OFDI?Global Innovation Network Embedding And Productivity Improvement

In the context of economic globalization,Chinese enterprises carry out foreign direct investment actively under the guidance of the "going out" strategy.At present,China's outward foreign direct investment increases dramatically.Enterprises embed the global innovation network through the transfer of R&D activities to improve innovation ability,to enhance the competitiveness and optimize the industrial structure.Based on the micro-data of high-tech industry,this study analyzes the relationship between OFDI,global innovation network embedding and productivity.The purpose of this study is to provide new empirical evidence for the theoretical research of global innovation network embedding,and to provide theoretical guidance for Chinese enterprises to integrate into global innovation network.This study combines qualitative and quantitative methods.Firstly,it analyzes the motivation of global innovation network embedding,and divided it into four categories,including resource-seeking,market-seeking,technology-seeking and efficiency – seeking.Secondly,it summarizes the theories of innovation network embedding theory,foreign investment theory and knowledge learning theory,and then puts forward the theoretical hypothesis and establishes the relationship model between OFDI,global innovation network embedding and enterprise productivity.Then,we construct the panel database of China's high-tech industry,and investigate the productivity effect of global innovation network embedding based on OFDI channel.Finally,the study puts forward policy recommendations.The results show that:(1)The contracted global innovation network has no significantly positive impact on the productivity.The equity-based innovation network embedding has a negative impact on the productivity in the current period,but the impact is not significant,and the lagging item has a significant positive impact.(2)Productivity effects are heterogeneous.For large-scale enterprises,the contractual innovation network embedding and the equity-based innovation network embedding both have positive impacts on the productivity of enterprises.For small or medium enterprises,the contractual innovation network embedding has a negative impact on enterprise productivity,and the equity-based innovation network embedding has a positive impact.All high-tech industries can enhance their productivity through equity-based innovation network embedding.(3)The absorptive capacity plays a positive role in the relationship between the productivity and the equity-based innovation network embedding through overseas subsidiaries.The innovation ability of the host country plays a positive role in the positive relationship between the productivity and the contracted innovation network embedding.