Motivation,Entry Mode And Innovation Performance Of Chinese Enterprises' Overseas R&D

With the deepening of global economic integration and the rapid decomposition of value chains,innovative resources such as talents,technology,information,and capital are rapidly flowing and reorganizing on a global scale.The world has entered an era of open innovation characterized by global flows of innovative resources.The use of innovative resources around the world to achieve sustainable competitive advantage on a global scale is one of the main driving forces for overseas R&D.Under the background of the vigorous development of overseas R&D activities,the world is facing a major change in the international foreign investment model.China has not only become a host country for overseas R&D investment of multinational companies,but also has become an active overseas R&D investment country.As a latecomer to overseas R&D.How Chinese companies choose their right entry mode based on their own characteristics and strategic layout to maximize the use of global innovation resources,and comprehensively enhance their position in the global innovation landscape is a research proposition worthy of further discussion."Legality" review is the primary issue for Chinese companies to solve R&D activities overseas.The main motives for overseas R&D of Chinese companies can be divided into two types:technology acquisition and technology application.Different research engines determine the priority of overseas R&D institutions for internal legality requirements and external legality requirements,and how to meet legality requirements.Choosing the entry mode has become the first issue that needs to be considered in overseas R&D activities.The second question to think about is:What kind of mechanism will influence innovation in different modes of entry?The entry mode of overseas R&D usually has two aspects.One is to establish a model,whether it is a new construction or a merger;the second is the ownership structure,whether it is a sole proprietorship or a joint venture.The two dimensions are combined into four entry modes:sole-owned,wholly-owned,joint venture,joint venture,and joint venture.Different entry modes determine the extent to which overseas R&D institutions embed internal and external knowledge networks.So,which entry method is more conducive to improving innovation performance?What is the mechanism of action?Based on the above questions,based on the research ideas of "Current Status Revealing—Theory Derivation—Empirical Test—Theoretical Refining",based on theoretical reasoning,using the data of overseas R&D companies listed in the listed companies in Shanghai and Shenzhen,the research on Chinese enterprises abroad The relationship between engine,entry mode and innovation performance,and finally combined with the research conclusions to construct the "Motivation-Entry Mode--Innovation Performance" analysis framework for Chinese companies' overseas R&D.Under different entry motives,enter the optimal strategy combination of mode and location selection.The main conclusions of this paper are as follows:First,when the motivation for overseas R&D is technology acquisition,external legality needs have priority,and enterprises are more inclined to adopt the entry mode of M&A and joint venture;when the motivation for overseas R&D is technology application,Internal legality needs to have priority,enterprises are more inclined to adopt new and wholly-owned entry mode;second,in the two establishment modes,M&A mode is more conducive to overseas R&D institutions to establish interaction with host society,thereby improving innovation performance;In terms of ownership structure,compared with the sole proprietorship model,the joint venture model is more conducive to the flexibility of decision-making by overseas R&D institutions,which enables them to have more space to establish contacts with host country knowledge sources,absorb knowledge spillovers and enhance innovation performance.Third,China and The institutional differences,cultural differences,and absorptive capacity of the host country play a role in regulating the relationship between entry patterns and innovation performance.Specifically,the institutional distance negatively adjusts the positive correlation between the M&A model and the innovation performance,positively adjusts the negative correlation between the parent company's shareholding ratio and the innovation performance;the cultural distance negatively regulates the positive correlation between the M&A model and the innovation performance.Negatively adjust the negative correlation between the shareholding ratio of the parent company and the innovation performance;the absorptive capacity positively adjusts the positive correlation between the M&A model and the innovation performance,and the negative correlation between the parent company's shareholding ratio and the innovation performance.From a theoretical perspective,the conclusion of this paper is a useful supplement to the theory of Chinese enterprises' foreign investment;in practical terms,the research conclusions of this paper can provide policy advice for Chinese enterprises to carry out overseas R&D activities on the one hand,so that they are better.Utilizing overseas R&D strategies to improve independent innovation capabilities,on the other hand,it can provide some reference for relevant policy makers,thus creating better policy conditions for Chinese enterprises to"go out" in R&D resources.