NOUN fbem-503 86 7 , , PUNCT fbem-503 86 8 such such ADJ fbem-503 86 9 as as ADP fbem-503 86 10 denmark denmark NOUN fbem-503 86 11 , , PUNCT fbem-503 86 12 sweden sweden PROPN fbem-503 86 13 , , PUNCT fbem-503 86 14 finland finland PROPN fbem-503 86 15 , , PUNCT fbem-503 86 16 norway norway PROPN fbem-503 86 17 and and CCONJ fbem-503 86 18 iceland iceland PROPN fbem-503 86 19 , , PUNCT fbem-503 86 20 if if SCONJ fbem-503 86 21 the the DET fbem-503 86 22 cultural cultural ADJ fbem-503 86 23 distance distance NOUN fbem-503 86 24 data datum NOUN fbem-503 86 25 of of ADP fbem-503 86 26 iceland iceland PROPN fbem-503 86 27 is be AUX fbem-503 86 28 missing miss VERB fbem-503 86 29 , , PUNCT fbem-503 86 30 the the DET fbem-503 86 31 mean mean ADJ fbem-503 86 32 value value NOUN fbem-503 86 33 of of ADP fbem-503 86 34 cultural cultural ADJ fbem-503 86 35 distance distance NOUN fbem-503 86 36 of of ADP fbem-503 86 37 denmark denmark NOUN fbem-503 86 38 , , PUNCT fbem-503 86 39 sweden sweden PROPN fbem-503 86 40 , , PUNCT fbem-503 86 41 finland finland PROPN fbem-503 86 42 and and CCONJ fbem-503 86 43 norway norway PROPN fbem-503 86 44 is be AUX fbem-503 86 45 used use VERB fbem-503 86 46 instead instead ADV fbem-503 86 47 . . PUNCT fbem-503 87 1 geographically geographically ADV fbem-503 87 2 close close ADJ fbem-503 87 3 countries country NOUN fbem-503 87 4 , , PUNCT fbem-503 87 5 such such ADJ fbem-503 87 6 as as ADP fbem-503 87 7 the the DET fbem-503 87 8 caribbean caribbean ADJ fbem-503 87 9 region region NOUN fbem-503 87 10 , , PUNCT fbem-503 87 11 missing miss VERB fbem-503 87 12 puerto puerto PROPN fbem-503 87 13 rico rico PROPN fbem-503 87 14 's 's PART fbem-503 87 15 data datum NOUN fbem-503 87 16 and and CCONJ fbem-503 87 17 replacing replace VERB fbem-503 87 18 it it PRON fbem-503 87 19 with with ADP fbem-503 87 20 the the DET fbem-503 87 21 mean mean ADJ fbem-503 87 22 cultural cultural ADJ fbem-503 87 23 distance distance NOUN fbem-503 87 24 of of ADP fbem-503 87 25 neighboring neighboring NOUN fbem-503 87 26 countries country NOUN fbem-503 87 27 such such ADJ fbem-503 87 28 as as ADP fbem-503 87 29 guatemala guatemala PROPN fbem-503 87 30 , , PUNCT fbem-503 87 31 panama panama PROPN fbem-503 87 32 , , PUNCT fbem-503 87 33 el el PROPN fbem-503 87 34 salvador salvador PROPN fbem-503 87 35 , , PUNCT fbem-503 87 36 and and CCONJ fbem-503 87 37 costa costa PROPN fbem-503 87 38 rica rica PROPN fbem-503 87 39 . . PUNCT fbem-503 88 1 system system NOUN fbem-503 88 2 of of ADP fbem-503 88 3 distance：institutional distance：institutional PROPN fbem-503 88 4 distance distance NOUN fbem-503 88 5 describes describe VERB fbem-503 88 6 the the DET fbem-503 88 7 political political ADJ fbem-503 88 8 , , PUNCT fbem-503 88 9 legal legal ADJ fbem-503 88 10 and and CCONJ fbem-503 88 11 social social ADJ fbem-503 88 12 differences difference NOUN fbem-503 88 13 between between ADP fbem-503 88 14 two two NUM fbem-503 88 15 countries country NOUN fbem-503 88 16 . . PUNCT fbem-503 89 1 seven seven NUM fbem-503 89 2 dimensions dimension NOUN fbem-503 89 3 of of ADP fbem-503 89 4 the the DET fbem-503 89 5 international international ADJ fbem-503 89 6 guidelines guideline NOUN fbem-503 89 7 on on ADP fbem-503 89 8 country country NOUN fbem-503 89 9 risk risk NOUN fbem-503 89 10 ( ( PUNCT fbem-503 89 11 icrg icrg NOUN fbem-503 89 12 ) ) PUNCT fbem-503 89 13 , , PUNCT fbem-503 89 14 namely namely ADV fbem-503 89 15 political political ADJ fbem-503 89 16 stability stability NOUN fbem-503 89 17 , , PUNCT fbem-503 89 18 socioeconomic socioeconomic ADJ fbem-503 89 19 conditions condition NOUN fbem-503 89 20 , , PUNCT fbem-503 89 21 investment investment NOUN fbem-503 89 22 risk risk NOUN fbem-503 89 23 , , PUNCT fbem-503 89 24 law law NOUN fbem-503 89 25 and and CCONJ fbem-503 89 26 order order NOUN fbem-503 89 27 , , PUNCT fbem-503 89 28 democratic democratic ADJ fbem-503 89 29 accountability accountability NOUN fbem-503 89 30 , , PUNCT fbem-503 89 31 corruption corruption NOUN fbem-503 89 32 and and CCONJ fbem-503 89 33 administrative administrative ADJ fbem-503 89 34 quality quality NOUN fbem-503 89 35 , , PUNCT fbem-503 89 36 were be AUX fbem-503 89 37 selected select VERB fbem-503 89 38 for for ADP fbem-503 89 39 institutional institutional ADJ fbem-503 89 40 distance distance NOUN fbem-503 89 41 , , PUNCT fbem-503 89 42 and and CCONJ fbem-503 89 43 the the DET fbem-503 89 44 same same ADJ fbem-503 89 45 weighting weighting NOUN fbem-503 89 46 method method NOUN fbem-503 89 47 was be AUX fbem-503 89 48 used use VERB fbem-503 89 49 as as ADP fbem-503 89 50 cultural cultural ADJ fbem-503 89 51 distance distance NOUN fbem-503 89 52 . . PUNCT fbem-503 90 1 data datum NOUN fbem-503 90 2 from from ADP fbem-503 90 3 icrg icrg ADJ fbem-503 90 4 website website NOUN fbem-503 90 5 . . PUNCT fbem-503 91 1 𝐢𝐷 𝐢𝐷 VERB fbem-503 91 2 𝐼 𝐼 ADP fbem-503 91 3 𝐼 𝐼 PROPN fbem-503 91 4 / / SYM fbem-503 91 5 7 7 NUM fbem-503 91 6 βˆ— βˆ— NOUN fbem-503 91 7 𝑉 𝑉 PROPN fbem-503 91 8 ( ( PUNCT fbem-503 91 9 3 3 NUM fbem-503 91 10 ) ) PUNCT fbem-503 91 11 control control NOUN fbem-503 91 12 variables variable VERB fbem-503 91 13 the the DET fbem-503 91 14 principle principle NOUN fbem-503 91 15 of of ADP fbem-503 91 16 adding add VERB fbem-503 91 17 control control NOUN fbem-503 91 18 variables variable NOUN fbem-503 91 19 is be AUX fbem-503 91 20 that that SCONJ fbem-503 91 21 in in ADP fbem-503 91 22 addition addition NOUN fbem-503 91 23 to to ADP fbem-503 91 24 the the DET fbem-503 91 25 main main ADJ fbem-503 91 26 variables variable NOUN fbem-503 91 27 studied study VERB fbem-503 91 28 , , PUNCT fbem-503 91 29 there there PRON fbem-503 91 30 are be VERB fbem-503 91 31 other other ADJ fbem-503 91 32 factors factor NOUN fbem-503 91 33 that that PRON fbem-503 91 34 will will AUX fbem-503 91 35 have have VERB fbem-503 91 36 an an DET fbem-503 91 37 impact impact NOUN fbem-503 91 38 on on ADP fbem-503 91 39 the the DET fbem-503 91 40 international international ADJ fbem-503 91 41 market market NOUN fbem-503 91 42 entry entry NOUN fbem-503 91 43 order order NOUN fbem-503 91 44 of of ADP fbem-503 91 45 an an DET fbem-503 91 46 enterprise enterprise NOUN fbem-503 91 47 . . PUNCT fbem-503 92 1 it it PRON fbem-503 92 2 can can AUX fbem-503 92 3 be be AUX fbem-503 92 4 divided divide VERB fbem-503 92 5 into into ADP fbem-503 92 6 two two NUM fbem-503 92 7 categories category NOUN fbem-503 92 8 , , PUNCT fbem-503 92 9 one one NUM fbem-503 92 10 is be AUX fbem-503 92 11 the the DET fbem-503 92 12 conditions condition NOUN fbem-503 92 13 for for ADP fbem-503 92 14 attracting attract VERB fbem-503 92 15 foreign foreign ADJ fbem-503 92 16 investment investment NOUN fbem-503 92 17 in in ADP fbem-503 92 18 the the DET fbem-503 92 19 host host NOUN fbem-503 92 20 country country NOUN fbem-503 92 21 , , PUNCT fbem-503 92 22 and and CCONJ fbem-503 92 23 the the DET fbem-503 92 24 other other ADJ fbem-503 92 25 is be AUX fbem-503 92 26 the the DET fbem-503 92 27 internal internal ADJ fbem-503 92 28 characteristics characteristic NOUN fbem-503 92 29 of of ADP fbem-503 92 30 enterprises enterprise NOUN fbem-503 92 31 . . PUNCT fbem-503 93 1 based base VERB fbem-503 93 2 on on ADP fbem-503 93 3 the the DET fbem-503 93 4 above above ADJ fbem-503 93 5 principles principle NOUN fbem-503 93 6 and and CCONJ fbem-503 93 7 data datum NOUN fbem-503 93 8 availability availability NOUN fbem-503 93 9 , , PUNCT fbem-503 93 10 three three NUM fbem-503 93 11 factors factor NOUN fbem-503 93 12 , , PUNCT fbem-503 93 13 population population NOUN fbem-503 93 14 size size NOUN fbem-503 93 15 , , PUNCT fbem-503 93 16 economic economic ADJ fbem-503 93 17 development development NOUN fbem-503 93 18 potential potential NOUN fbem-503 93 19 and and CCONJ fbem-503 93 20 whether whether SCONJ fbem-503 93 21 it it PRON fbem-503 93 22 is be AUX fbem-503 93 23 a a DET fbem-503 93 24 central central ADJ fbem-503 93 25 enterprise enterprise NOUN fbem-503 93 26 , , PUNCT fbem-503 93 27 are be AUX fbem-503 93 28 selected select VERB fbem-503 93 29 as as ADP fbem-503 93 30 control control NOUN fbem-503 93 31 variables variable NOUN fbem-503 93 32 . . PUNCT fbem-503 94 1 3.3 3.3 NUM fbem-503 94 2 . . PUNCT fbem-503 95 1 data datum NOUN fbem-503 95 2 source source NOUN fbem-503 95 3 and and CCONJ fbem-503 95 4 processing process VERB fbem-503 95 5 the the DET fbem-503 95 6 research research NOUN fbem-503 95 7 of of ADP fbem-503 95 8 this this DET fbem-503 95 9 paper paper NOUN fbem-503 95 10 takes take VERB fbem-503 95 11 the the DET fbem-503 95 12 directory directory NOUN fbem-503 95 13 of of ADP fbem-503 95 14 overseas overseas ADJ fbem-503 95 15 investment investment NOUN fbem-503 95 16 enterprises enterprise NOUN fbem-503 95 17 ( ( PUNCT fbem-503 95 18 institutions institution NOUN fbem-503 95 19 ) ) PUNCT fbem-503 95 20 provided provide VERB fbem-503 95 21 by by ADP fbem-503 95 22 the the DET fbem-503 95 23 ministry ministry PROPN fbem-503 95 24 of of ADP fbem-503 95 25 commerce commerce PROPN fbem-503 95 26 of of ADP fbem-503 95 27 china china PROPN fbem-503 95 28 as as ADP fbem-503 95 29 the the DET fbem-503 95 30 main main ADJ fbem-503 95 31 data datum NOUN fbem-503 95 32 source source NOUN