Research On The Influence Of Knowledge Distance On The Internationalization Speed Of Enterprises In Emerging Economies

Since the 21 st century,emerging economies have developed rapidly and made remarkable achievements in such fields as foreign investment.As a representative country of emerging economies,China has performed better in relevant fields,with its total foreign investment and foreign trade exports growing rapidly.In 2013,China’s foreign investment exceeded the threshold of 100 billion dollars.In 2014,China’s foreign investment exceeded Japan’s and leapt to become the world’s second largest foreign investor.By 2020,China’s outward direct investment will even reach US $153.71 billion,ranking first in the world in terms of flow scale.The rapid growth of foreign investment has undoubtedly had a significant impact on China’s economy.It has not only promoted a new round of high-level opening up in China,but also promoted the transformation of China’s economic growth model.In this context,although most Chinese enterprises have developed very well in overseas investment,there are still some enterprises that lack understanding of the host country’s market,knowledge,technology and other aspects when investing overseas,and frequent conflicts lead to low degree of internationalization,or slow pace of internationalization,or even withdrawal of capital.Therefore,will the analysis of knowledge distance affect the speed of enterprise internationalization? How does it affect? It has very important reality and necessity.However,in the current research related to the speed of enterprise internationalization,scholars are more focused on exploring the impact of enterprise and industry level on the speed of enterprise internationalization,such as enterprise executives,enterprise organization size and industrial structure,and the research on the national level is less,while the research on the national level also focuses on factors such as system,culture and geography,and the research on knowledge distance is less,.Therefore,this paper takes China’s A-share listed companies that set up subsidiaries overseas from 2001 to 2019 as the research object,uses the data in Guotai An database and the patent database of listed companies to explore the impact of knowledge distance on the speed of enterprise internationalization,and tests the regulatory role of enterprise R&D and innovation capabilities and the nature of enterprise equity.This is a supplement and expansion of the existing research,which not only enriches the research on the impact of national factors on the speed of enterprise internationalization,but also enriches the relevant content of knowledge distance.At the same time,this also suggests that the host country with appropriate knowledge distance should be selected when making foreign investment;When investing abroad,enterprises should consider their own equity,R&D and innovation capabilities and other suggestions.Thus,it has certain theoretical guiding significance for enterprises in emerging economies to implement the internationalization strategy.