OFDI’s Influence On Export Diversification Of Chinese Enterprises

Foreign direct investment(OFDI)is an important part of international economic activities.For international companies,as the pace of "going out" continues to advance,the diversification of corporate exports is becoming more and more important.In this context,it is clear that the relationship between foreign direct investment and exports is of great significance.This paper uses the matching data of the Chinese industrial enterprise database,the directory of foreign direct investment enterprises,and the customs database from 2009 to 2013,as well as the foreign direct investment data in the foreign direct investment statistical bulletin,and analyzes by constructing a proxy variable of the outward foreign direct investment of enterprises,The research finds that.the higher the amount of foreign direct investment of Chinese enterprises,the stronger the diversity of enterprise exports.Further research found that the capital-to-labor ratio,total export volume,and export share of enterprises have a certain moderating effect in the above effects.Relatively speaking,enterprises with more capital intensive,higher export value or higher proportion of foreign direct investment will increase the amount of foreign direct investment.The promotion of export diversification is more significant.The results of the mechanism test found that the increase in the amount of foreign direct investment in the increase in the export diversity of enterprises is to a certain extent based on the increase in the productivity of enterprises.The foreign direct investment of enterprises improves the productivity of enterprises through reverse feedback.High-productivity enterprises Able to produce more and more comprehensive products and export,and due to the increase in production capacity,the overall export capacity can be improved,thereby enhancing the export diversity of the company.In addition,the results of the group regression show that the effect of high foreign direct investment in promoting the increase in the diversification of enterprise export is greater and more significant in enterprises with higher productivity,but not significant for enterprises with lower productivity;for total assets the higher or lower two groups of enterprises are both significant.and the enterprises with lower total assets have a greater effect.By further separating the products exported by the company from the market for regression analysis,it is found that increasing the amount of foreign direct investment does not solely promote the increase in the number of export products or the market,but has a more overall effect;at the same time,increasing the amount of foreign direct investment Can make the company’s export product diversity index rise.The policy recommendations of this article are that companies should actively expand the scale of foreign direct investment,apply the help of foreign direct investment to their own market demand and innovation capabilities,and vigorously implement diversified export strategies.At the same time,the country should actively participate in international trade agreements on the one hand to lower the threshold for enterprises to develop export diversification,and on the other hand,they should encourage enterprises to drive development with innovation capabilities to lay a solid foundation for the development of export diversification.