fbem-503 95 33 . . PUNCT fbem-503 96 1 this this DET fbem-503 96 2 document document NOUN fbem-503 96 3 records record VERB fbem-503 96 4 all all DET fbem-503 96 5 overseas overseas ADJ fbem-503 96 6 investment investment NOUN fbem-503 96 7 practices practice NOUN fbem-503 96 8 of of ADP fbem-503 96 9 chinese chinese ADJ fbem-503 96 10 enterprises enterprise NOUN fbem-503 96 11 since since SCONJ fbem-503 96 12 the the DET fbem-503 96 13 beginning beginning NOUN fbem-503 96 14 of of ADP fbem-503 96 15 their their PRON fbem-503 96 16 records record NOUN fbem-503 96 17 in in ADP fbem-503 96 18 an an DET fbem-503 96 19 approved approve VERB fbem-503 96 20 way way NOUN fbem-503 96 21 , , PUNCT fbem-503 96 22 including include VERB fbem-503 96 23 key key ADJ fbem-503 96 24 information information NOUN fbem-503 96 25 such such ADJ fbem-503 96 26 as as ADP fbem-503 96 27 investment investment NOUN fbem-503 96 28 time time NOUN fbem-503 96 29 and and CCONJ fbem-503 96 30 investment investment NOUN fbem-503 96 31 subjects subject NOUN fbem-503 96 32 . . PUNCT fbem-503 97 1 however however ADV fbem-503 97 2 , , PUNCT fbem-503 97 3 after after ADP fbem-503 97 4 2015 2015 NUM fbem-503 97 5 , , PUNCT fbem-503 97 6 the the DET fbem-503 97 7 approval approval NOUN fbem-503 97 8 system system NOUN fbem-503 97 9 was be AUX fbem-503 97 10 changed change VERB fbem-503 97 11 to to ADP fbem-503 97 12 the the DET fbem-503 97 13 record record NOUN fbem-503 97 14 system system NOUN fbem-503 97 15 , , PUNCT fbem-503 97 16 and and CCONJ fbem-503 97 17 the the DET fbem-503 97 18 ministry ministry PROPN fbem-503 97 19 of of ADP fbem-503 97 20 commerce commerce PROPN fbem-503 97 21 did do AUX fbem-503 97 22 not not PART fbem-503 97 23 publish publish VERB fbem-503 97 24 the the DET fbem-503 97 25 record record NOUN fbem-503 97 26 time time NOUN fbem-503 97 27 and and CCONJ fbem-503 97 28 other other ADJ fbem-503 97 29 information information NOUN fbem-503 97 30 . . PUNCT fbem-503 98 1 therefore therefore ADV fbem-503 98 2 , , PUNCT fbem-503 98 3 the the DET fbem-503 98 4 research research NOUN fbem-503 98 5 sample sample NOUN fbem-503 98 6 of of ADP fbem-503 98 7 this this DET fbem-503 98 8 paper paper NOUN fbem-503 98 9 is be AUX fbem-503 98 10 the the DET fbem-503 98 11 data datum NOUN fbem-503 98 12 from from ADP fbem-503 98 13 1983 1983 NUM fbem-503 98 14 to to ADP fbem-503 98 15 2015 2015 NUM fbem-503 98 16 . . PUNCT fbem-503 99 1 as as SCONJ fbem-503 99 2 this this DET fbem-503 99 3 research research NOUN fbem-503 99 4 focuses focus VERB fbem-503 99 5 on on ADP fbem-503 99 6 the the DET fbem-503 99 7 continuous continuous ADJ fbem-503 99 8 investment investment NOUN fbem-503 99 9 behavior behavior NOUN fbem-503 99 10 of of ADP fbem-503 99 11 chinese chinese ADJ fbem-503 99 12 enterprises enterprise NOUN fbem-503 99 13 , , PUNCT fbem-503 99 14 the the DET fbem-503 99 15 enterprises enterprise NOUN fbem-503 99 16 with with ADP fbem-503 99 17 only only ADV fbem-503 99 18 one one NUM fbem-503 99 19 investment investment NOUN fbem-503 99 20 behavior behavior NOUN fbem-503 99 21 are be AUX fbem-503 99 22 excluded exclude VERB fbem-503 99 23 from from ADP fbem-503 99 24 the the DET fbem-503 99 25 research research NOUN fbem-503 99 26 sample sample NOUN fbem-503 99 27 . . PUNCT fbem-503 100 1 among among ADP fbem-503 100 2 the the DET fbem-503 100 3 investment investment NOUN fbem-503 100 4 destinations destination NOUN fbem-503 100 5 , , PUNCT fbem-503 100 6 the the DET fbem-503 100 7 investment investment NOUN fbem-503 100 8 in in ADP fbem-503 100 9 cayman cayman PROPN fbem-503 100 10 islands islands PROPN fbem-503 100 11 , , PUNCT fbem-503 100 12 virgin virgin PROPN fbem-503 100 13 islands island NOUN fbem-503 100 14 and and CCONJ fbem-503 100 15 other other ADJ fbem-503 100 16 places place NOUN fbem-503 100 17 often often ADV fbem-503 100 18 takes take VERB fbem-503 100 19 tax tax NOUN fbem-503 100 20 avoidance avoidance NOUN fbem-503 100 21 as as ADP fbem-503 100 22 the the DET fbem-503 100 23 core core NOUN fbem-503 100 24 goal goal NOUN fbem-503 100 25 , , PUNCT fbem-503 100 26 so so CCONJ fbem-503 100 27 the the DET fbem-503 100 28 investment investment NOUN fbem-503 100 29 in in ADP fbem-503 100 30 cayman cayman PROPN fbem-503 100 31 islands islands PROPN fbem-503 100 32 , , PUNCT fbem-503 100 33 virgin virgin PROPN fbem-503 100 34 islands island NOUN fbem-503 100 35 and and CCONJ fbem-503 100 36 other other ADJ fbem-503 100 37 tax tax NOUN fbem-503 100 38 havens haven NOUN fbem-503 100 39 is be AUX fbem-503 100 40 excluded exclude VERB fbem-503 100 41 from from ADP fbem-503 100 42 the the DET fbem-503 100 43 sample sample NOUN fbem-503 100 44 . . PUNCT fbem-503 101 1 some some DET fbem-503 101 2 host host NOUN fbem-503 101 3 countries country NOUN fbem-503 101 4 are be AUX fbem-503 101 5 relatively relatively ADV fbem-503 101 6 special special ADJ fbem-503 101 7 countries country NOUN fbem-503 101 8 , , PUNCT fbem-503 101 9 many many ADJ fbem-503 101 10 data datum NOUN fbem-503 101 11 is be AUX fbem-503 101 12 not not PART fbem-503 101 13 perfect perfect ADJ fbem-503 101 14 , , PUNCT fbem-503 101 15 such such ADJ fbem-503 101 16 as as ADP fbem-503 101 17 afghanistan afghanistan PROPN fbem-503 101 18 , , PUNCT fbem-503 101 19 iran iran PROPN fbem-503 101 20 , , PUNCT fbem-503 101 21 so so ADV fbem-503 101 22 they they PRON fbem-503 101 23 are be AUX fbem-503 101 24 excluded exclude VERB fbem-503 101 25 . . PUNCT fbem-503 102 1 finally finally ADV fbem-503 102 2 , , PUNCT fbem-503 102 3 12094 12094 NUM fbem-503 102 4 pieces piece NOUN fbem-503 102 5 of of ADP fbem-503 102 6 investment investment NOUN fbem-503 102 7 data datum NOUN fbem-503 102 8 were be AUX fbem-503 102 9 obtained obtain VERB fbem-503 102 10 , , PUNCT fbem-503 102 11 involving involve VERB fbem-503 102 12 3602 3602 NUM fbem-503 102 13 enterprises enterprise NOUN fbem-503 102 14 , , PUNCT fbem-503 102 15 covering cover VERB fbem-503 102 16 154 154 NUM fbem-503 102 17 61 61 NUM fbem-503 102 18 countries country NOUN fbem-503 102 19 ( ( PUNCT fbem-503 102 20 regions region NOUN fbem-503 102 21 ) ) PUNCT fbem-503 102 22 , , PUNCT fbem-503 102 23 with with ADP fbem-503 102 24 an an DET fbem-503 102 25 average average NOUN fbem-503 102 26 of of ADP fbem-503 102 27 3.36 3.36 NUM fbem-503 102 28 times time NOUN fbem-503 102 29 of of ADP fbem-503 102 30 investment investment NOUN fbem-503 102 31 by by ADP fbem-503 102 32 one one NUM fbem-503 102 33 enterprise enterprise NOUN fbem-503 102 34 . . PUNCT fbem-503 103 1 table table NOUN fbem-503 103 2 1 1 NUM fbem-503 103 3 . . PUNCT fbem-503 104 1 variable variable ADJ fbem-503 104 2 description description NOUN fbem-503 104 3 the the DET fbem-503 104 4 variable variable ADJ fbem-503 104 5 name name VERB fbem-503 104 6 the the DET fbem-503 104 7 data datum NOUN fbem-503 104 8 source source NOUN fbem-503 104 9 variable variable ADJ fbem-503 104 10 to to PART fbem-503 104 11 measure measure VERB fbem-503 104 12 market market NOUN fbem-503 104 13 entry entry NOUN fbem-503 104 14 order order NOUN fbem-503 104 15 the the DET fbem-503 104 16 ministry ministry PROPN fbem-503 104 17 of of ADP fbem-503 104 18 commerce commerce PROPN fbem-503 104 19 the the DET fbem-503 104 20 list list NOUN fbem-503 104 21 of of ADP fbem-503 104 22 overseas overseas ADJ fbem-503 104 23 investment investment NOUN fbem-503 104 24 enterprises enterprise NOUN fbem-503 104 25 ( ( PUNCT fbem-503 104 26 institutions institution NOUN fbem-503 104 27 ) ) PUNCT fbem-503 104 28 published publish VERB fbem-503 104 29 by by ADP fbem-503 104 30 the the DET fbem-503 104 31 ministry ministry PROPN fbem-503 104 32 of of ADP fbem-503 104 33 commerce commerce PROPN fbem-503 104 34 shall shall AUX fbem-503 104 35 be be AUX fbem-503 104 36 taken take VERB fbem-503 104 37 as as ADP fbem-503 104 38 the the DET fbem-503 104 39 basis basis NOUN fbem-503 104 40 of of ADP fbem-503 104 41 the the DET fbem-503 104 42 approval approval NOUN fbem-503 104 43 date date NOUN fbem-503 104 44 of of ADP fbem-503 104 45 investment investment NOUN fbem-503 104 46 activities activity NOUN fbem-503 104 47 recorded record VERB fbem-503 104 48 in in ADP fbem-503 104 49 the the DET fbem-503 104 50 list list NOUN fbem-503 104 51 of of ADP fbem-503 104 52 overseas overseas ADJ fbem-503 104 53 investment investment NOUN fbem-503 104 54 enterprises enterprise NOUN fbem-503 104 55 ( ( PUNCT fbem-503 104 56 institutions institution NOUN fbem-503 104 57 ) ) PUNCT fbem-503 104 58 published publish VERB fbem-503 104 59 by by ADP fbem-503 104 60 the the DET fbem-503 104 61 ministry ministry PROPN fbem-503 104 62 of of ADP fbem-503 104 63 commerce commerce PROPN fbem-503 104 64 . . PUNCT fbem-503 105 1 the the DET fbem-503 105 2 first first ADJ fbem-503 105 3 overseas overseas ADJ fbem-503 105 4 investment investment NOUN fbem-503 105 5 shall shall AUX fbem-503 105 6 be be AUX fbem-503 105 7 counted count VERB fbem-503 105 8 1 1 NUM fbem-503 105 9 , , PUNCT fbem-503 105 10 the the DET fbem-503 105 11 second second ADJ fbem-503 105 12 overseas overseas ADJ fbem-503 105 13 investment investment NOUN fbem-503 105 14 shall shall AUX fbem-503 105 15 be be AUX fbem-503 105 16 counted count VERB