Research About The Impact Of OFDI Reverse Technology Spillover On Innovation Capability Of Chinese Enterprises

As a latecomer to industrialization,How to make full use of the advantage of developing countries to promote economic growth and improve the ability of innovation has always been one of the topics studied by economists.As the largest developing country,China has benefited from this advantage.Since the implementation of reform and opening up,China has absorbed a large number of foreign direct investment,and achieved rapid economic development;and then,with the accession to the WTO,China's enterprises has started to execute the police of foreign direct investment.According to the data of the Ministry of commerce,China's foreign direct investment flows has reached $145 billion 670 million in 2015,which ranked second in the global countries(regions)for the first time and achieve a historic breakthrough.In this process,many scholars at home and abroad has found that OFDI can reverse the technology spillover effect by its demonstration model effect,human capital flow effect,competition effect and correlation effect,thus realize the transfer of new technologies and finish the process of OFDI.In this paper,we make use of empirical analysis and take the micro level of enterprise as the breakthrough point,then specific analysis of the impact of OFDI reverse technology spillover on China's enterprise innovation capability.So,we first give a summary of the current situation of OFDI and the development of enterprise innovation in China;and then probes into its realization mechanism,influencing factors and the innovation path,at the same time,we take advantage of the micro sample data of listed companies and establish relevant econometric models to arrival a conclusion about how can our enterprises realize the innovation ability in this process.In the paper,we establish econometric model by using the data of 366 companies from 2008 to 2015 and make a detailed empirical analysis from three levels which are the results of research and development,absorptive capacity and external support.Therefore,the empirical results show that the proportion of overseas assets,R & D investment of enterprises,labor productivity,corporate life cycle and corporate financial situation,all will have a positive impact on the ability of enterprises to achieve innovation,which means the more research and development results,the stronger the absorptive capacity and the external support,the more conducive to the realization of independent innovation capability.The innovation of this paper is mainly manifested in the following two aspects: for the first,proceeding with the micro level of the enterprise,this paper analyzes the mechanism and path of the realization of the independent innovation capability in the OFDI reverse technology spillover in China which pointed out the direction for the development of enterprises and meanwhile provided a beneficial supplement to the current research on the macro level analysis.For the second,the selected data was updated to the year of 2015.,At the same time,in terms of the selection of the core variables,we use the proportion of foreign assets of enterprises instead of the traditional previous offshore assets value as a measure of the OFDI reverse technology spillover,which make the variable index better reflect the vertical comparison of enterprise.