| Due to the relative shortage of domestic innovation resources,the establishment of overseas R&D centers has become an important strategic tool for emerging economies to enhance the innovation capacity of parent companies,and to cope with the challenges of globalization.However,as a late-developing country,Chinese enterprises generally lack absorption capacity and international experience,can overseas R&D investment improve the innovation performance of parent company as expected? Strengthening the research on the relationship between overseas R&D investment and innovation performance can scientifically guide Chinese multinational enterprises to reasonably construct overseas R&D network so as to improve their independent innovation ability and international strategic position.Starting from the dual perspectives of investment depth and investment breadth,this study integrates resource-based view,dynamic capability theory,and institutional theory,and focuses on the core theme of "how the portfolio structure dimension of overseas R&D investment affects parent company's innovation performance ".And this study will deeply discuss three interrelated issues:(1)Whether the key portfolio structure dimensions of overseas R&D investment--overseas R&D depth and overseas R&D breadth have a differentiated impact on parent company's innovation performance;(2)Whether the matching relationship between overseas R&D depth and overseas R&D breadth has a differentiated impact on parent company's innovation performance;(3)How the conditional configuration of overseas R&D depth and overseas R&D breadth influences parent company's innovation performance.Through in-depth analysis of the effect mechanism,matching effect and configuration effect of different portfolio structures of overseas R&D investment on parent company's innovation performance,it is conducive to improving the reverse learning theory research of overseas R&D investment in emerging economies,which has important theoretical and practical significance.This study through in-depth theoretical analysis and a large number of empirical test,illustrates the different influence affect and implementation condition of overseas R&D portfolio structure on parent company's innovation performance,evaluate the different influence affect and implementation condition of the matching relationship between overseas R&D depth and overseas R&D breadth on parent company's innovation performance,parse different configuration path effect between overseas R&D combination structure and enterprise internal resources conditions on parent company's innovation performance.On the basis of this,four upgrading paths and evolution process of parent company's innovation performance have been proposed,namely,home market expansion,home capacity improvement,overseas market expansion and global resource integration,which provide possible path choices and corresponding policy suggestions for the later-developing multinational enterprises to break through the low-end technology lock.Specifically,the main research content is as follows:First,this paper expounds the affect mechanism and realization conditions of the influence of different dimensions of overseas R&D portfolio structure on parent company's innovation performance.From the perspective of portfolio structure,the level of overseas R&D investment is divided into two dimensions:overseas R&D depth and overseas R&D breadth.Furthermore,the enterprises' dynamic capability is taken as the key moderating variable,and the moderating effect of absorption capability and adaptation capability on the relationship between overseas R&D portfolio structure and parent company's innovation performance is investigated in depth.The empirical results show that:(1)there is an inverted U-shaped relationship between overseas R&D depth and parent company's innovation performance,while overseas R&D breadth positively influences parent company's innovation performance;(2)absorption capacity positive moderates the inverted U-shaped relationship between overseas R&D depth and parent company's innovation performance,and positive moderates the positive relationship between overseas R&D breadth and parent company's innovation performance;(3)adaptability capacity has no significant moderating effect on the inverted U-shaped relationship between overseas R&D depth and parent company's innovation performance;while significantly moderated the positive relationship between overseas R&D breadth and parent company's innovation performance.Second,the influence effect and realization condition of the different dimensions of overseas R&D portfolio structure matching state affecting parent company's innovation performance.Combined with polynomial regression and response surface analysis techniques,this study compares the differen t innovation performance of the parent company under different matching states of overseas R&D portfolio structure,and identifies the overseas R&D portfolio structure with maximized parent company's innovation performance.Furthermore,taking state-owned equity and foreign equity as the key moderating variables,the moderate effect of different ownership structure on the matching relationship between overseas R&D depth and overseas R&D breadth was investigated.The empirical results show that:(1)the innovation performance of the parent company in the matching state is higher than that in the mismatching state;(2)the innovation performance of the parent company in the high matching state is higher than that in the low matching state;(3)in the case of mismatch,the innovation performance of the parent company under high overseas R&D depth-low overseas R&D breadth is higher than that of the parent company in the case of low overseas R&D depth-high overseas R&D breadth;(4)different ownership structure has different moderating effects on the relationship between overseas R&D depth-overseas R&D breadth matching and parent company's innovation performance: state-owned equity reversely moderates the matching relationship between overseas R&D depth and overseas R&D breadth;foreign equity positively moderates the matching relationship between overseas R&D depth and overseas R&D breadth.Third,this paper analyzes the influence of overseas R&D portfolio structure and different conditional configuration of internal resources on the innovation performance of the parent company.Based on the qualitative comparison method(QCA),this study investigated the synergistic effects of multiple situational factors such as overseas R&D depth,overseas R&D breadth,absorption capacity,organizational redundancy and international experience on parent company's innovation performance.The empirical results show that:(1)For the improvement of parent company's innovation performance,the overseas R&D portfolio structure is a necessary antecedent condition,while other factors are non-essential conditions;(2)four modes that can effectively improve parent company's innovation performance were identified,namely,home market expansion,home capacity improvement,overseas market expansion and global resource integration.The main innovations of this study are reflected in the following aspects:First,by introducing the dimension of overseas R&D portfolio into the research on the relationship between overseas R&D and innovation performance,it is helpful to deeply understand the relationship between overseas R&D and innovation performance of emerging transnational enterprises.Second,this paper considers the mechanism of the match relationship between overseas R&D depth and overseas R&D breadth which affects the parent company's innovation performance,and promotes the research on the portfolio structure dimension of overseas R&D investment.Finally,by introducing the internal resource factors into the relationship between the overseas R&D portfolio structure and parent company's innovation performance,explores the specific path for late-developing transnational enterprises in emerging economies to achieve higher innovation performance,and reveals the black box of R&D internationalization reverse learning. |
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