关键词: 国家距离 , 跨国投资 , 投资经验 , 经验学习 , 经验误用 , 拉美

Abstract: We propose a research framework to analyze the learning effect and misusing effect of investment experience on the impact of national distance on crossborder investment performance, based on the microdata of Chinas enterprise investment in Latin AmericaThe empirical results show that the national distance has a significant negative effect on the crossborder investment activitiesThe effects of institutional distance and geographical distance are more strongly negative effect than culture distanceThe host countrys investment experience mainly is the learning effect, the other is misusing effectThis paper provides some theoretical explanations and investment strategies.

Key words: national distance , crossborder investment , investment experience , experience learning , experience misusing , Latin America