| With the rise of the international market,the scale of domestic foreign direct investment continues to expand,and more and more Chinese start-ups have begun to step into the process of internationalization.Against the backdrop of weak global outbound investment,China's level of foreign investment inflows remains the world's leading country,and it remains the world's second-largest destination country for outbound investment.The number and amount of foreign investment in China has grown steadily,and the forms of investment in China have become more diverse and diverse.At the same time,the influence of Chinese companies in global investment continues to increase,making them the second largest source of global foreign investment.The industry structure of overseas mergers and acquisitions has become more diversified,and the overseas investment in manufacturing,information transmission,computer services and software industries has performed well.Enterprises have actively promoted investment in countries along the “Belt and Road”,with remarkable results,and the proportion of foreign investment by Chinese enterprises has been increasing.In the face of the problems in the development of Chinese enterprises globalization,the speed of Chinese enterprises intermational expansion is slow and slow.At present,the global development of Chinese enterprises is facing the following important issues:(1)The complicated international situation has brought great uncertainty to the overseas development of Chinese enterprises;(2)European and American developed countries have tightened foreign investment review,and Chinese enterprises have become Key review objects;(3)Need to solve the “Belt and Road” construction problems and open up sustainable development paths;(4)Need to break the bottleneck of the development of overseas economic and trade cooperation zones and promote high-quality development;(5)Need to actively respond to Sino-US trade frictions for Chinese companies invest in the United States to create conditions.Based on this background,this paper will explore and study the expansion evolution and performance of China's innate internationalization enterprises from a dual perspective,in order to provide theoretical reference and more instructive countermeasures and Suggestions for the development of enterprise globalizationAccording to the definition of born internationalization,the academic community still has not reached an agreement.Based on the internationalization of domestic enterprises in the process of the operation of the international market operations,this paper will use the internationalization degree greater than 25%,internationalization within three years of establishment,and the independence of the initial operation of the enterprise as the evaluation criteria to complete the definition of the natural international enterprise,systematically reviewed the natural internationalization of enterprises and the dual extended research perspective of internationalization,on this basis,the dual innovative theory(that is,the enterprise to open innovation and explore the binary choice of development pattern)has carried on the further discussion,and the natural internationalization enterprise internationalization extensions of the dual ability to build the path of evolution is analyzed.In the empirical analysis,this study innovatively uses two empirical methods,statistics and econometrics,to analyze the influencing factors of natural international companies on corporate performance from a dual perspective.Among them,accounting mainly uses the questionnaire method to collect data,and uses SPSS24.0 and Amos22.0 two statistical software to construct theoretical models to analyze the growth factors of natural international enterprises;while econometrics uses questionnaires and enterprise The economy collects data,uses Eveiew10.0 to construct a theoretical model,and further analyzes the growth factors of natural international companies from an economic perspective.Finally,this article summarizes the conclusions of the article,understands its shortcomings and looks forward to future research.The main conclusions of this paper are as follows:(1)The research conclusions of the questionnaire survey on the influencing factors of the enterprise growth of natural international enterprises under the dual perspective.First,from the results of the structural model,the strategic choice of a natural international enterprise has a positive and significant effect on the growth of the company,indicating that the higher the quality of the strategic choice,the greater the impact on the growth of the natural international enterprise.For a born international enterprise,appropriate strategic choices promote its rapid and stable entry into the international market,improve international performance,and promote enterprise growth.From the dual perspective,the strategic choice of natural nationalized enterprises has a significant positive impact on the dual innovation capability.Among them,the strategic choice explains the developmental innovation more strongly.The reason may be related to the research object's focus on product development,The international product competitiveness of apparel companies comes from the differentiation strategy,and in the measurement model,the differentiation strategy provides a higher interpretation of the strategic choice,and the relevant development concepts of the natural international enterprise confirm the strategic choice The result of a significant positive impact on development exploration.Correspondingly,the path coefficient of leader ability has also reached a significant level.Among the preliminary constructs of leader ability,the three preliminary constructs,management experience,personal spirit,and social network all provide a high degree of explanation.The management experience of the leader's ability provides strategic support for the company,the personal spirit promotes the company to break the ice,and the social network provides more resources,information and market opportunities for the company.From a dual perspective,the ability of leaders has a positive impact on the dual innovation capabilities of naturally international companies.The higher the leader's ability,the higher the impact on the company's dual innovation ability.The innovation ability,analytical ability,values and related social network resources contained in the leader's ability will promote the enterprise exploratory innovation and development innovation to better allocate resources,and show the balanced advantages of exploratory innovation and development innovation.Accelerate enterprise development.Second,from the perspective of the influencing factors of dual innovation capability,developmental innovation has no significant impact on the growth of naturally internationalized enterprises.The reason may be that developmental innovation has a nonlinear relationship with the growth mode of enterprises.Therefore,in the following text In the econometric empirical evidence,we will further adopt the dual capability structure relationship,namely: balance relationship,interactive relationship,and combine the process of internationalization,asset-liability ratio,and return on assets to complete the construction of a new research framework.Happening.