Internationalization of Latecomer Firms and Technological Catch-up Performance:An Empirical Analysis based on 2003-2013 Interprovincial Panel Data

Abstract

Abstract: On the basis of multinational company theory and catch-up theory of latecomer firms, this paper examines the relationship between technological catch-up performance and their internationalization of latecomer firms in China, meanwhile, inspects the moderating effects of absorptive capacity and institutional quality. The paper uses 2003-2013 interprovincial panel data to test the hypotheses, finding that internationalization of latecomer firms plays a positive role in technological catch-up performance, absorptive capacity positively adjusts the relationship between internationalization and technological catch-up performance of latecomer firms; the higher the quality of the system, the internationalization of the latecomer firms has a more obvious effect on the promotion of catch-up performance. The conclusions provide theoretical support for the enhancement of the “Going Global” strategy of China′s foreign direct investment on the technological catch-up performance of latecomer firms.

Key words: internationalization of latecomer firms, technological catch-up performance, absorptive capacity, institutional quality

WU Xian-ming, HU Bo-wen. Internationalization of Latecomer Firms and Technological Catch-up Performance:An Empirical Analysis based on 2003-2013 Interprovincial Panel Data[J]. 商业研究.

References

［1］Hagedoorn J. Understanding the rationale of strategic technology partnering: Nterorganizational modes of cooperation and sectoral differences［J］．Strategic Management Journal,1993,14(5): 371-385. ［2］Riviezzo A. Acquisitions in knowledge‐intensive industries［J］．Management Research Review,2013,36(2):183-212. ［3］吴先明. 中国企业对发达国家的逆向投资:创造性资产的分析视角［J］．经济理论与经济管理,2007(9): 52-57. ［4］杜群阳. R&D全球化、反向外溢与技术获取型FDI［J］．国际贸易问题,2006, 288(12): 88-91. ［5］马亚明,张岩贵. 技术优势与对外直接投资:一个关于技术扩散的分析框架［J］．南开经济研究,2003(4): 10-14. ［6］叶娇,赵云鹏. 对外直接投资与逆向技术溢出——基于企业微观特征的分析［J］．国际贸易问题,2016(1): 134-144. ［7］鲁万波,常永瑞,王叶涛. 中国对外直接投资、研发技术溢出与技术进步［J］．科研管理,2015,36(3): 38-48. ［8］Macdougall G D A. THE BENEFITS and COSTS OF PRIVATE INVESTMENT FROM ABROAD: A THEORETICAL APPROACH*［J］．Economic Record,1960,36(73): 13-35. ［9］陈羽,邝国良. FDI、技术差距与本土企业的研发投入——理论及中国的经验研究［J］．国际贸易问题,2009(7): 88-96. ［10］Laursen K, Salter A. Open for innovation: the role of openness in explaining innovation performance among U.K. manufacturing firms［J］．Strategic Management Journal,2006, 27(2): 131-150. ［11］封伟毅,郑立文,许宏啟. 技术溢出效应推动技术进步的机理研究——基于外商直接投资和进口贸易的视角［J］．工业技术经济,2014(8): 147-153. ［12］冼国明,严兵. FDI对中国创新能力的溢出效应［J］．世界经济,2005(10): 18-25. ［13］谢建国. 外商直接投资对中国的技术溢出—一个基于中国省区面板数据的研究［J］．经济学(季刊),2006, 5(3): 1109-1128. ［14］严兵. 外商在华直接投资的溢出效应——基于产业层面的分析［J］．世界经济研究, 2005(3): 4-10. ［15］汤文仙,韩福荣. 三缺口模型:对双缺口模型的修正——对中国利用外资行为的合理解释［J］．当代经济科学,2000, 22(5): 36-40. ［16］江小涓,李蕊. FDI对中国工业增长和技术进步的贡献［J］．中国工业经济. 2002(7): 5-16. ［17］程惠芳. 国际直接投资与开放型内生经济增长［J］．经济研究,2002(10): 71-78. ［18］朱玉杰,赵兰洋. 内向与外向:企业国际化的联系机制及其启示［J］．国际经济合作,2006(7): 24-26. ［19］Welch L S L. Internationalization［J］．Mir Management International Review,1988,37:7-25. ［20］刘红艳,崔耕. 中国企业如何从“引进来”到“走出去”——企业内向国际化模式对外向国际化绩效的影响［J］．财贸经济, 2013, 34(4): 89-97. ［21］Cohen W M, Levinthal D A. Absorptive Capacity: A New Perspective on Learning and Innovation［J］．Administrative Science Quarterly,1990,35(1):128-152. ［22］Chesbrough H W, Teece D J. Organizing for Innovation: When Is Virtual Virtuous?［M］. 1999: 335-341. ［23］Cassiman B, Veugelers R. In Search of Complementarity in Innovation Strategy: Internal R&D and External Knowledge Acquisition［J］．Management Science,2006, 52(1): 68-82. ［24］吕世生,张诚. 当地企业吸收能力与FDI溢出效应的实证分析——以天津为例［J］．南开经济研究, 2004, 6(6): 72-77. ［25］陶锋. 吸收能力、价值链类型与创新绩效——基于国际代工联盟知识溢出的视角［J］．中国工业经济,2011(1): 140-150. ［26］Driffield N, Chiang P C M. The Effects of Offshoring to China: Reallocation, Employment and Productivity in Taiwan［J］．International Journal of the Economics of Business,2009,16(1): 19-38. ［27］周春应. 对外直接投资逆向技术溢出效应吸收能力研究［J］．山西财经大学学报,2009(8): 47-53. ［28］刘明霞,王学军. 中国对外直接投资的逆向技术溢出效应研究［J］．世界经济研究,2009(9): 57-62. ［29］Yang G, Maskus K E. Intellectual property rights and licensing: An econometric investigation［J］．Review of World Economics,2001,137(1): 58-79. ［30］喻世友,万欣荣,史卫. 论跨国公司R&D投资的国别选择［J］．管理世界,2004(1):46-54. ［31］杨全发,韩樱. 知识产权保护与跨国公司对外直接投资策略［J］．经济研究,2006(4):28-34. ［32］吴先明,胡翠平. 国际化动因、制度环境与区位选择:后发企业视角［J］．经济管理, 2015(5): 51-62. ［33］Romer P M. Which Parts of Globalization Matter for Catch-Up Growth?［J］．Nber Working Papers,2010,100(2): 94-98. ［34］余长林. 知识产权保护与国际R&D溢出［J］．世界经济研究,2011(8): 70-75. ［35］衣长军,李赛,张吉鹏. 制度环境、吸收能力与新兴经济体OFDI逆向技术溢出效应——基于中国省际面板数据的门槛检验［J］．财经研究,2015,41(11): 4-19. ［36］高菲,王玉荣,刘晓辉. FDI双重溢出效应对创新追赶绩效的影响机制——基于高技术产业的实证分析［J］．技术经济,2014,33(7): 1-8. ［37］沙文兵. 东道国特征与中国对外直接投资逆向技术溢出——基于跨国面板数据的经验研究［J］．世界经济研究,2014(5).

[1]	LI Jian-jun1,2,HU Zong-yi3,DENG Yu-jia4. Location Choice of China′s OFDI in Countries along “the Belt and Road”：Empirical Research based on the Perspective of Institutional Quality [J]. 商业研究, 2019, 61(8): 55-62.
[2]	FAN De-cheng, LI Sheng-nan. The Impact of Inter-provincial Knowledge Spillover on Innovation Quality in China′s High-tech Industry：An Analysis of Threshold Effect based on Knowledge Absorptive Capacity [J]. 商业研究, 2019, 61(12): 37-45.