The Influence Analysis Of Degree Of Internationalization On Firm Performance

Under the background of global economic integration,especially after China’s successful accession to the WTO,Actively participating in international competition and taking the road of internationalization,which has become an inevitable trend for the future development of China’s enterprises.More and more A-share listed enterprises in the domestic have been beginning to make a bold attempt to export products and production factors to the overseas market.However,whether the operation of such enterprises in the transnational operation is helpful to promote the total assets of the enterprise? Whether the development decision of the internationalization of enterprises and the degree of internationalization of enterprises are helpful to improve the performance of enterprises? Compared with the experienced,strong marketing skills and strong funds multinational companies,the improvement of enterprise marketing capability will be the key factor for the survival and development of Chinese enterprises in the future.If the A-share listed companies in China hope to successfully enhance their performance,not only actively participating in international competition to enhance the degree of internationalization,but also attaching the importance to the marketing ability to improve the performance of enterprises together to promote the sustainable development of enterprises.In this paper,to understand better the relationship between the degree of internationalization and performance of A-share listed companies,we use the panel data of the year 2008 to 2015 about A-share listed companies,and taking the enterprise marketing ability as the mediate variable of the model,and taking ratio of expenses to sales,asset liability ratio,enterprise scale、age and the nature of the industry as the control variable,through empirical analysis of the relationship between the degree of internationalization and corporate performance.To reflect more accurately the marketing ability of enterprise,we use the latest indicators to measure the marketing ability,that is,marketing expenditure,intangible resources and customer relationship management.We made the related heterogeneity tests respectively from the interaction of the year and the industry with the degree of internationalization on the performance.And the results show that the performance of internationalization for each year is in the trend of ‘stagnant—decline—recovery’.Meanwhile,the third industry is particularly prominent.Of course,this uncertainty was also affected by the global financial crisis in 2008.The degree of internationalization has some effect on marketing capability;the marketing capability has a positive effect on firm performance;In addition,the marketing ability plays some mediating role in the relationship between internationalization and performance.The contribution of this research is that the previous researches on marketing ability were mainly qualitative analysis,and being difficult to objectively reflect the essence of marketing capability in enterprise;Therefore,this paper uses several indicators to measure marketing ability in enterprise to reveal its outstanding contribution more comprehensively;At the same time,this study regards the marketing capability as an intermediary variable to study the relationship between the degree of internationalization and firm performance.In one sense,this further enriches the research content of enterprise performance.In addition,we aim to reveal the problem existed in multinational management of A-share companies,give some advices on how to enhance effectively the comprehensive strength in the international competition to A-share companies,provide some theoretical reference on making related policies for the government,and offer some inspiration for the future research in this field.