fbem-503 105 17 2 2 NUM fbem-503 105 18 , , PUNCT fbem-503 105 19 and and CCONJ fbem-503 105 20 so so ADV fbem-503 105 21 on on ADP fbem-503 105 22 the the DET fbem-503 105 23 size size NOUN fbem-503 105 24 of of ADP fbem-503 105 25 the the DET fbem-503 105 26 market market NOUN fbem-503 105 27 the the DET fbem-503 105 28 world world NOUN fbem-503 105 29 bank bank PROPN fbem-503 105 30 measured measure VERB fbem-503 105 31 in in ADP fbem-503 105 32 total total ADJ fbem-503 105 33 gdp gdp NOUN fbem-503 105 34 in in ADP fbem-503 105 35 current current ADJ fbem-503 105 36 dollar dollar NOUN fbem-503 105 37 terms term NOUN fbem-503 105 38 geographic geographic ADJ fbem-503 105 39 distance distance NOUN fbem-503 105 40 cep cep PROPN fbem-503 105 41 ii ii PROPN fbem-503 105 42 database database NOUN fbem-503 105 43 the the DET fbem-503 105 44 weighted weighted ADJ fbem-503 105 45 calculation calculation NOUN fbem-503 105 46 is be AUX fbem-503 105 47 based base VERB fbem-503 105 48 on on ADP fbem-503 105 49 the the DET fbem-503 105 50 distance distance NOUN fbem-503 105 51 of of ADP fbem-503 105 52 important important ADJ fbem-503 105 53 cities city NOUN fbem-503 105 54 between between ADP fbem-503 105 55 the the DET fbem-503 105 56 two two NUM fbem-503 105 57 countries country NOUN fbem-503 105 58 cultural cultural ADJ fbem-503 105 59 distance distance NOUN fbem-503 105 60 hofstede hofstede NOUN fbem-503 105 61 website website NOUN fbem-503 105 62 hofstede hofstede NOUN fbem-503 105 63 weighted weight VERB fbem-503 105 64 the the DET fbem-503 105 65 six six NUM fbem-503 105 66 dimensions dimension NOUN fbem-503 105 67 of of ADP fbem-503 105 68 cultural cultural ADJ fbem-503 105 69 distance distance NOUN fbem-503 105 70 system system NOUN fbem-503 105 71 of of ADP fbem-503 105 72 distance distance NOUN fbem-503 105 73 icrg icrg ADJ fbem-503 105 74 database database NOUN fbem-503 105 75 the the DET fbem-503 105 76 seven seven NUM fbem-503 105 77 dimensions dimension NOUN fbem-503 105 78 of of ADP fbem-503 105 79 international international ADJ fbem-503 105 80 guidelines guideline NOUN fbem-503 105 81 on on ADP fbem-503 105 82 country country NOUN fbem-503 105 83 risk risk NOUN fbem-503 105 84 ( ( PUNCT fbem-503 105 85 icrg icrg NOUN fbem-503 105 86 ) ) PUNCT fbem-503 105 87 were be AUX fbem-503 105 88 used use VERB fbem-503 105 89 for for ADP fbem-503 105 90 weighting weight VERB fbem-503 105 91 calculation calculation NOUN fbem-503 105 92 international international ADJ fbem-503 105 93 experience experience NOUN fbem-503 105 94 csmar csmar PROPN fbem-503 105 95 database database PROPN fbem-503 105 96 the the DET fbem-503 105 97 international international ADJ fbem-503 105 98 experience experience NOUN fbem-503 105 99 of of ADP fbem-503 105 100 the the DET fbem-503 105 101 enterprise enterprise NOUN fbem-503 105 102 is be AUX fbem-503 105 103 measured measure VERB fbem-503 105 104 by by ADP fbem-503 105 105 the the DET fbem-503 105 106 number number NOUN fbem-503 105 107 of of ADP fbem-503 105 108 subsidiaries subsidiary NOUN fbem-503 105 109 operating operate VERB fbem-503 105 110 overseas overseas ADV fbem-503 105 111 and and CCONJ fbem-503 105 112 the the DET fbem-503 105 113 duration duration NOUN fbem-503 105 114 of of ADP fbem-503 105 115 continuous continuous ADJ fbem-503 105 116 operation operation NOUN fbem-503 105 117 control control NOUN fbem-503 105 118 variables variable VERB fbem-503 105 119 the the DET fbem-503 105 120 world world PROPN fbem-503 105 121 bank bank NOUN fbem-503 105 122 population population NOUN fbem-503 105 123 size size NOUN fbem-503 105 124 , , PUNCT fbem-503 105 125 gdp gdp NOUN fbem-503 105 126 growth growth NOUN fbem-503 105 127 is be AUX fbem-503 105 128 it it PRON fbem-503 105 129 a a DET fbem-503 105 130 central central ADJ fbem-503 105 131 enterprise enterprise NOUN fbem-503 105 132 the the DET fbem-503 105 133 ministry ministry PROPN fbem-503 105 134 of of ADP fbem-503 105 135 commerce commerce PROPN fbem-503 105 136 according accord VERB fbem-503 105 137 to to ADP fbem-503 105 138 the the DET fbem-503 105 139 definition definition NOUN fbem-503 105 140 in in ADP fbem-503 105 141 the the DET fbem-503 105 142 directory directory NOUN fbem-503 105 143 , , PUNCT fbem-503 105 144 enterprises enterprise NOUN fbem-503 105 145 of of ADP fbem-503 105 146 the the DET fbem-503 105 147 central central ADJ fbem-503 105 148 government government NOUN fbem-503 105 149 and and CCONJ fbem-503 105 150 ministry ministry PROPN fbem-503 105 151 of of ADP fbem-503 105 152 commerce commerce PROPN fbem-503 105 153 take take VERB fbem-503 105 154 1 1 NUM fbem-503 105 155 , , PUNCT fbem-503 105 156 and and CCONJ fbem-503 105 157 others other NOUN fbem-503 105 158 take take VERB fbem-503 105 159 0 0 NUM fbem-503 105 160 4 4 NUM fbem-503 105 161 . . PUNCT fbem-503 106 1 empirical empirical ADJ fbem-503 106 2 results result NOUN fbem-503 106 3 analysis analysis NOUN fbem-503 106 4 4.1 4.1 NUM fbem-503 106 5 . . PUNCT fbem-503 107 1 descriptive descriptive ADJ fbem-503 107 2 statistics statistic NOUN fbem-503 107 3 the the DET fbem-503 107 4 period period NOUN fbem-503 107 5 from from ADP fbem-503 107 6 1983 1983 NUM fbem-503 107 7 to to ADP fbem-503 107 8 2015 2015 NUM fbem-503 107 9 spans span NOUN fbem-503 107 10 32 32 NUM fbem-503 107 11 years year NOUN fbem-503 107 12 and and CCONJ fbem-503 107 13 is be AUX fbem-503 107 14 divided divide VERB fbem-503 107 15 into into ADP fbem-503 107 16 two two NUM fbem-503 107 17 periods period NOUN fbem-503 107 18 from from ADP fbem-503 107 19 1983 1983 NUM fbem-503 107 20 to to ADP fbem-503 107 21 2007 2007 NUM fbem-503 107 22 and and CCONJ fbem-503 107 23 from from ADP fbem-503 107 24 2008 2008 NUM fbem-503 107 25 to to ADP fbem-503 107 26 2015 2015 NUM fbem-503 107 27 . . PUNCT fbem-503 108 1 during during ADP fbem-503 108 2 1983 1983 NUM fbem-503 108 3 - - SYM fbem-503 108 4 2007 2007 NUM fbem-503 108 5 , , PUNCT fbem-503 108 6 355 355 NUM fbem-503 108 7 enterprises enterprise NOUN fbem-503 108 8 completed complete VERB fbem-503 108 9 1453 1453 NUM fbem-503 108 10 overseas overseas ADJ fbem-503 108 11 investment investment NOUN fbem-503 108 12 activities activity NOUN fbem-503 108 13 in in ADP fbem-503 108 14 111 111 NUM fbem-503 108 15 countries country NOUN fbem-503 108 16 , , PUNCT fbem-503 108 17 with with ADP fbem-503 108 18 an an DET fbem-503 108 19 average average ADJ fbem-503 108 20 investment investment NOUN fbem-503 108 21 of of ADP fbem-503 108 22 4.09 4.09 NUM fbem-503 108 23 times time NOUN fbem-503 108 24 . . PUNCT fbem-503 109 1 during during ADP fbem-503 109 2 this this DET fbem-503 109 3 period period NOUN fbem-503 109 4 , , PUNCT fbem-503 109 5 only only ADV fbem-503 109 6 21 21 NUM fbem-503 109 7 central central ADJ fbem-503 109 8 enterprises enterprise NOUN fbem-503 109 9 completed complete VERB fbem-503 109 10 141 141 NUM fbem-503 109 11 overseas overseas ADJ fbem-503 109 12 investments investment NOUN fbem-503 109 13 , , PUNCT fbem-503 109 14 with with ADP fbem-503 109 15 an an DET fbem-503 109 16 average average NOUN fbem-503 109 17 of of ADP fbem-503 109 18 6.71 6.71 NUM fbem-503 109 19 times time NOUN fbem-503 109 20 . . PUNCT fbem-503 110 1 334 334 NUM fbem-503 110 2 private private ADJ fbem-503 110 3 enterprises enterprise NOUN fbem-503 110 4 made make VERB fbem-503 110 5 1,294 1,294 NUM fbem-503 110 6 overseas overseas ADJ fbem-503 110 7 investments investment NOUN fbem-503 110 8 , , PUNCT fbem-503 110 9 with with ADP fbem-503 110 10 an an DET fbem-503 110 11 average average NOUN fbem-503 110 12 of of ADP fbem-503 110 13 3.86 3.86 NUM fbem-503 110 14 from from ADP fbem-503 110 15 2008 2008 NUM fbem-503 110 16 to to ADP fbem-503 110 17 2015 2015 NUM fbem-503 110 18 , , PUNCT fbem-503 110 19 3,383 3,383 NUM fbem-503 110 20 enterprises enterprise NOUN fbem-503 110 21 completed complete VERB fbem-503 110 22 10,659 10,659 NUM fbem-503 110 23 overseas overseas ADJ fbem-503 110 24 investments investment NOUN fbem-503 110 25 in in ADP fbem-503 110 26 just just ADV fbem-503 110 27 seven seven NUM fbem-503 110 28 years year NOUN fbem-503 110 29 , , PUNCT fbem-503 110 30 with with ADP fbem-503 110 31 an an DET fbem-503 110 32 average average NOUN fbem-503 110 33 of of ADP fbem-503 110 34 3.15 3.15 NUM fbem-503 110 35 investments investment NOUN fbem-503 110 36 . . PUNCT fbem-503 111 1 among among ADP fbem-503 111 2 them they PRON fbem-503 111 3 , , PUNCT fbem-503 111 4 316 316 NUM fbem-503 111 5 state state NOUN fbem-503 111 6 - - PUNCT fbem-503 111 7 owned own VERB fbem-503 111 8 enterprises enterprise NOUN fbem-503 111 9 invested invest VERB fbem-503 111 10 2,136 2,136 NUM fbem-503 111 11 times time NOUN fbem-503 111 12 in in ADP fbem-503 111 13 137 137 NUM fbem-503 111 14 countries country NOUN fbem-503 111 15 and and CCONJ fbem-503 111 16 regions region NOUN fbem-503 111 17 , , PUNCT fbem-503 111 18 with with ADP fbem-503 111 19 an an DET fbem-503 111 20 average average NOUN fbem-503 111 21 of of ADP fbem-503 111 22 6.76 6.76 NUM fbem-503 111 23 times time NOUN fbem-503 111 24 . . PUNCT fbem-503 112 1 3,067 3,067 NUM fbem-503 112 2 private private ADJ fbem-503 112 3 enterprises enterprise NOUN fbem-503 112 4 invested invest