Carrying out The 19th National Congress of the Communist Party of China Spirits and Speeding up the Construction of An Innovative Country: The Promotion Effect of Enterprise Internationalization on Enterprise Innovation Performance

Abstract

Abstract: Speeding up the construction of an innovative country is a clear requirement put forward by The 19th National Congress of the Communist Party of China, and is also the inevitable choice to change the way of economic development and optimize the economic structure in China. As the main body of the investment of national innovation and development, the innovation ability of enterprise directly determines a country′s innovation ability. Taking 2005-2014 data of Chinese top 500 enterprises as samples, this paper assesses the promoting role of internationalization of Chinese enterprises on innovation output and innovation efficiency through panel Poisson regression and fixed effects regression method, focuses on the influence of capital structure, profit margin and financing constraint on the relationship between them,and pays special attention to the role of the internationalization of Chinese enterprises on the promotion of innovation. The results show enterprise internationalization significantly inhibits enterprise innovation output and innovation efficiency in the current period, shows a significant promotion in the middle and long term, and the impact of enterprise internationalization on innovation is not immediate and overnight; capital structure, profit margin and financing constraints positively adjust the promotion of enterprise internationalization to innovation output, and the impact of enterprise internationalization on innovation is the net result of these factors. Increasing the proportion of overseas assets is beneficial to the innovation output of enterprises, while increasing the proportion of overseas sales is more conducive to the improvement of enterprise innovation efficiency. The above conclusions provide a micro level explanation for objective evaluation of enterprises innovation performance, and also provide useful inspiration for implementing innovation driven development strategy and speeding up the construction of innovative country.

Key words: enterprise internationalization, innovation performance, panel Poisson regression, fixed effect regression

BAI Yun1, LIU Zi-wei2. Carrying out The 19th National Congress of the Communist Party of China Spirits and Speeding up the Construction of An Innovative Country: The Promotion Effect of Enterprise Internationalization on Enterprise Innovation Performance[J]. 商业研究.

References

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