Research On Factors Affect The Exports Technology Contents Of China's Listed Manufacturing Companies

Manufacturing industry is still the pillar industry of our country.In recent years,our country's economy has continued to develop and internet technology has risen and developed rapidly.China's manufacturing companies are also facing enormous challenges and are constantly seeking for transformation and development.The globalization of economy,finance,express and so on makes the circulation of global products more convenient,and also puts forward higher requirements on product quality.The technological contents of China's manufacturing exports are the focus of many scholars at home and abroad,but their focus is mainly on the country,industry and other macro levels.Limited to the availability of data and the complexity of the analysis,no scholars research on the technical contents of exports of enterprises.The enterprises also need to improve the short board and seek new breakthroughs according to their own characteristics.Therefore,this paper studies the important factors that affect the technological contents of exports of the enterprises with the data of China's listed manufacturing companies,in order to provide the Chinese manufacturing companies theoretical reference.The article firstly sorts out the domestic and foreign scholars' literature related to the technical contents of exports and extracts the main influencing factors of the technological contents of exports.Then it studies the mechanism of action of these influencing factors and considers that the enterprise FDI spillovers,corporate R&D investment,human capital of enterprises,and the size of corporate economy have a positive impact on the technological contents of exports,while the degree of dependence on import trade negatively affects the technical contents of exports.Prior to the empirical test,this article calculates the technical contents of exports at the industry level and enterprise level of China's listed manufacturing enterprises.It finds that the technical contents of exports in different industries are different.This is related to the industry's technical attribution and the proportion of the industry's exports to China's total exports.The exports technical contents of enterprises are also have a big difference.The main reasons are exports contents of industry which the company belongs to and the proportion of company's overseas operating income to its total income.Then,this paper constructs three econometric models to empirically analyze the influencing factors of the exports technical contents.The results show that the enterprise FDI spillovers,corporate R&D investment,and the industry property of the enterprise are significantly positively affecting the technical contents of exports,and the import trade dependence is significantly negatively affect the technical contents of exports.After increasing the cross-terms of each variable,the cross effects of FDI spillovers with corporate R&D investment,with corporate human capital levels,with corporate economic scale all significantly positively affected the technological contents of exports.Judging from the lagged explanatory variables,the impacts of FDI spillovers,corporate R&D investment,corporate human capital levels,and corporate economic scale on the product lagging period are significantly positive.The empirical analysis results basically verify the theoretical hypothesis of the paper,and provide a theoretical basis for proposing reasonable suggestions in the following text.Finally,based on the research conclusions,this paper proposes the national government to create a friendly and fair foreign investment environment,pay attention to investment in education and training,emphasis on the development of mid-tech and high-tech enterprises.And the paper proposes the manufacturing enterprises focus on training of employees,exchanges and cooperation with foreign companies,promotion of corporate transformation and so on.