Abstract: There are many reasons for the differences in the direct foreign investment behavior of companies in different regions. First, according to the OFDI traffic and economic development level, the 17 cities in Shandong Province are divided into developed and developing regions, and then based on the panel data of outward direct investment in the 17 cities in Shandong Province from 2006 to 2015, the Theil Index was used to measure the degree of interregional differences and intraregional differences of OFDI in Shandong Province and their respective contribution rates. Then, an empirical study was conducted on the influencing factors of OFDI in each region. The results show that economic development level and financial development level have positive effect on OFDI in Shandong Province; industrialization level and R&D level have significant impact on the developed regions, but have no significant impact on the developing regions; cultural development level has no significant effect on developed regions, but on the developing regions it is significant; foreign direct investment has no significant impact on foreign direct investment in these two regions. Finally, we summarize the influencing factors of OFDI in different regions of Shandong Province and put forward some suggestions for their development.

Key words: Shandong province, OFDI, regional differences, Theil index

摘要： 不同地区企业对外直接投资行为的差异有诸多原因。首先按照OFDI流量和经济发展水平将山东省十七地市分成发达和欠发达两大区域，基于2006—2015年这十七地市对外直接投资的面板数据，利用泰尔指数衡量山东省OFDI区域间差异和区域内差异的程度以及各自的贡献率，再对各区域OFDI的影响因素进行实证研究。结果表明：经济发展水平和金融发展水平对山东省企业OFDI有促进作用；工业化程度和研发水平对发达区域影响显著，而对欠发达区域影响均不显著；文化发展水平对发达区域影响不显著，而对欠发达区域影响显著；外商直接投资对这两型区域对外直接投资的影响均不显著。最后，对山东省各区域OFDI的影响因素进行总结并为其发展提出相关建议。

关键词: 山东省, OFDI, 区域差异, 泰尔指数