(2)The research conclusions of the econometric analysis of the international performance of naturally internationalized enterprises from the dual perspective.First,the balance level relationship of the dual capability structure relationship has a significant negative correlation with the performance of apparel and luggage companies in the process of internationalization.In other words,the closer the dual capabilities,the smaller the absolute difference,the more it can promote the growth of corporate performance.At the same time,the empirical results show that the interaction level relationship of the dual capability structure relationship has a significant positive correlation with the performance of apparel and luggage companies in the process of internationalization.In other words,the greater the value of the product of dual capabilities,the more it can promote the growth of corporate performance.Further thinking shows that in the process of internationalization,companies need to constantly adjust their development strategies in accordance with the complex environment.Whether it is development innovation capabilities or exploratory innovation capabilities,it is a gradual process.Both the developmental innovation ability and the exploratory innovation ability will experience a low-level,intermediate-level and high-level development process.Generally speaking,from the low-level to the middle-level to the high-level stage,the matching of the dual abilities will lead to constant adjustments between the duals and more and more balance,and the dual product term will become increasingly largest.However,by observing a certain stage alone,whether it is low-level,intermediate-level,or high-level,the balance of dual capabilities may prompt the company to reach an optimal balance in a certain stage.This state of optimal balance will indicate that the company will achieve a good balance at a certain stage and begin to transition to the next higher level.Second,the degree of internationalization has a significant positive correlation with the international performance of naturally internationalized companies.At the same time,the asset-liability ratio has a significant positive correlation with the impact of the international performance of natural international companies.Third,the balance relationship,interaction relationship,internationalization process,asset-liability ratio and corporate performance are studied as a whole framework.It can be found that the balance level has a significant positive moderating effect in the impact of internationalization on corporate performance.The level of internationalization has a significant negative moderating effect on corporate performance.However,both the balance level and the interaction level show a significant negative moderating effect on the impact of the asset-liability ratio on corporate performance.Further thinking: The balance relationship and the interaction relationship will play a different direction of adjustment in the degree of internationalization,but why both have a negative adjustment effect in the asset-liability ratio.In the traditional sense,the debt-to-asset ratio can effectively improve corporate performance as an organizational redundancy.However,it has a "ceiling" effect.When the debt-to-asset ratio reaches a certain level,the improvement of corporate performance will slow down and an inflection point may appear.The size of the enterprise has a threshold effect,and the debt-to-asset ratio of the enterprise is an important factor that promotes the growth of the enterprise scale.Therefore,it can be inferred from the research conclusions of this article: the unlisted Pearl River Delta region's natural international production enterprises of clothing and luggage,with the increase in the asset-liability ratio,the balance level will be more easily ignored,and the development status of the enterprise is also more inclined to double Interactive growth of unbalanced development of meta-capacity.Therefore,both the balance level and the interaction level show a negative adjustment effect in the asset-liability ratio.The innovation of this paper is mainly reflected in three aspects :(1)the innovation of the research object.Through the investigation of the listed and unlisted nature international clothing and luggage industry,this paper understands the enterprise's dual innovation ability through the questionnaire method.It is a research on born international apparel and luggage enterprises in laborintensive apparel and luggage industry that has not been carried out so far.(2)Innovation in variable selection.In terms of the characterization of the variables of dual innovation ability,this paper introduces two new variables,"dual balance ability" and "dual interaction ability",which have not appeared in the domestic literature research.(3)Innovation of research model.In the current research literature,the research on the dual innovation ability of innate international enterprises remains in the online relationship,without considering the nonlinear relationship and curve relationship and other complex regulatory effect analysis.In this study,the complex regulatory effects of bipartite innovation capabilities were analyzed,and the linear,nonlinear and curvilinear relationships of the innate international enterprise bipartite innovation capabilities were considered.Of course,there are four deficiencies in this study :(1)deficiencies in the selection of objects.(2)Insufficient choice of industries for naturally internationalized enterprises.(3)Insufficient selection of regional sample range.These are the areas that this paper will continue to explore in the future. |
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