Research On The Mechanism Of International Entrepreneurship To Improve The Innovation Performance Of Enterprises

With the ever-increasing global economic ties and increasing competition in the international market,internationalization strategies have become a routine option for the development strategies adopted by Chinese companies.This is not only an important manifestation of the international influence of Chinese companies,but also the key for companies to discover entrepreneurial opportunities.Through the way,international entrepreneurship is playing an increasingly important role for Chinese companies to gain competitive advantage.In the meantime,innovation performance is the main dimension of corporate performance,and related research on its promotion mechanism can provide useful ideas for companies to improve their international performance,seize and take advantage of development opportunities.However,in the turbulent international business environment,some scholars are concerned that the establishment of tariffs and trade barriers has a negative impact on the international entrepreneurial activities of enterprises,which has challenged the theoretical and practical innovation of international entrepreneurship.Similarly,enterprises promote innovation through international entrepreneurship.The strategic choice of performance has also been tested.Therefore,in order to effectively enhance the innovation capabilities of Chinese companies in the international market,it is particularly important for companies to fully understand the internal mechanism of international entrepreneurship to enhance innovation performance.It is worth noting that startups may face serious external disadvantages when entering overseas markets.This disadvantage and the volatile international operating environment may have a negative impact on the level of innovation performance of enterprises.In order to quickly find effective ways to improve innovation performance in international entrepreneurship,companies often need to fully understand the key impetus the process of international entrepreneurship,identify stakeholders in this process,and to establish close cooperation with stakeholders to form a solid relationship.Social networks share and rationally allocate resources such as the market and technology,and maximize the innovation performance of enterprises in the process of international entrepreneurship through value co-creation.In addition,some scholars have pointed out that realizing value co-creation is an effective way for companies to obtain innovation performance.Enterprises and stakeholders integrate resources and build social networks,and then realize value co-creation with stakeholders are an important way to improve innovation performance.To this end,based on the theories of international entrepreneurship,stakeholders,social networks,and value co-creation,this article focuses on companies with entrepreneurial international behavior,comprehensively using qualitative case research methods and quantitative empirical research methods,and applying grounded theories,Induction,deduction,quantitative analysis and other technologies,discussing the mechanism of international entrepreneurship to enhance corporate innovation performance from three aspects: process mechanism,multiple network formation mechanism,and value co-creation mechanism.The main conclusions are as follows.First,through the study of the process mechanism of international entrepreneurship to improve the innovation performance,we find that:(1)Market space,enterprise vision,mining and utilizing opportunities are the basis of international entrepreneurship to improve the innovation performance.(2)Social certification,institutional environment,international standards,and venture capital connections provide important support for innovative strategy through equity or non-equity international entrepreneurship model.(3)The four action strategies of international learning,open cooperation,demonstrative operation and technological dynamics respectively plays an important role to improve the innovation performance of enterprises subject to intermediary conditions.(4)The four action strategies are not only factors to promote the updating of international knowledge,but also ways to improve the international knowledge reserve of enterprises.The growth of international knowledge is the main reason for the dynamic evolution of international entrepreneurship model.(5)The mechanism that the depth of international to improve the innovation performance of enterprises entrepreneurship has a positive impact on the firm's innovation performance,and it is clear that the breadth of international entrepreneurship has no positive impact on the firm's innovation performance.(6)The stakeholders in the process of improving the entrepreneurial performance of international start-ups is often indispensable.According to the relationship between these stakeholders and international start-ups,multiple networks,such as market network,technology network,government network and capital network,are formed.It is clear that forming a pluralistic network with stakeholders in the process of international entrepreneurship is an important way to improve innovation performance.(7)The paper proposes that value co-creation is the core logic embedded in the process of international entrepreneurship to improve the innovation performance of enterprises,and the formation of multiple networks is the premise of value co-creation.Secondly,through the research on the formation mechanism of multi-network throughout the international entrepreneurship process,we find that:(1)The capital network is formed in term of equitable investment between enterprises and venture capital institutions.The key to the formation of capital network and the improvement of innovation performance is that multiple venture capital institutions jointly invest in international venture enterprises,continue to hold shares and participate in the governance of international venture enterprises after their listing,and bring certificating effect to international venture enterprises.(2)Enterprises and governments form government networks.The technical resources of enterprises and customer resources of the government can be transformed each other in the resource conversion period to achieve the purpose of improving the innovation performance of enterprises.(3)The enterprise has formed a market network with its partners and competitors.The enterprise and its partners jointly improve the efficiency of market resource integration.By making full use of each other's resources,the enterprise and its competitors enhance the market competitiveness of new products,thus improving the innovation performance of the enterprise.(4)The enterprise has formed a technology network with domestic and overseas technology-based institutions.When a new product launched by an enterprise integrates a number of domestic and overseas research and development results,local and overseas technology networks will appear superposition,and domestic and overseas technology crossover will promote the improvement of enterprise innovation performance.Finally,through the study of the value co-creation mechanism of international entrepreneurship to improve the innovation performance of enterprises,we find that:(1)The factors in the multi-network are also the elements forming the main dimensions of value co-creation in each stage.(2)The conceptual consensus stage of value co-creation includes decision consensus,market consensus,technology consensus and industry consensus.The innovation performance of enterprises in this stage is manifested as the initial opening of the international market of products.The value symbiosis stage includes building a business environment,seeking market development,jointly researching and developing products,and jointly managing enterprises.The innovation performance of enterprises in this stage is that their products enter into overseas market in a constant path.The value win-win stage includes aligning interests between public and private sectors,and complementing each other for mutual benefit.The innovation performance of enterprises in this stage is manifested as the increase of global product share.(3)The logical integration of the dimensions in each stage of value co-creation enables enterprises and stakeholders to establish a strong relationship network based on shared destiny,forming a value co-creation mechanism,and thus gradually improving the innovation performance of enterprises.According to the above research conclusion,this paper provides primary paths for international entrepreneurs to participate into the landscape of global entrepreneurship via seven aspects,regarding the depth and breadth of international entrepreneurship,the process improving the performance of enterprise innovation social network,connections with venture capital investment,the value co-creating mechanism formation,innovation policy,factors affecting global strategical decision-making,which all intend to promote international cooperation,reduce the risk of enterprise international entrepreneurship,and improve the enterprise innovation performance.