VERB fbem-503 112 5 8,523 8,523 NUM fbem-503 112 6 times time NOUN fbem-503 112 7 in in ADP fbem-503 112 8 146 146 NUM fbem-503 112 9 countries country NOUN fbem-503 112 10 and and CCONJ fbem-503 112 11 regions region NOUN fbem-503 112 12 , , PUNCT fbem-503 112 13 with with ADP fbem-503 112 14 an an DET fbem-503 112 15 average average NOUN fbem-503 112 16 of of ADP fbem-503 112 17 2.78 2.78 NUM fbem-503 112 18 times time NOUN fbem-503 112 19 . . PUNCT fbem-503 113 1 table table NOUN fbem-503 113 2 2 2 NUM fbem-503 113 3 . . PUNCT fbem-503 113 4 descriptive descriptive ADJ fbem-503 113 5 statistics statistic NOUN fbem-503 113 6 of of ADP fbem-503 113 7 main main ADJ fbem-503 113 8 variables variable NOUN fbem-503 113 9 1983 1983 NUM fbem-503 113 10 - - SYM fbem-503 113 11 2015(the 2015(the NUM fbem-503 113 12 total total ADJ fbem-503 113 13 sample sample NOUN fbem-503 113 14 ) ) PUNCT fbem-503 113 15 all all DET fbem-503 113 16 the the DET fbem-503 113 17 samples sample NOUN fbem-503 113 18 state state NOUN fbem-503 113 19 corporation corporation NOUN fbem-503 113 20 number number NOUN fbem-503 113 21 of of ADP fbem-503 113 22 countries country NOUN fbem-503 113 23 ( ( PUNCT fbem-503 113 24 pcs pc NOUN fbem-503 113 25 ) ) PUNCT fbem-503 113 26 154 154 NUM fbem-503 113 27 137 137 NUM fbem-503 113 28 150 150 NUM fbem-503 113 29 number number NOUN fbem-503 113 30 of of ADP fbem-503 113 31 enterprises enterprise NOUN fbem-503 113 32 ( ( PUNCT fbem-503 113 33 pcs pc NOUN fbem-503 113 34 ) ) PUNCT fbem-503 113 35 3602 3602 NUM fbem-503 113 36 320 320 NUM fbem-503 113 37 3292 3292 NUM fbem-503 113 38 total total ADJ fbem-503 113 39 investment investment NOUN fbem-503 113 40 times time NOUN fbem-503 113 41 ( ( PUNCT fbem-503 113 42 times time NOUN fbem-503 113 43 ) ) PUNCT fbem-503 113 44 12094 12094 NUM fbem-503 113 45 2277 2277 NUM fbem-503 113 46 9817 9817 NUM fbem-503 113 47 the the DET fbem-503 113 48 average average ADJ fbem-503 113 49 number number NOUN fbem-503 113 50 of of ADP fbem-503 113 51 times time NOUN fbem-503 113 52 a a DET fbem-503 113 53 company company NOUN fbem-503 113 54 invests invest VERB fbem-503 113 55 3.36 3.36 NUM fbem-503 113 56 7.12 7.12 NUM fbem-503 113 57 2.98 2.98 NUM fbem-503 113 58 1983 1983 NUM fbem-503 113 59 - - SYM fbem-503 113 60 2007 2007 NUM fbem-503 113 61 2008 2008 NUM fbem-503 113 62 - - SYM fbem-503 113 63 2015 2015 NUM fbem-503 113 64 all all DET fbem-503 113 65 the the DET fbem-503 113 66 samples sample NOUN fbem-503 113 67 state state NOUN fbem-503 113 68 corporation corporation NOUN fbem-503 113 69 all all DET fbem-503 113 70 the the DET fbem-503 113 71 samples sample NOUN fbem-503 113 72 state state NOUN fbem-503 113 73 corporation corporation NOUN fbem-503 113 74 number number NOUN fbem-503 113 75 of of ADP fbem-503 113 76 countries country NOUN fbem-503 113 77 ( ( PUNCT fbem-503 113 78 pcs pc NOUN fbem-503 113 79 ) ) PUNCT fbem-503 113 80 111 111 NUM fbem-503 113 81 53 53 NUM fbem-503 113 82 103 103 NUM fbem-503 113 83 156 156 NUM fbem-503 113 84 137 137 NUM fbem-503 113 85 146 146 NUM fbem-503 113 86 number number NOUN fbem-503 113 87 of of ADP fbem-503 113 88 enterprises enterprise NOUN fbem-503 113 89 ( ( PUNCT fbem-503 113 90 pcs pc NOUN fbem-503 113 91 ) ) PUNCT fbem-503 113 92 355 355 NUM fbem-503 113 93 21 21 NUM fbem-503 113 94 334 334 NUM fbem-503 113 95 3383 3383 NUM fbem-503 113 96 316 316 NUM fbem-503 113 97 3067 3067 NUM fbem-503 113 98 total total ADJ fbem-503 113 99 investment investment NOUN fbem-503 113 100 times time NOUN fbem-503 113 101 ( ( PUNCT fbem-503 113 102 times time NOUN fbem-503 113 103 ) ) PUNCT fbem-503 113 104 1453 1453 NUM fbem-503 113 105 141 141 NUM fbem-503 113 106 1294 1294 NUM fbem-503 113 107 10659 10659 NUM fbem-503 113 108 2136 2136 NUM fbem-503 113 109 8523 8523 NUM fbem-503 113 110 total total ADJ fbem-503 113 111 investment investment NOUN fbem-503 113 112 times time NOUN fbem-503 113 113 ( ( PUNCT fbem-503 113 114 times time NOUN fbem-503 113 115 ) ) PUNCT fbem-503 113 116 4.09 4.09 NUM fbem-503 113 117 6.71 6.71 NUM fbem-503 113 118 3.86 3.86 NUM fbem-503 113 119 3.15 3.15 NUM fbem-503 113 120 6.76 6.76 NUM fbem-503 113 121 2.78 2.78 NUM fbem-503 113 122 note note NOUN fbem-503 113 123 : : PUNCT fbem-503 113 124 the the DET fbem-503 113 125 enterprises enterprise NOUN fbem-503 113 126 that that PRON fbem-503 113 127 only only ADV fbem-503 113 128 invested invest VERB fbem-503 113 129 once once ADV fbem-503 113 130 were be AUX fbem-503 113 131 excluded exclude VERB fbem-503 113 132 4.2 4.2 NUM fbem-503 113 133 . . PUNCT fbem-503 114 1 the the DET fbem-503 114 2 influence influence NOUN fbem-503 114 3 of of ADP fbem-503 114 4 market market NOUN fbem-503 114 5 distance distance NOUN fbem-503 114 6 on on ADP fbem-503 114 7 market market NOUN fbem-503 114 8 entry entry NOUN fbem-503 114 9 order order NOUN fbem-503 114 10 model model NOUN fbem-503 114 11 1 1 NUM fbem-503 114 12 , , PUNCT fbem-503 114 13 model model NOUN fbem-503 114 14 2 2 NUM fbem-503 114 15 and and CCONJ fbem-503 114 16 model model NOUN fbem-503 114 17 3 3 NUM fbem-503 114 18 use use VERB fbem-503 114 19 geographical geographical ADJ fbem-503 114 20 distance distance NOUN fbem-503 114 21 , , PUNCT fbem-503 114 22 cultural cultural ADJ fbem-503 114 23 distance distance NOUN fbem-503 114 24 and and CCONJ fbem-503 114 25 institutional institutional ADJ fbem-503 114 26 distance distance NOUN fbem-503 114 27 respectively respectively ADV fbem-503 114 28 to to PART fbem-503 114 29 measure measure VERB fbem-503 114 30 market market NOUN fbem-503 114 31 distance distance NOUN fbem-503 114 32 . . PUNCT fbem-503 115 1 the the DET fbem-503 115 2 empirical empirical ADJ fbem-503 115 3 results result NOUN fbem-503 115 4 are be AUX fbem-503 115 5 shown show VERB fbem-503 115 6 in in ADP fbem-503 115 7 the the DET fbem-503 115 8 table table NOUN fbem-503 115 9 below below ADV fbem-503 115 10 . . PUNCT fbem-503 116 1 the the DET fbem-503 116 2 sample sample NOUN fbem-503 116 3 numbers number NOUN fbem-503 116 4 of of ADP fbem-503 116 5 the the DET fbem-503 116 6 three three NUM fbem-503 116 7 models model NOUN fbem-503 116 8 were be AUX fbem-503 116 9 12094 12094 NUM fbem-503 116 10 , , PUNCT fbem-503 116 11 prob prob PROPN fbem-503 116 12 & & CCONJ fbem-503 116 13 gt gt PROPN fbem-503 116 14 ; ; PUNCT fbem-503 116 15 chi2 chi2 NOUN fbem-503 116 16 values value NOUN fbem-503 116 17 were be AUX fbem-503 116 18 all all ADV fbem-503 116 19 0.000 0.000 NUM fbem-503 116 20 , , PUNCT fbem-503 116 21 indicating indicate VERB fbem-503 116 22 that that SCONJ fbem-503 116 23 the the DET fbem-503 116 24 three three NUM fbem-503 116 25 models model NOUN fbem-503 116 26 fit fit VERB fbem-503 116 27 well well ADV fbem-503 116 28 . . PUNCT fbem-503 117 1 the the DET fbem-503 117 2 coefficient coefficient NOUN fbem-503 117 3 p p NOUN fbem-503 117 4 value value NOUN fbem-503 117 5 of of ADP fbem-503 117 6 the the DET fbem-503 117 7 variable variable ADJ fbem-503 117 8 market market NOUN fbem-503 117 9 size size NOUN fbem-503 117 10 in in ADP fbem-503 117 11 model model NOUN fbem-503 117 12 1 1 NUM fbem-503 117 13 , , PUNCT fbem-503 117 14 model model NOUN fbem-503 117 15 2 2 NUM fbem-503 117 16 and and CCONJ fbem-503 117 17 model model NOUN fbem-503 117 18 3 3 NUM fbem-503 117 19 is be AUX fbem-503 117 20 all all ADV fbem-503 117 21 less less ADJ fbem-503 117 22 than than ADP fbem-503 117 23 0.01 0.01 NUM fbem-503 117 24 , , PUNCT fbem-503 117 25 which which PRON fbem-503 117 26 is be AUX fbem-503 117 27 significant significant ADJ fbem-503 117 28 at at ADP fbem-503 117 29 1 1 NUM fbem-503 117 30 % % NOUN fbem-503 117 31 level level NOUN fbem-503 117 32 . . PUNCT fbem-503 118 1 there there PRON fbem-503 118 2 is be VERB fbem-503 118 3 a a DET fbem-503 118 4 significant significant ADJ fbem-503 118 5 relationship relationship NOUN fbem-503 118 6 between between ADP fbem-503 118 7 market market NOUN fbem-503 118 8 size size NOUN fbem-503 118 9 and and CCONJ fbem-503 118 10 market market NOUN fbem-503 118 11 entry entry NOUN fbem-503 118 12 order order NOUN fbem-503 118 13 . . PUNCT fbem-503 119 1 if if SCONJ fbem-503 119 2 the the DET fbem-503 119 3 coefficients coefficient NOUN fbem-503 119 4 are be AUX fbem-503 119 5 all all ADV fbem-503 119 6 negative negative ADJ fbem-503 119 7 , , PUNCT fbem-503 119 8 there there PRON fbem-503 119 9 is be VERB fbem-503 119 10 a a DET fbem-503 119 11 negative negative ADJ fbem-503 119 12 relationship relationship NOUN fbem-503 119 13 between between ADP fbem-503 119 14 market market NOUN fbem-503 119 15 entry entry NOUN fbem-503 119 16 order order NOUN fbem-503 119 17 and and CCONJ fbem-503 119 18 scale scale NOUN fbem-503 119 19 . . PUNCT fbem-503 120 1 the the PRON fbem-503 120 2 larger large ADJ fbem-503 120 3 the the DET fbem-503 120 4 scale scale NOUN fbem-503 120 5 , , PUNCT fbem-503 120 6 the the PRON fbem-503 120 7 smaller small ADJ fbem-503 120 8 the the DET fbem-503 120 9 order order NOUN fbem-503 120 10 . . PUNCT fbem-503 121 1 chinese chinese ADJ fbem-503 121 2 enterprises enterprise NOUN fbem-503 121 3 will will AUX fbem-503 121 4 choose choose VERB fbem-503 121 5 to to PART fbem-503 121 6 enter enter VERB fbem-503 121 7 