Research On The Relationship Between The Degree Of Internationalization And Business Performance Of Chinese Automobile Manufacturing Enterprises

Economic globalization and integration are the important characteristics of today's world economic development.Enterprises must integrate into the competitive international market if they would like to achieve long-term development.So internationalized operation will become an inevitable choice for enterprises.Chinese enterprises also actively participate in the international division of labor,and constantly improve the degree of openness through “bringing in” and “going out”.With the deepening of the internationalization of enterprises,the status of business performance has become an significant criterion for testing the effectiveness of internationalization.In the process of “going out”,how is the international operation status of Chinese enterprises,whether international operations can be profitable,whether the degree of enterprise internationalization is consistent with enterprise performance,and how to grasp the degree of enterprise internationalization and effectively improve performance level,these questions will become the main content of this study.China's automobile manufacturing companies mainly choose the methods of export trade and foreign direct investment for internationalization,and they have gone through four stages: the initial entry period of overseas markets,the expansion period of overseas markets,the implementation of localization strategies,and the strengthening of localization strategies.Now,the export trade volume of China's automobile manufacturing enterprises has steadily increased,and foreign direct investment has been booming.Next,a dynamic panel data model is established and the System GMM analysis method is used based on the data of 31 listed automobile manufacturing enterprises in 2009-2018.Finally,it concluded that the degree of internationalization of China's automobile manufacturing enterprises has a U-shaped correlation with their performance.Then,corresponding suggestions are made for the research results.Chinese auto manufacturers need to accelerate their pace and improve their international competitiveness.At the national level,the government should implement differentiated support policies based on enterprise characteristics;encourage enterprises to actively integrate into important national strategies and the “Belt and Road” initiative;establish a risk prevention mechanism;raise the standards of China's automobile industry so that they can meet the international standards.At the enterprise level,enterprises should understand the situation of the host country and prepare for market entry;adjust the internationalization strategy according to the actual situation of the enterprise;improve R ? D efficiency and enhance product core competitiveness;control the scale of the enterprise and avoid blind expansion;private enterprises give full play to vitality,and state-owned enterprises accelerate reform.