OFDI,Diversification Of Knowledge Sources And Corporate Innovation

Existing research shows that OFDI has a positive effect on corporation innovation.According to the previous researches,this article believes that OFDI can promote the quantity and quality of corporation innovation.In the aspect of quality,this paper uses the mean value of a single patent’s citation amount in a corporation and the total citations’ amount of a corporation’s patents to represent the explained variable,which is from the total and averages to examine the enterprises’ innovation.It can ensure the rigor of the results greatly.At the same time,after analyzing the current literature,this paper discovers that the majority of present researches pay attention to the factors influencing OFDI’s innovation to enterprise,without much research on its mechanism.Most of the existing mechanisms are well-known reverse spillover effects,market competition effects and etc.However,there are not too many studies on the knowledge sources acquired in the process of OFDI,and several relevant existing studies only divide enterprise knowledge sources into internal and external sources of enterprises.This paper will refine the external knowledge sources of enterprises,and deeply explore the effect of OFDI enterprise knowledge source diversification on the quantity and quality of enterprise innovation.After the empirical test,the article comes to the conclusions as following: 1.OFDI can considerably promote the innovation effect of enterprises in the two dimensions of quantity and quality.Among them,OFDI has the best innovation effect on invention patents,and basically has no effect on design patents.Moreover,after considering the time effect,it is found that OFDI can promote the number of enterprise innovations for up to four periods,of which T+1 period achieve the best.As for the detection of innovation quality,the innovation quality with the sum of patent citations’ number as the proxy variable is significantly better than the average patent citations’ number,which may be caused by the low patent quality of the whole enterprises in China and the defects of the samples themselves.2.Diversification of knowledge sources is the mechanism by which OFDI promotes the quantity and quality of corporation innovation.3.The mediating effect of the diversified learning sources is stronger on the quality of corporation innovation than the quantity.From a quality standpoint,the test results of the two measurement indicators are completely mediating.But in the quantity of innovation,when all patents are used as a measure,the diversification of knowledge sources is only a partial intermediary.Based on the tests above,this article will put forward relevant recommendations to help corporations maximize the role of OFDI’ s innovation,which is from the point of view of enterprises,industries and countries.For corporations,this article comes up with three proposals: 1.Improve the accuracy of management;2.Strengthen digital construction;3.Strengthen environmental risk awareness.In the future,enterprises should strengthen the training of multinational talents,adjust organizational structure,and improve the sensitivity to risks,so as to face the ever-changing world environment,timely grasp the dividends of the Times,and respond keenly to market information.From the perspective of industry,this paper puts forward two suggestions: 1.Concentrate on investment in developed countries;2.Combine the exporting industry on “One Belt One Road”.For the industry,it is essential to get the utmost out of the national support,vigorously develop OFDI by optimizing "One Belt One Road" platform,accelerate the innovation speed in technology and communicate as much as possible with high-tech corporations.For the nation,this article has three suggestions:1.Adhere to market orientation;2.Carry out international cooperation to achieve mutual benefit and win-win results;3.Establish a virtuous circle internally.From a macro perspective,the state plays a more vital role in building platforms and guiding.Excessive intervention will inhibit economic development.Therefore,it is particularly important to moderately delegate power and provide a platform for enterprises to “go out”.The state also needs to introduce external resources into the country through appropriate welfare policies,so as to realize the dual combination of "going out" and "bringing in."...