large large ADJ fbem-503 121 8 - - PUNCT fbem-503 121 9 scale scale NOUN fbem-503 121 10 countries country NOUN fbem-503 121 11 and and CCONJ fbem-503 121 12 regions region NOUN fbem-503 121 13 at at ADP fbem-503 121 14 the the DET fbem-503 121 15 initial initial ADJ fbem-503 121 16 stage stage NOUN fbem-503 121 17 of of ADP fbem-503 121 18 investment investment NOUN fbem-503 121 19 , , PUNCT fbem-503 121 20 h1 h1 PROPN fbem-503 121 21 has have AUX fbem-503 121 22 been be AUX fbem-503 121 23 verified verify VERB fbem-503 121 24 . . PUNCT fbem-503 122 1 model model NOUN fbem-503 122 2 1 1 NUM fbem-503 122 3 and and CCONJ fbem-503 122 4 model model NOUN fbem-503 122 5 2 2 NUM fbem-503 122 6 , , PUNCT fbem-503 122 7 the the DET fbem-503 122 8 geographical geographical ADJ fbem-503 122 9 distance distance NOUN fbem-503 122 10 and and CCONJ fbem-503 122 11 cultural cultural ADJ fbem-503 122 12 distance distance NOUN fbem-503 122 13 coefficient coefficient NOUN fbem-503 122 14 are be AUX fbem-503 122 15 1 1 NUM fbem-503 122 16 % % NOUN fbem-503 122 17 significance significance NOUN fbem-503 122 18 level level NOUN fbem-503 122 19 , , PUNCT fbem-503 122 20 and and CCONJ fbem-503 122 21 is be AUX fbem-503 122 22 positive positive ADJ fbem-503 122 23 , , PUNCT fbem-503 122 24 that that DET fbem-503 122 25 geographic geographic ADJ fbem-503 122 26 distance distance NOUN fbem-503 122 27 , , PUNCT fbem-503 122 28 cultural cultural ADJ fbem-503 122 29 distance distance NOUN fbem-503 122 30 and and CCONJ fbem-503 122 31 in in ADP fbem-503 122 32 order order NOUN fbem-503 122 33 to to PART fbem-503 122 34 present present VERB fbem-503 122 35 positive positive ADJ fbem-503 122 36 correlation correlation NOUN fbem-503 122 37 , , PUNCT fbem-503 122 38 two two NUM fbem-503 122 39 distance distance NOUN fbem-503 122 40 is be AUX fbem-503 122 41 smaller small ADJ fbem-503 122 42 , , PUNCT fbem-503 122 43 the the DET fbem-503 122 44 smaller small ADJ fbem-503 122 45 order order NOUN fbem-503 122 46 also also ADV fbem-503 122 47 , , PUNCT fbem-503 122 48 namely namely ADV fbem-503 122 49 enterprise enterprise NOUN fbem-503 122 50 priority priority NOUN fbem-503 122 51 into into ADP fbem-503 122 52 the the DET fbem-503 122 53 geographical geographical ADJ fbem-503 122 54 distance distance NOUN fbem-503 122 55 and and CCONJ fbem-503 122 56 62 62 NUM fbem-503 122 57 cultural cultural ADJ fbem-503 122 58 distance distance NOUN fbem-503 122 59 smaller small ADJ fbem-503 122 60 markets market NOUN fbem-503 122 61 , , PUNCT fbem-503 122 62 h2 h2 NOUN fbem-503 122 63 and and CCONJ fbem-503 122 64 h3 h3 NOUN fbem-503 122 65 . . PUNCT fbem-503 123 1 in in ADP fbem-503 123 2 model model NOUN fbem-503 123 3 3 3 NUM fbem-503 123 4 , , PUNCT fbem-503 123 5 the the DET fbem-503 123 6 coefficient coefficient NOUN fbem-503 123 7 of of ADP fbem-503 123 8 institutional institutional ADJ fbem-503 123 9 distance distance NOUN fbem-503 123 10 is be AUX fbem-503 123 11 significant significant ADJ fbem-503 123 12 at at ADP fbem-503 123 13 the the DET fbem-503 123 14 level level NOUN fbem-503 123 15 of of ADP fbem-503 123 16 1 1 NUM fbem-503 123 17 % % NOUN fbem-503 123 18 , , PUNCT fbem-503 123 19 but but CCONJ fbem-503 123 20 it it PRON fbem-503 123 21 is be AUX fbem-503 123 22 indeed indeed ADV fbem-503 123 23 negative negative ADJ fbem-503 123 24 , , PUNCT fbem-503 123 25 indicating indicate VERB fbem-503 123 26 that that SCONJ fbem-503 123 27 institutional institutional ADJ fbem-503 123 28 distance distance NOUN fbem-503 123 29 has have VERB fbem-503 123 30 a a DET fbem-503 123 31 negative negative ADJ fbem-503 123 32 relationship relationship NOUN fbem-503 123 33 with with ADP fbem-503 123 34 market market NOUN fbem-503 123 35 entry entry NOUN fbem-503 123 36 order order NOUN fbem-503 123 37 . . PUNCT fbem-503 124 1 the the PRON fbem-503 124 2 larger large ADJ fbem-503 124 3 the the DET fbem-503 124 4 institutional institutional ADJ fbem-503 124 5 distance distance NOUN fbem-503 124 6 is be AUX fbem-503 124 7 , , PUNCT fbem-503 124 8 the the PRON fbem-503 124 9 smaller small ADJ fbem-503 124 10 the the DET fbem-503 124 11 entry entry NOUN fbem-503 124 12 order order NOUN fbem-503 124 13 is be AUX fbem-503 124 14 . . PUNCT fbem-503 125 1 in in ADP fbem-503 125 2 other other ADJ fbem-503 125 3 words word NOUN fbem-503 125 4 , , PUNCT fbem-503 125 5 enterprises enterprise NOUN fbem-503 125 6 have have VERB fbem-503 125 7 the the DET fbem-503 125 8 priority priority NOUN fbem-503 125 9 to to PART fbem-503 125 10 enter enter VERB fbem-503 125 11 the the DET fbem-503 125 12 market market NOUN fbem-503 125 13 with with ADP fbem-503 125 14 a a DET fbem-503 125 15 larger large ADJ fbem-503 125 16 institutional institutional ADJ fbem-503 125 17 distance distance NOUN fbem-503 125 18 , , PUNCT fbem-503 125 19 which which PRON fbem-503 125 20 is be AUX fbem-503 125 21 inconsistent inconsistent ADJ fbem-503 125 22 with with ADP fbem-503 125 23 h4 h4 PROPN fbem-503 125 24 . . PUNCT fbem-503 126 1 the the DET fbem-503 126 2 analysis analysis NOUN fbem-503 126 3 shows show VERB fbem-503 126 4 that that SCONJ fbem-503 126 5 there there PRON fbem-503 126 6 is be VERB fbem-503 126 7 a a DET fbem-503 126 8 large large ADJ fbem-503 126 9 institutional institutional ADJ fbem-503 126 10 distance distance NOUN fbem-503 126 11 between between ADP fbem-503 126 12 china china PROPN fbem-503 126 13 and and CCONJ fbem-503 126 14 europe europe PROPN fbem-503 126 15 , , PUNCT fbem-503 126 16 the the DET fbem-503 126 17 united united PROPN fbem-503 126 18 states states PROPN fbem-503 126 19 , , PUNCT fbem-503 126 20 russia russia PROPN fbem-503 126 21 and and CCONJ fbem-503 126 22 other other ADJ fbem-503 126 23 markets market NOUN fbem-503 126 24 with with ADP fbem-503 126 25 a a DET fbem-503 126 26 large large ADJ fbem-503 126 27 market market NOUN fbem-503 126 28 size size NOUN fbem-503 126 29 . . PUNCT fbem-503 127 1 this this DET fbem-503 127 2 result result NOUN fbem-503 127 3 will will AUX fbem-503 127 4 occur occur VERB fbem-503 127 5 on on ADP fbem-503 127 6 the the DET fbem-503 127 7 premise premise NOUN fbem-503 127 8 that that SCONJ fbem-503 127 9 chinese chinese ADJ fbem-503 127 10 enterprises enterprise NOUN fbem-503 127 11 take take VERB fbem-503 127 12 the the DET fbem-503 127 13 market market NOUN fbem-503 127 14 size size NOUN fbem-503 127 15 as as ADP fbem-503 127 16 the the DET fbem-503 127 17 investment investment NOUN fbem-503 127 18 target target NOUN fbem-503 127 19 . . PUNCT fbem-503 128 1 in in ADP fbem-503 128 2 addition addition NOUN fbem-503 128 3 , , PUNCT fbem-503 128 4 in in ADP fbem-503 128 5 the the DET fbem-503 128 6 ofdi ofdi NOUN fbem-503 128 7 of of ADP fbem-503 128 8 chinese chinese ADJ fbem-503 128 9 enterprises enterprise NOUN fbem-503 128 10 , , PUNCT fbem-503 128 11 diversified diversified ADJ fbem-503 128 12 operating operating NOUN fbem-503 128 13 environment environment NOUN fbem-503 128 14 is be AUX fbem-503 128 15 attractive attractive ADJ fbem-503 128 16 to to ADP fbem-503 128 17 some some DET fbem-503 128 18 extent extent NOUN fbem-503 128 19 , , PUNCT fbem-503 128 20 which which PRON fbem-503 128 21 is be AUX fbem-503 128 22 also also ADV fbem-503 128 23 one one NUM fbem-503 128 24 of of ADP fbem-503 128 25 the the DET fbem-503 128 26 reasons reason NOUN fbem-503 128 27 for for ADP fbem-503 128 28 the the DET fbem-503 128 29 negative negative ADJ fbem-503 128 30 relationship relationship NOUN fbem-503 128 31 between between ADP fbem-503 128 32 institutional institutional ADJ fbem-503 128 33 distance distance NOUN fbem-503 128 34 and and CCONJ fbem-503 128 35 market market NOUN fbem-503 128 36 entry entry NOUN fbem-503 128 37 order order NOUN fbem-503 129 1 [ [ X fbem-503 129 2 77 77 NUM fbem-503 129 3 ] ] PUNCT fbem-503 129 4 . . PUNCT fbem-503 130 1 according accord VERB fbem-503 130 2 to to ADP fbem-503 130 3 the the DET fbem-503 130 4 full full ADJ fbem-503 130 5 - - PUNCT fbem-503 130 6 sample sample NOUN fbem-503 130 7 empirical empirical ADJ fbem-503 130 8 model model NOUN fbem-503 130 9 , , PUNCT fbem-503 130 10 chinese chinese ADJ fbem-503 130 11 enterprises enterprise NOUN fbem-503 130 12 prefer prefer VERB fbem-503 130 13 to to PART fbem-503 130 14 invest invest VERB fbem-503 130 15 in in ADP fbem-503 130 16 big big ADJ fbem-503 130 17 markets market NOUN fbem-503 130 18 and and CCONJ fbem-503 130 19 enter enter VERB fbem-503 130 20 countries country NOUN fbem-503 130 21 with with ADP fbem-503 130 22 close close ADJ fbem-503 130 23 geographical geographical ADJ fbem-503 130 24 and and CCONJ fbem-503 130 25 cultural cultural ADJ fbem-503 130 26 distance distance NOUN fbem-503 130 27 , , PUNCT fbem-503 130 28 but but CCONJ fbem-503 130 29 countries country NOUN fbem-503 130 30 with with ADP fbem-503 130 31 large large ADJ fbem-503 130 32 institutional institutional ADJ fbem-503 130 33 distance distance NOUN fbem-503 130 34 . . PUNCT fbem-503 131 1 table table NOUN fbem-503 131 2 3 3 NUM fbem-503 131 3 . . PUNCT fbem-503 132 1 the the DET fbem-503 132 2 influence influence NOUN fbem-503 132 3 of of ADP fbem-503 132 4 market market NOUN fbem-503 132 5 distance distance NOUN fbem-503 132 6 on on ADP fbem-503 