The Impact Of Organizational Capital On The Innovation Efficiency Of Chinese Multinational Manufacturing Enterprises

With the deepening of economic globalization and the development of the knowledge-based economy,intangible assets are a key factor for companies to gain long-term competitive advantage in the increasingly competitive dual domestic and international markets.Organizational capital is an intangible asset unique to an enterprise,a collection of various types of information held by members within the organization and various specific information possessed by the organization.Organizational capital can facilitate the rapid exchange and transmission of information within an enterprise,strengthen the connection and communication between various functional departments,and play an important role in improving the operational efficiency of a company and enhancing its corporate value.At the same time,since the reform and opening up,more and more Chinese enterprises have chosen to adopt an aggressive internationalization strategy,and the degree of internationalization of Chinese enterprises has been increasing,which helps them to explore overseas markets and draw complementary resources from them that are more difficult to obtain in the domestic market;however,the intricate and complex international economic and trade situation poses a more serious challenge to the survival and development of enterprises,and innovation is the key to whether they can survive in the treacherous international market Innovation is a key factor for enterprises to maintain their core competitive advantage in the turbulent international market.The relationship between organizational capital and innovation efficiency has not been unified in existing studies,and the mechanism of the dual dimension of internationalization is not yet clear;based on this,this paper analyses the correlation between organizational capital and innovation efficiency in manufacturing multinational enterprises from the perspective of organizational capital and the moderating effect of internationalization on the relationship between the two.This paper firstly reviews the relevant literature,and then conducts an in-depth analysis of the influence mechanisms between organizational capital,depth and breadth of internationalization and corporate innovation efficiency in the process of corporate internationalization based on theories of corporate capability and organizational learning,and puts forward relevant hypotheses;the data of A-share listed companies in Shanghai and Shenzhen in China from 2012 to 2021 are selected as the research samples,and the research hypotheses are put forward and the model is designed.The study also examines the effect of the depth and breadth of internationalization on the relationship between organizational capital and corporate innovation efficiency.Through theoretical and empirical analyses,the following conclusions were drawn:(1)Organizational capital can positively influence innovation efficiency;this may be due to the fact that organizational capital enables firms to better integrate their own resources,such as information and knowledge,into unique competitive advantages,thus enhancing innovation efficiency.(2)The depth of internationalization enhances the positive effect between organizational capital and innovation efficiency;this may be due to the fact that the increased depth of internationalization brings about scarce and heterogeneous resources needed for innovation,which gives firms a better basis and motivation to innovate.(3)Internationalization breadth weakens the significant positive relationship between organizational capital and innovation efficiency;this may be due to the fact that increased internationalization breadth disperses firms’ innovation resources and more complicated organizational structures reduce the quality and efficiency of their information transfer.In view of the above,this paper argues that in the process of enterprise development,enterprises should strengthen the construction and management of organizational capital,increase the investment in the original accumulation of organizational capital;improve organizational learning ability and give full play to the role of organizational capital in promoting innovation;reduce the information barriers between various levels and departments of enterprises and promote the sharing of knowledge resources;When actively integrating into the international market,enterprises should carefully choose which internationalization strategy to adopt according to their own development,strengthen their understanding of the host market,actively absorb the tacit knowledge of overseas markets and actively seek different and complementary strategic resources.In terms of research significance,this paper creatively incorporates organizational capital,innovation efficiency and the degree of internationalization into one research framework,enriching the relevant research on innovation efficiency in China,while quantifying organizational capital through the perpetual inventory method,breaking through the limitations of traditional measurement methods and being more representative;moreover,existing studies on the relationship between organizational capital and innovation of enterprises in emerging market countries are still insufficient.Also this paper is a useful addition to the research in the field of internationalization.It is useful for promoting enterprises to pay more attention to organizational capital as an important source of "soft power",so as to improve their innovation efficiency in the international market,thereby enhancing their business performance and expanding their influence.