摘要
利用2010~2018年中国A股上市公司样本,对外资持股如何影响企业国际化经营进行了实证分析,并着重检验了外资持股经由技术研发和国际高管对国际化经营的作用路径。研究发现,总体上外资持股会显著促进企业国际化经营。在作用路径上,虽然技术研发会促进企业国际化经营,但是外资持股未对企业研发产生显著影响,表明技术研发并没有为外资持股影响企业国际化提供助力;外资持股会显著增加企业国际高管的聘用,并对国际化经营产生正向作用,表明国际高管的聘用能为外资持股影响国际化经营产生有效加持。
By taking A-share listed companies in China from 2010 to 2018 as samples,this paper empirically studies the impact of foreign ownership on enterprise internationalization performance. From the perspective of R&D expenditure and internationalized top management team( TMT),this paper further studies the intermediary path of foreign ownership affecting the performance of enterprises internationalization. It finds that foreign ownership can significantly improve the performance of internationalization;R&D expenditure can improve the performance of internationalization,but foreign ownership has no significant impact on R&D expenditure,which means R&D expenditure is not the intermediary path of foreign ownership affecting the performance of internationalization. Internationalized TMT would improve the performance of internationalization of enterprises,and foreign ownership will promote the internationalization of TMT,that is,internationalized TMT is the intermediary path of foreign ownership affecting the performance of internationalization of enterprises.
作者
彭程
韩知恒
贾歆媛
PENG Cheng;HAN Zhi-heng;JIA Xin-yuan(Research Center for International Business and Economy,Sichuan International Studies University,Chongqing 400031,China)
出处
《湖南科技大学学报（社会科学版）》
CSSCI
北大核心
2020年第6期63-72,共10页
Journal of Hunan University of Science and Technology(Social Science Edition)
基金
重庆市社科规划项目(2018YBJJ032)
国家自然科学基金重点项目(71232004)。
关键词
国际化经营
外资持股
研发投入
国际高管
enterprises internationalization
foreign ownership
R&D expenditure
internationalized TMT