132 7 market market NOUN fbem-503 132 8 entry entry NOUN fbem-503 132 9 order order NOUN fbem-503 132 10 variable variable ADJ fbem-503 132 11 model model NOUN fbem-503 132 12 1 1 NUM fbem-503 132 13 model model NOUN fbem-503 132 14 2 2 NUM fbem-503 132 15 model model NOUN fbem-503 132 16 3 3 NUM fbem-503 132 17 the the DET fbem-503 132 18 size size NOUN fbem-503 132 19 of of ADP fbem-503 132 20 the the DET fbem-503 132 21 market market NOUN fbem-503 132 22 -0.060 -0.060 NOUN fbem-503 132 23 * * PUNCT fbem-503 132 24 * * PUNCT fbem-503 132 25 * * PUNCT fbem-503 132 26 ( ( PUNCT fbem-503 132 27 -9.61 -9.61 NOUN fbem-503 132 28 ) ) PUNCT fbem-503 132 29 -0.062 -0.062 NOUN fbem-503 132 30 * * PUNCT fbem-503 132 31 * * PUNCT fbem-503 132 32 * * PUNCT fbem-503 132 33 ( ( PUNCT fbem-503 132 34 -9.51 -9.51 NUM fbem-503 132 35 ) ) PUNCT fbem-503 132 36 -0.042 -0.042 PUNCT fbem-503 132 37 * * PUNCT fbem-503 132 38 * * PUNCT fbem-503 132 39 * * PUNCT fbem-503 132 40 ( ( PUNCT fbem-503 132 41 -6.52 -6.52 ADJ fbem-503 132 42 ) ) PUNCT fbem-503 132 43 international international ADJ fbem-503 132 44 experience experience NOUN fbem-503 132 45 0.0002 0.0002 NUM fbem-503 132 46 * * PUNCT fbem-503 132 47 * * PUNCT fbem-503 132 48 * * PUNCT fbem-503 132 49 ( ( PUNCT fbem-503 132 50 27.55 27.55 NUM fbem-503 132 51 ) ) PUNCT fbem-503 132 52 0.0002 0.0002 NUM fbem-503 132 53 * * PUNCT fbem-503 132 54 * * PUNCT fbem-503 132 55 * * PUNCT fbem-503 132 56 ( ( PUNCT fbem-503 132 57 27.61 27.61 NUM fbem-503 132 58 ) ) PUNCT fbem-503 132 59 0.0002 0.0002 NUM fbem-503 132 60 * * PUNCT fbem-503 132 61 * * PUNCT fbem-503 132 62 * * PUNCT fbem-503 132 63 ( ( PUNCT fbem-503 132 64 27.60 27.60 NUM fbem-503 132 65 ) ) PUNCT fbem-503 132 66 geographic geographic ADJ fbem-503 132 67 distance distance NOUN fbem-503 132 68 0.111 0.111 NUM fbem-503 132 69 * * PUNCT fbem-503 132 70 * * PUNCT fbem-503 132 71 * * PUNCT fbem-503 132 72 ( ( PUNCT fbem-503 132 73 6.80 6.80 NUM fbem-503 132 74 ) ) PUNCT fbem-503 132 75 cultural cultural ADJ fbem-503 132 76 distance distance NOUN fbem-503 132 77 0.082 0.082 NUM fbem-503 132 78 * * PUNCT fbem-503 132 79 * * PUNCT fbem-503 132 80 * * PUNCT fbem-503 132 81 ( ( PUNCT fbem-503 132 82 4.93 4.93 NUM fbem-503 132 83 ) ) PUNCT fbem-503 132 84 system system NOUN fbem-503 132 85 of of ADP fbem-503 132 86 distance distance NOUN fbem-503 132 87 -0.049 -0.049 PUNCT fbem-503 132 88 * * PUNCT fbem-503 132 89 * * PUNCT fbem-503 132 90 * * PUNCT fbem-503 132 91 ( ( PUNCT fbem-503 132 92 -5.42 -5.42 NUM fbem-503 132 93 ) ) PUNCT fbem-503 132 94 population population NOUN fbem-503 132 95 size size NOUN fbem-503 132 96 0.046 0.046 NUM fbem-503 132 97 * * PUNCT fbem-503 132 98 * * PUNCT fbem-503 132 99 * * PUNCT fbem-503 132 100 ( ( PUNCT fbem-503 132 101 4.94 4.94 NUM fbem-503 132 102 ) ) PUNCT fbem-503 132 103 0.051 0.051 NUM fbem-503 132 104 * * PUNCT fbem-503 132 105 * * PUNCT fbem-503 132 106 * * PUNCT fbem-503 132 107 ( ( PUNCT fbem-503 132 108 5.35 5.35 NUM fbem-503 132 109 ) ) PUNCT fbem-503 132 110 0.027 0.027 NUM fbem-503 132 111 * * PUNCT fbem-503 132 112 * * PUNCT fbem-503 132 113 * * PUNCT fbem-503 132 114 ( ( PUNCT fbem-503 132 115 2.81 2.81 NUM fbem-503 132 116 ) ) PUNCT fbem-503 132 117 gdp gdp NOUN fbem-503 132 118 growth growth NOUN fbem-503 132 119 0.014 0.014 NUM fbem-503 132 120 * * PUNCT fbem-503 132 121 * * PUNCT fbem-503 132 122 * * PUNCT fbem-503 132 123 ( ( PUNCT fbem-503 132 124 4.84 4.84 NUM fbem-503 132 125 ) ) PUNCT fbem-503 132 126 0.015 0.015 NUM fbem-503 132 127 * * PUNCT fbem-503 132 128 * * PUNCT fbem-503 132 129 * * PUNCT fbem-503 132 130 ( ( PUNCT fbem-503 132 131 4.97 4.97 NUM fbem-503 132 132 ) ) PUNCT fbem-503 132 133 0.010 0.010 NUM fbem-503 132 134 * * PUNCT fbem-503 132 135 * * PUNCT fbem-503 132 136 * * PUNCT fbem-503 132 137 ( ( PUNCT fbem-503 132 138 3.67 3.67 NUM fbem-503 132 139 ) ) PUNCT fbem-503 132 140 is be AUX fbem-503 132 141 it it PRON fbem-503 132 142 a a DET fbem-503 132 143 central central ADJ fbem-503 132 144 enterprise enterprise NOUN fbem-503 132 145 1.195 1.195 NUM fbem-503 132 146 * * NOUN fbem-503 132 147 * * PUNCT fbem-503 132 148 * * PUNCT fbem-503 132 149 ( ( PUNCT fbem-503 132 150 42.96 42.96 NUM fbem-503 132 151 ) ) PUNCT fbem-503 132 152 1.207 1.207 NUM fbem-503 132 153 * * PUNCT fbem-503 132 154 * * PUNCT fbem-503 132 155 * * PUNCT fbem-503 132 156 ( ( PUNCT fbem-503 132 157 43.55 43.55 NUM fbem-503 132 158 ) ) PUNCT fbem-503 132 159 1.205 1.205 NUM fbem-503 132 160 * * PUNCT fbem-503 132 161 * * PUNCT fbem-503 132 162 * * PUNCT fbem-503 132 163 ( ( PUNCT fbem-503 132 164 43.43 43.43 NUM fbem-503 132 165 ) ) PUNCT fbem-503 132 166 wald wald PROPN fbem-503 132 167 chi2(6 chi2(6 PROPN fbem-503 132 168 ) ) PUNCT fbem-503 132 169 3385.61 3385.61 NUM fbem-503 132 170 3338.20 3338.20 NUM fbem-503 132 171 3493.23 3493.23 NUM fbem-503 132 172 prob prob NOUN fbem-503 132 173 > > X fbem-503 132 174 chi2 chi2 PROPN fbem-503 132 175 0.000 0.000 NUM fbem-503 132 176 0.000 0.000 NUM fbem-503 132 177 0.000 0.000 NUM fbem-503 132 178 number number NOUN fbem-503 132 179 of of ADP fbem-503 132 180 samples sample NOUN fbem-503 132 181 12094 12094 NUM fbem-503 132 182 12094 12094 NUM fbem-503 132 183 12094 12094 NUM fbem-503 132 184 note note NOUN fbem-503 132 185 : : PUNCT fbem-503 132 186 z z NOUN fbem-503 132 187 statistic statistic NOUN fbem-503 132 188 value value NOUN fbem-503 132 189 in in ADP fbem-503 132 190 parentheses parenthesis NOUN fbem-503 132 191 , , PUNCT fbem-503 132 192 * * PUNCT fbem-503 132 193 , , PUNCT fbem-503 132 194 * * PUNCT fbem-503 132 195 * * PUNCT fbem-503 132 196 and and CCONJ fbem-503 132 197 * * PUNCT fbem-503 132 198 * * PUNCT fbem-503 132 199 * * PUNCT fbem-503 132 200 respectively respectively ADV fbem-503 132 201 represent represent VERB fbem-503 132 202 p< p< NOUN fbem-503 132 203 ; ; PUNCT fbem-503 132 204 0.1 0.1 NUM fbem-503 132 205 , , PUNCT fbem-503 132 206 p< p< NOUN fbem-503 132 207 ; ; PUNCT fbem-503 132 208 0.05 0.05 NUM fbem-503 132 209 , , PUNCT fbem-503 132 210 p< p< NOUN fbem-503 132 211 ; ; PUNCT fbem-503 132 212 0.01 0.01 NUM fbem-503 132 213 . . PUNCT fbem-503 133 1 5 5 NUM fbem-503 133 2 . . X fbem-503 133 3 conclusions conclusion NOUN fbem-503 133 4 and and CCONJ fbem-503 133 5 implications implication NOUN fbem-503 133 6 in in ADP fbem-503 133 7 order order NOUN fbem-503 133 8 to to PART fbem-503 133 9 answer answer VERB fbem-503 133 10 the the DET fbem-503 133 11 question question NOUN fbem-503 133 12 " " PUNCT fbem-503 133 13 how how SCONJ fbem-503 133 14 do do AUX fbem-503 133 15 chinese chinese ADJ fbem-503 133 16 enterprises enterprise NOUN fbem-503 133 17 choose choose VERB fbem-503 133 18 the the DET fbem-503 133 19 order order NOUN fbem-503 133 20 of of ADP fbem-503 133 21 market market NOUN fbem-503 133 22 entry entry NOUN fbem-503 133 23 in in ADP fbem-503 133 24 the the DET fbem-503 133 25 process process NOUN fbem-503 133 26 of of ADP fbem-503 133 27 continuous continuous ADJ fbem-503 133 28 overseas overseas ADJ fbem-503 133 29 investment investment NOUN fbem-503 133 30 " " PUNCT fbem-503 133 31 , , PUNCT fbem-503 133 32 this this DET fbem-503 133 33 paper paper NOUN fbem-503 133 34 studies study VERB fbem-503 133 35 the the DET fbem-503 133 36 key key ADJ fbem-503 133 37 concepts concept NOUN fbem-503 133 38 such such ADJ fbem-503 133 39 as as ADP fbem-503 133 40 the the DET fbem-503 133 41 order order NOUN fbem-503 133 42 of of ADP fbem-503 133 43 market market NOUN fbem-503 133 44 entry entry NOUN fbem-503 133 45 , , PUNCT fbem-503 133 46 internationalization internationalization NOUN fbem-503 133 47 experience experience NOUN fbem-503 133 48 , , PUNCT fbem-503 133 49 geographical geographical ADJ fbem-503 133 50 distance distance NOUN fbem-503 133 51 , , PUNCT fbem-503 133 52 cultural cultural ADJ fbem-503 133 53 distance distance NOUN fbem-503 133 54 , , PUNCT fbem-503 133 55 institutional institutional ADJ fbem-503 133 56 distance distance NOUN fbem-503 133 57 and and CCONJ fbem-503 133 58 market market NOUN fbem-503 133 59 size size NOUN fbem-503 133 60 . . PUNCT fbem-503 134 1 the the DET fbem-503 134 2 continuous continuous ADJ fbem-503 134 3 overseas overseas ADJ fbem-503 134 4 investment investment NOUN fbem-503 134 5 behaviors behavior NOUN fbem-503 134 6 of of ADP fbem-503 134 7 chinese chinese ADJ fbem-503 134 8 enterprises enterprise NOUN fbem-503 134 9 during during ADP fbem-503 134 10 1983 1983 NUM fbem-503 134 11 - - SYM fbem-503 134 12 2015 2015 NUM fbem-503 134 13 were be AUX fbem-503 134 14 selected select VERB fbem-503 134 15 as as ADP fbem-503 134 16 the the DET fbem-503 134 17 research research NOUN fbem-503 134 18 object object NOUN fbem-503 134 19 , , PUNCT fbem-503 134 20 and and CCONJ fbem-503 134 21 the the DET fbem-503 134 22 enterprises enterprise NOUN fbem-503 134 23 that that PRON fbem-503 134 24 had have AUX fbem-503 134 25 made make VERB fbem-503 134 26 overseas overseas ADJ fbem-503 134 27 investment investment NOUN fbem-503 134 28 twice twice ADV fbem-503 134 29 or or CCONJ fbem-503 134 30 more more ADJ fbem-503 134 31 during during ADP fbem-503 134 32 1983 1983 NUM fbem-503 134 33 - - SYM fbem-503 134 34 2015 2015 NUM fbem-503 134 35 were be AUX fbem-503 