文献类型：期刊文献

英文题名：Evaluating the investment benefit of multinational enterprises' international projects based on risk adjustment: Evidence from China

作者：Chen, Chong[1,2]

第一作者：陈冲;Chen, Chong

通讯作者：Chen, C[1]

机构：[1]Henan Univ Econ & Law, Sch Business Adm, Zhengzhou, Peoples R China;[2]Collaborat Innovat Ctr Three Aspect Coordinat Cen, Zhengzhou, Peoples R China

第一机构：河南财经政法大学工商管理学院

通讯机构：[1]corresponding author), Henan Univ Econ & Law, Coll Business Adm, Zhengzhou, Peoples R China.|[104843]河南财经政法大学工商管理学院;[10484]河南财经政法大学;

年份：2016

卷号：12

期号：9

起止页码：2451-2464

外文期刊名：EURASIA JOURNAL OF MATHEMATICS SCIENCE AND TECHNOLOGY EDUCATION

收录：;Scopus(收录号：2-s2.0-84992597811);WOS:【SSCI(收录号:WOS:000382668700012)】；

基金：This research had been supported by Major Project of Philosophy and Social Sciences Application Reserch in Higher Education Institutions from Henan Province (Grant No. 2017-YYZD-03).

语种：英文

外文关键词：risk identification; interdisciplinary science; risk assessment; entropy; multinational project; project-based; evaluation

摘要：This study examines the international risks faced by multinational enterprises to understand their impact on the evaluation of investment projects. Moreover, it establishes a 'three-dimensional' theoretical framework of risk identification to analyse the composition of international risk indicators of multinational enterprises based on the theory of an enterprise's international development path and stages as well as risk management. Using entropy weights and net present value (NPV), this study employs survey data to empirically analyse the international risk entropy evaluation model and then test the NPV evaluation model based on risk adjustment. A significant difference is found between the evaluation process of multinationals' international investment benefits with and without considering the risk factors. This study concludes that the results of the risk-adjusted NPV model are more scientific and effective than that of the traditional NPV model as the basis of decision-making. It contributes to the theoretical literature by proposing the international risk entropy model and constructing the risk-adjusted NPV model to test the impact of international risk factors on the evaluation of international investment projects. This provides a reference to multinationals in their choice of investment projects as well as to researchers in this field.