The Research On Therelationship Between Ownership Advantage From Institution And Enterprise Performanceof Chinese Internationalizing Enterprises

With the continuous development of global economic integration,Chinese enterprises go to internationalization,participation in the global economic competition,since China joined the world trade organization,Chinese enterprises have gained broader development space,and provide the conditions for Chinese enterprises to enter the international stage.Chinese enterprises face the double competition pressure from domestic and abroad,and the construction of international competitive advantage is the key to the survival and development of enterprises.This paper discusses the relationship between the system ownership advantages and performance of Chinese international enterprises,and answers the source of the competitive advantages of Chinese enterprises.Based on the literature review and review of institutional ownership,enterprise performance,political relevance and internationalization,this paper discusses the relationship between variables and logic derivation,regression analysis and hypothesis testingof 1,205 sample dataof Chinese listed companies from 2013 to 2015.Finally,by discussing the empirical results,the conclusions of this paper are as follows: First,in the process of internationalization of Chinese enterprises,institutional ownership advantage has a positive effect on the improvement of enterprise performance.Second,the maintenance of political connections of Chinese international enterprises takes advantage of the investment of institutional ownership advantage.When the degree of political connection increases,the positive relationship between ownership advantage and corporate performance is weakened.Third,under the influence of the degree of internationalization,the higher the degree of internationalization,the weakening of the external institutional ownership advantage is positively related to corporate performance,while the endogenous institutional ownership advantage plays a better role.The above conclusion shows that Oi is one of the breakthrough in the source of Chinese enterprises internationalization,which not only participate in the academic research of OLI theory,enrich the connotation of OLI theory,but also respond to the call by academia to address the institutional effect of the internationalization of enterprises in emerging economies.It is more special significance to the current management practice of Chinese enterprises,and it has important practical significance to guide the enterprise behavior and government to formulate relevant policies.