134 36 selected select VERB fbem-503 134 37 , , PUNCT fbem-503 134 38 and and CCONJ fbem-503 134 39 a a DET fbem-503 134 40 total total NOUN fbem-503 134 41 of of ADP fbem-503 134 42 12,094 12,094 NUM fbem-503 134 43 investment investment NOUN fbem-503 134 44 records record NOUN fbem-503 134 45 of of ADP fbem-503 134 46 3602 3602 NUM fbem-503 134 47 enterprises enterprise NOUN fbem-503 134 48 were be AUX fbem-503 134 49 sorted sort VERB fbem-503 134 50 out out ADP fbem-503 134 51 . . PUNCT fbem-503 135 1 this this DET fbem-503 135 2 paper paper NOUN fbem-503 135 3 empirically empirically ADV fbem-503 135 4 examines examine VERB fbem-503 135 5 the the DET fbem-503 135 6 influence influence NOUN fbem-503 135 7 of of ADP fbem-503 135 8 market market NOUN fbem-503 135 9 size size NOUN fbem-503 135 10 , , PUNCT fbem-503 135 11 geographical geographical ADJ fbem-503 135 12 distance distance NOUN fbem-503 135 13 , , PUNCT fbem-503 135 14 cultural cultural ADJ fbem-503 135 15 distance distance NOUN fbem-503 135 16 and and CCONJ fbem-503 135 17 institutional institutional ADJ fbem-503 135 18 distance distance NOUN fbem-503 135 19 on on ADP fbem-503 135 20 overseas overseas ADJ fbem-503 135 21 investment investment NOUN fbem-503 135 22 , , PUNCT fbem-503 135 23 and and CCONJ fbem-503 135 24 explores explore VERB fbem-503 135 25 the the DET fbem-503 135 26 moderating moderate VERB fbem-503 135 27 role role NOUN fbem-503 135 28 of of ADP fbem-503 135 29 internationalization internationalization NOUN fbem-503 135 30 experience experience NOUN fbem-503 135 31 in in ADP fbem-503 135 32 this this DET fbem-503 135 33 process process NOUN fbem-503 135 34 . . PUNCT fbem-503 136 1 the the DET fbem-503 136 2 main main ADJ fbem-503 136 3 conclusions conclusion NOUN fbem-503 136 4 are be AUX fbem-503 136 5 : : PUNCT fbem-503 136 6 ( ( PUNCT fbem-503 136 7 1 1 X fbem-503 136 8 ) ) PUNCT fbem-503 136 9 market market NOUN fbem-503 136 10 size size NOUN fbem-503 136 11 has have VERB fbem-503 136 12 an an DET fbem-503 136 13 important important ADJ fbem-503 136 14 impact impact NOUN fbem-503 136 15 on on ADP fbem-503 136 16 the the DET fbem-503 136 17 market market NOUN fbem-503 136 18 entry entry NOUN fbem-503 136 19 order order NOUN fbem-503 136 20 of of ADP fbem-503 136 21 chinese chinese ADJ fbem-503 136 22 enterprises enterprise NOUN fbem-503 136 23 ' ' PART fbem-503 136 24 overseas overseas ADJ fbem-503 136 25 investment investment NOUN fbem-503 136 26 . . PUNCT fbem-503 137 1 in in ADP fbem-503 137 2 all all DET fbem-503 137 3 empirical empirical ADJ fbem-503 137 4 models model NOUN fbem-503 137 5 in in ADP fbem-503 137 6 this this DET fbem-503 137 7 paper paper NOUN fbem-503 137 8 , , PUNCT fbem-503 137 9 the the DET fbem-503 137 10 coefficient coefficient NOUN fbem-503 137 11 of of ADP fbem-503 137 12 market market NOUN fbem-503 137 13 size size NOUN fbem-503 137 14 is be AUX fbem-503 137 15 significantly significantly ADV fbem-503 137 16 negative negative ADJ fbem-503 137 17 , , PUNCT fbem-503 137 18 and and CCONJ fbem-503 137 19 chinese chinese ADJ fbem-503 137 20 enterprises enterprise NOUN fbem-503 137 21 tend tend VERB fbem-503 137 22 to to PART fbem-503 137 23 preferentially preferentially ADV fbem-503 137 24 enter enter VERB fbem-503 137 25 countries country NOUN fbem-503 137 26 and and CCONJ fbem-503 137 27 regions region NOUN fbem-503 137 28 with with ADP fbem-503 137 29 larger large ADJ fbem-503 137 30 market market NOUN fbem-503 137 31 size size NOUN fbem-503 137 32 . . PUNCT fbem-503 138 1 chinese chinese ADJ fbem-503 138 2 enterprises enterprise NOUN fbem-503 138 3 show show VERB fbem-503 138 4 a a DET fbem-503 138 5 strong strong ADJ fbem-503 138 6 desire desire NOUN fbem-503 138 7 for for ADP fbem-503 138 8 market market NOUN fbem-503 138 9 scale scale NOUN fbem-503 138 10 , , PUNCT fbem-503 138 11 both both PRON fbem-503 138 12 central central ADJ fbem-503 138 13 enterprises enterprise NOUN fbem-503 138 14 and and CCONJ fbem-503 138 15 private private ADJ fbem-503 138 16 enterprises enterprise NOUN fbem-503 138 17 , , PUNCT fbem-503 138 18 market market NOUN fbem-503 138 19 scale scale NOUN fbem-503 138 20 shows show VERB fbem-503 138 21 steady steady ADJ fbem-503 138 22 attraction attraction NOUN fbem-503 138 23 . . PUNCT fbem-503 139 1 there there PRON fbem-503 139 2 was be VERB fbem-503 139 3 no no DET fbem-503 139 4 significant significant ADJ fbem-503 139 5 change change NOUN fbem-503 139 6 before before ADP fbem-503 139 7 and and CCONJ fbem-503 139 8 after after ADP fbem-503 139 9 2008 2008 NUM fbem-503 139 10 . . PUNCT fbem-503 140 1 market market NOUN fbem-503 140 2 seeking seeking NOUN fbem-503 140 3 has have AUX fbem-503 140 4 been be AUX fbem-503 140 5 one one NUM fbem-503 140 6 of of ADP fbem-503 140 7 the the DET fbem-503 140 8 main main ADJ fbem-503 140 9 motivations motivation NOUN fbem-503 140 10 for for ADP fbem-503 140 11 chinese chinese ADJ fbem-503 140 12 enterprises enterprise NOUN fbem-503 140 13 to to PART fbem-503 140 14 expand expand VERB fbem-503 140 15 overseas overseas ADV fbem-503 140 16 since since SCONJ fbem-503 140 17 1983 1983 NUM fbem-503 140 18 . . PUNCT fbem-503 141 1 ( ( PUNCT fbem-503 141 2 2 2 X fbem-503 141 3 ) ) PUNCT fbem-503 141 4 geographical geographical ADJ fbem-503 141 5 distance distance NOUN fbem-503 141 6 has have VERB fbem-503 141 7 a a DET fbem-503 141 8 significant significant ADJ fbem-503 141 9 positive positive ADJ fbem-503 141 10 impact impact NOUN fbem-503 141 11 on on ADP fbem-503 141 12 market market NOUN fbem-503 141 13 entry entry NOUN fbem-503 141 14 order order NOUN fbem-503 141 15 . . PUNCT fbem-503 142 1 in in ADP fbem-503 142 2 the the DET fbem-503 142 3 full full ADJ fbem-503 142 4 - - PUNCT fbem-503 142 5 sample sample NOUN fbem-503 142 6 empirical empirical ADJ fbem-503 142 7 model model NOUN fbem-503 142 8 , , PUNCT fbem-503 142 9 the the DET fbem-503 142 10 coefficient coefficient NOUN fbem-503 142 11 of of ADP fbem-503 142 12 geographical geographical ADJ fbem-503 142 13 distance distance NOUN fbem-503 142 14 is be AUX fbem-503 142 15 significantly significantly ADV fbem-503 142 16 positive positive ADJ fbem-503 142 17 , , PUNCT fbem-503 142 18 and and CCONJ fbem-503 142 19 chinese chinese ADJ fbem-503 142 20 enterprises enterprise NOUN fbem-503 142 21 follow follow VERB fbem-503 142 22 the the DET fbem-503 142 23 " " PUNCT fbem-503 142 24 proximity proximity NOUN fbem-503 142 25 principle principle NOUN fbem-503 142 26 " " PUNCT fbem-503 142 27 to to PART fbem-503 142 28 preferentially preferentially ADV fbem-503 142 29 enter enter VERB fbem-503 142 30 countries country NOUN fbem-503 142 31 with with ADP fbem-503 142 32 smaller small ADJ fbem-503 142 33 geographical geographical ADJ fbem-503 142 34 distance distance NOUN fbem-503 142 35 . . PUNCT fbem-503 143 1 in in ADP fbem-503 143 2 the the DET fbem-503 143 3 grouping group VERB fbem-503 143 4 model model NOUN fbem-503 143 5 , , PUNCT fbem-503 143 6 geographical geographical ADJ fbem-503 143 7 distance distance NOUN fbem-503 143 8 has have VERB fbem-503 143 9 no no DET fbem-503 143 10 significant significant ADJ fbem-503 143 11 effect effect NOUN fbem-503 143 12 on on ADP fbem-503 143 13 the the DET fbem-503 143 14 investment investment NOUN fbem-503 143 15 activities activity NOUN fbem-503 143 16 of of ADP fbem-503 143 17 central central ADJ fbem-503 143 18 enterprises enterprise NOUN fbem-503 143 19 , , PUNCT fbem-503 143 20 but but CCONJ fbem-503 143 21 has have VERB fbem-503 143 22 a a DET fbem-503 143 23 significant significant ADJ fbem-503 143 24 effect effect NOUN fbem-503 143 25 on on ADP fbem-503 143 26 private private ADJ fbem-503 143 27 enterprises enterprise NOUN fbem-503 143 28 , , PUNCT fbem-503 143 29 and and CCONJ fbem-503 143 30 private private ADJ fbem-503 143 31 enterprises enterprise NOUN fbem-503 143 32 will will AUX fbem-503 143 33 take take VERB fbem-503 143 34 the the DET fbem-503 143 35 lead lead NOUN fbem-503 143 36 to to PART fbem-503 143 37 enter enter VERB fbem-503 143 38 countries country NOUN fbem-503 143 39 with with ADP fbem-503 143 40 small small ADJ fbem-503 143 41 geographical geographical ADJ fbem-503 143 42 distance distance NOUN fbem-503 143 43 . . PUNCT fbem-503 144 1 the the DET fbem-503 144 2 ownership ownership NOUN fbem-503 144 3 characteristics characteristic NOUN fbem-503 144 4 of of ADP fbem-503 144 5 central central ADJ fbem-503 144 6 enterprises enterprise NOUN fbem-503 144 7 , , PUNCT fbem-503 144 8 strong strong ADJ fbem-503 144 9 financial financial ADJ fbem-503 144 10 resources resource NOUN fbem-503 144 11 and and CCONJ fbem-503 144 12 national national ADJ fbem-503 144 13 credit credit NOUN fbem-503 144 14 guarantee guarantee NOUN fbem-503 144 15 central central ADJ fbem-503 144 16 enterprises enterprise NOUN fbem-503 144 17 overcome overcome VERB fbem-503 144 18 the the DET fbem-503 144 19 negative negative ADJ fbem-503 144 20 effect effect NOUN fbem-503 144 21 brought bring VERB fbem-503 144 22 by by ADP fbem-503 144 23 geographical geographical ADJ fbem-503 144 24 distance distance NOUN fbem-503 144 25 . . PUNCT fbem-503 145 1 ( ( PUNCT fbem-503 145 2 3 3 X fbem-503 145 3 ) ) PUNCT fbem-503 145 4 cultural cultural