The Effects of Ownership Structure and Industry Characteristics on Export Performance

Ownership structure and industry characteristics as internal and external factors respectively significantly impact the export performance of Chinese manufacturing firms. Three different yet related models, namely, logit, tobit and ordered probit models, that correspond to three different indicators of export performance are considered. It was found that the export performance of Chinese manufacturing firms is related not only to foreign capital involvement but also to the extent of foreign investors’ control. Foreign controlled enterprises are more likely to show better export performance than those controlled by domestic investors. Furthermore, the impact of industry concentration on export performance is unclear, while both industry export-orientation and industry capital intensity have a strong impact on the export performance of Chinese firms.