Exogenous Technology Growth Model Of Private Enterprise In An International Perspective

At present, the developments of China's private enterprises are restricted by less advanced technology. There are two methods for the enterprises to achieve technology growth, one is to accelerate internal innovative capabilities, the other is to acquire external technology resources. To the private enterprise, only accelerating R&D efforts and the development of internal innovative capabilities are not sufficient to cope with the increasing cost, speed and complexity of technological developments. On the situation, MNC's R&D internationalization give opportunity for the private enterprise to acquire external technology.The paper first summarizes and compares three of the external technology growth methods. And based on transaction-cost theory, resource-based theory, dynamic capability theory and institutional theory, the paper gives the factors on the decision of external growth strategy and then develops a matrix identifying the external technology growth strategy. Allowing for the periodic characteristics of the private enterprises' growth, according to lifecycle theory of enterprises, the growth of the private enterprises are divided into four stages: initial-stage, developing-stage, mature-stage, downfall-stage, and giving emphasis to analyze enterprise-characteristics and environment-characteristics of the different stages. On the basis, combining with transaction-characteristics and institution- characteristics the paper gets a decision framework which endows with periodic characteristics. The paper gets a dynamic decision matrix which is in accordance with the periodic characteristics of the enterprises' growth to give advice on how to choose external technology growth strategy for the enterprises finally, so the private enterprises can improve technology effectively and strengthen competitive.