ADJ fbem-503 145 5 distance distance NOUN fbem-503 145 6 has have VERB fbem-503 145 7 a a DET fbem-503 145 8 significant significant ADJ fbem-503 145 9 positive positive ADJ fbem-503 145 10 impact impact NOUN fbem-503 145 11 on on ADP fbem-503 145 12 market market NOUN fbem-503 145 13 entry entry NOUN fbem-503 145 14 order order NOUN fbem-503 145 15 . . PUNCT fbem-503 146 1 the the DET fbem-503 146 2 coefficient coefficient NOUN fbem-503 146 3 of of ADP fbem-503 146 4 cultural cultural ADJ fbem-503 146 5 distance distance NOUN fbem-503 146 6 is be AUX fbem-503 146 7 significantly significantly ADV fbem-503 146 8 positive positive ADJ fbem-503 146 9 in in ADP fbem-503 146 10 most most ADJ fbem-503 146 11 models model NOUN fbem-503 146 12 . . PUNCT fbem-503 147 1 chinese chinese ADJ fbem-503 147 2 enterprises enterprise NOUN fbem-503 147 3 have have VERB fbem-503 147 4 priority priority NOUN fbem-503 147 5 to to PART fbem-503 147 6 enter enter VERB fbem-503 147 7 countries country NOUN fbem-503 147 8 and and CCONJ fbem-503 147 9 regions region NOUN fbem-503 147 10 with with ADP fbem-503 147 11 smaller small ADJ fbem-503 147 12 cultural cultural ADJ fbem-503 147 13 distance distance NOUN fbem-503 147 14 , , PUNCT fbem-503 147 15 but but CCONJ fbem-503 147 16 central central ADJ fbem-503 147 17 enterprises enterprise NOUN fbem-503 147 18 are be AUX fbem-503 147 19 more more ADV fbem-503 147 20 sensitive sensitive ADJ fbem-503 147 21 to to ADP fbem-503 147 22 cultural cultural ADJ fbem-503 147 23 distance distance NOUN fbem-503 147 24 than than ADP fbem-503 147 25 private private ADJ fbem-503 147 26 enterprises enterprise NOUN fbem-503 147 27 . . PUNCT fbem-503 148 1 ( ( PUNCT fbem-503 148 2 4 4 X fbem-503 148 3 ) ) PUNCT fbem-503 148 4 institutional institutional ADJ fbem-503 148 5 distance distance NOUN fbem-503 148 6 has have VERB fbem-503 148 7 a a DET fbem-503 148 8 significant significant ADJ fbem-503 148 9 negative negative ADJ fbem-503 148 10 impact impact NOUN fbem-503 148 11 on on ADP fbem-503 148 12 market market NOUN fbem-503 148 13 entry entry NOUN fbem-503 148 14 order order NOUN fbem-503 148 15 . . PUNCT fbem-503 149 1 in in ADP fbem-503 149 2 most most ADJ fbem-503 149 3 models model NOUN fbem-503 149 4 , , PUNCT fbem-503 149 5 the the DET fbem-503 149 6 coefficient coefficient NOUN fbem-503 149 7 of of ADP fbem-503 149 8 institutional institutional ADJ fbem-503 149 9 distance distance NOUN fbem-503 149 10 is be AUX fbem-503 149 11 significantly significantly ADV fbem-503 149 12 negative negative ADJ fbem-503 149 13 , , PUNCT fbem-503 149 14 and and CCONJ fbem-503 149 15 chinese chinese ADJ fbem-503 149 16 enterprises enterprise NOUN fbem-503 149 17 have have VERB fbem-503 149 18 priority priority NOUN fbem-503 149 19 to to PART fbem-503 149 20 enter enter VERB fbem-503 149 21 countries country NOUN fbem-503 149 22 and and CCONJ fbem-503 149 23 regions region NOUN fbem-503 149 24 with with ADP fbem-503 149 25 larger large ADJ fbem-503 149 26 institutional institutional ADJ fbem-503 149 27 distance distance NOUN fbem-503 149 28 . . PUNCT fbem-503 150 1 chinese chinese ADJ fbem-503 150 2 enterprises enterprise NOUN fbem-503 150 3 prefer prefer VERB fbem-503 150 4 to to PART fbem-503 150 5 enter enter VERB fbem-503 150 6 markets market NOUN fbem-503 150 7 with with ADP fbem-503 150 8 large large ADJ fbem-503 150 9 market market NOUN fbem-503 150 10 sizes size NOUN fbem-503 150 11 such such ADJ fbem-503 150 12 as as ADP fbem-503 150 13 europe europe PROPN fbem-503 150 14 and and CCONJ fbem-503 150 15 the the DET fbem-503 150 16 united united PROPN fbem-503 150 17 states states PROPN fbem-503 150 18 . . PUNCT fbem-503 151 1 the the DET fbem-503 151 2 institutional institutional ADJ fbem-503 151 3 distance distance NOUN fbem-503 151 4 between between ADP fbem-503 151 5 these these DET fbem-503 151 6 countries country NOUN fbem-503 151 7 and and CCONJ fbem-503 151 8 china china PROPN fbem-503 151 9 is be AUX fbem-503 151 10 often often ADV fbem-503 151 11 huge huge ADJ fbem-503 151 12 . . PUNCT fbem-503 152 1 meanwhile meanwhile ADV fbem-503 152 2 , , PUNCT fbem-503 152 3 compared compare VERB fbem-503 152 4 with with ADP fbem-503 152 5 63 63 NUM fbem-503 152 6 institutional institutional ADJ fbem-503 152 7 distance distance NOUN fbem-503 152 8 , , PUNCT fbem-503 152 9 market market NOUN fbem-503 152 10 size size NOUN fbem-503 152 11 has have VERB fbem-503 152 12 a a DET fbem-503 152 13 greater great ADJ fbem-503 152 14 impact impact NOUN fbem-503 152 15 . . PUNCT fbem-503 153 1 by by ADP fbem-503 153 2 employing employ VERB fbem-503 153 3 experienced experienced ADJ fbem-503 153 4 management management NOUN fbem-503 153 5 teams team NOUN fbem-503 153 6 in in ADP fbem-503 153 7 the the DET fbem-503 153 8 host host NOUN fbem-503 153 9 country country NOUN fbem-503 153 10 market market NOUN fbem-503 153 11 and and CCONJ fbem-503 153 12 deepening deepen VERB fbem-503 153 13 cooperation cooperation NOUN fbem-503 153 14 with with ADP fbem-503 153 15 the the DET fbem-503 153 16 host host NOUN fbem-503 153 17 country country NOUN fbem-503 153 18 government government NOUN fbem-503 153 19 , , PUNCT fbem-503 153 20 the the DET fbem-503 153 21 negative negative ADJ fbem-503 153 22 effects effect NOUN fbem-503 153 23 of of ADP fbem-503 153 24 institutional institutional ADJ fbem-503 153 25 distance distance NOUN fbem-503 153 26 can can AUX fbem-503 153 27 be be AUX fbem-503 153 28 alleviated alleviate VERB fbem-503 153 29 , , PUNCT fbem-503 153 30 but but CCONJ fbem-503 153 31 enterprises enterprise NOUN fbem-503 153 32 can can AUX fbem-503 153 33 not not PART fbem-503 153 34 change change VERB fbem-503 153 35 the the DET fbem-503 153 36 market market NOUN fbem-503 153 37 size size NOUN fbem-503 153 38 of of ADP fbem-503 153 39 the the DET fbem-503 153 40 host host NOUN fbem-503 153 41 country country NOUN fbem-503 153 42 . . PUNCT fbem-503 154 1 references reference NOUN fbem-503 154 2 [ [ X fbem-503 154 3 1 1 NUM fbem-503 154 4 ] ] PUNCT fbem-503 154 5 arto arto PROPN fbem-503 154 6 ojala ojala PROPN fbem-503 154 7 , , PUNCT fbem-503 154 8 pasi pasi NOUN fbem-503 154 9 tyrvΓ€inen tyrvΓ€inen NOUN fbem-503 154 10 . . PUNCT fbem-503 155 1 business business NOUN fbem-503 155 2 models model NOUN fbem-503 155 3 and and CCONJ fbem-503 155 4 market market NOUN fbem-503 155 5 entry entry NOUN fbem-503 155 6 mode mode NOUN fbem-503 155 7 choice choice NOUN fbem-503 155 8 of of ADP fbem-503 155 9 small small ADJ fbem-503 155 10 software software NOUN fbem-503 155 11 firms[j firms[j PROPN fbem-503 155 12 ] ] PUNCT fbem-503 155 13 . . PUNCT fbem-503 156 1 journal journal PROPN fbem-503 156 2 of of ADP fbem-503 156 3 international international ADJ fbem-503 156 4 entrepreneurship,2007,4(2 entrepreneurship,2007,4(2 NOUN fbem-503 156 5 - - PUNCT fbem-503 156 6 3 3 NUM fbem-503 156 7 ) ) PUNCT fbem-503 156 8 . . PUNCT fbem-503 157 1 [ [ X fbem-503 157 2 2 2 NUM fbem-503 157 3 ] ] X fbem-503 157 4 dow dow PROPN fbem-503 157 5 , , PUNCT fbem-503 157 6 d. d. PROPN fbem-503 157 7 , , PUNCT fbem-503 157 8 ferencikova ferencikova PROPN fbem-503 157 9 , , PUNCT fbem-503 157 10 s. s. PROPN fbem-503 157 11 more more ADJ fbem-503 157 12 than than ADP fbem-503 157 13 just just ADV fbem-503 157 14 national national ADJ fbem-503 157 15 cultural cultural ADJ fbem-503 157 16 distance distance NOUN fbem-503 157 17 : : PUNCT fbem-503 157 18 testing test VERB fbem-503 157 19 new new ADJ fbem-503 157 20 distance distance NOUN fbem-503 157 21 scales scale NOUN fbem-503 157 22 on on ADP fbem-503 157 23 fdi fdi PROPN fbem-503 157 24 in in ADP fbem-503 157 25 slovakia[j slovakia[j PROPN fbem-503 157 26 ] ] PUNCT fbem-503 157 27 . . PUNCT fbem-503 158 1 international international ADJ fbem-503 158 2 business business PROPN fbem-503 158 3 review review PROPN fbem-503 158 4 , , PUNCT fbem-503 158 5 2010 2010 NUM fbem-503 158 6 , , PUNCT fbem-503 158 7 19(1 19(1 NUM fbem-503 158 8 ): ): PUNCT fbem-503 158 9 46 46 NUM fbem-503 158 10 - - SYM fbem-503 158 11 58 58 NUM fbem-503 158 12 . . PUNCT fbem-503 159 1 [ [ X fbem-503 159 2 3 3 NUM fbem-503 159 3 ] ] X fbem-503 159 4 kogut kogut X fbem-503 159 5 , , PUNCT fbem-503 159 6 b. b. PROPN fbem-503 159 7 , , PUNCT fbem-503 159 8 singh singh PROPN fbem-503 159 9 , , PUNCT fbem-503 159 10 h. h. PROPN fbem-503 159 11 the the DET fbem-503 159 12 effect effect NOUN fbem-503 159 13 of of ADP fbem-503 159 14 national national ADJ fbem-503 159 15 culture culture NOUN fbem-503 159 16 on on ADP fbem-503 159 17 the the DET fbem-503 159 18 choice choice NOUN fbem-503 159 19 of of ADP fbem-503 159 20 entry entry NOUN fbem-503 159 21 mode[j mode[j NOUN fbem-503 159 22 ] ] PUNCT fbem-503 159 23 . . PUNCT fbem-503 160 1 journal journal PROPN fbem-503 160 2 of of ADP fbem-503 160 3 international international ADJ fbem-503 160 4 business business NOUN fbem-503 160 5 studies study NOUN fbem-503 160 6 , , PUNCT fbem-503 160 7 1988 1988 NUM fbem-503 160 8 , , PUNCT fbem-503 160 9 19 19 NUM fbem-503 160 10 ( ( PUNCT fbem-503 160 11 3 3 NUM fbem-503 160 12 ): ): PUNCT fbem-503 160 13 411 411 NUM fbem-503 160 14 - - SYM fbem-503 160 15 432 432 NUM fbem-503 160 16 . . 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