The Influence Of Innovation On Enterprise Performance

Innovation is the theme of the contemporary era.In the era of knowledge economy,enterprises must improve their innovation ability if they want to maintain long-term development.Although innovation has an important impact on the economic performance of enterprises,previous studies have shown that not all enterprises can get returns from innovation,and empirical evidence shows that there is a significant difference in the impact of innovation on enterprise performance.This study indicates that the reason for the difference between the results of previous studies is that they do not fully understand the factors affecting the relationship between innovation and performance.Under the background of economic globalization,internationalization of enterprises is the trend of The Times,internationalization is an important business strategy of enterprises,can internationalization increase the innovation performance of enterprises? Although past studies have investigated the impact of factors such as firm size and technical capabilities on innovation earnings,further discussion is needed on other firm-specific characteristics that may be required to capture innovation value.This study focuses on one of these characteristics and shows that the degree of internationalization of an enterprise affects the ability of an enterprise to benefit from innovation.This study discusses how internationalization affects the contribution of enterprise innovation to enterprise performance.Firstly,it discusses the influence of internationalization degree on enterprise innovation ability,secondly,it investigates the influence of internationalization degree on the appropriability of enterprise innovation,and finally,it explains the challenges that internationalization brings to enterprises.Then,based on the data of Chinese manufacturing enterprises listed on the main board from 2013 to 2018,this paper adopts the conversion model of cobb-douglas production function,descriptive analysis method,empirical analysis method and robustness analysis to studies the subject.The research lags the innovation variables by two years and compares the regression results of the degree of non-participation in internationalization and the degree of participation in internationalization.Meanwhile,the samples are divided into two groups by using the degree of internationalization index.By comparing the influence of high and low degree of internationalization on the relationship between enterprise innovation and performance,the following conclusions are drawn:First,internationalization moderates the relationship between enterprise innovation and performance,and internationalization can improve the rate of return on innovation.Second,in previous studies,the real benefits of innovation investment may be underestimated.Thirdly,there is a threshold for these moderating effect of internationalization on the relationship between innovation and performance,under which the cost of innovation may exceed its potential benefits.