The Impact of OFDI on Innovation Performance——Inverted U-shaped Regulation Effect Based on Dynamic Integration Capabilities
In the context of global economic integration and"mass entrepreneurship and innova-tion",the innovation awareness and capability of listed companies in China have been enhanced.And how listed companies affect corporate innovation performance through OFDI has important research value.Based on the data of 2123 listed companies in China from 2007 to 2020,we examined the impact of OFDI on innovation performance and the mechanism of dynamic integration capability of listed companies using the double difference method.The results found that:OFDI by listed compa-nies has a significant positive impact on the innovation performance of enterprises,and this positive effect exists dynamically and persistently,and will be affected by the nature of ownership,region and industry.In addition,the dynamic integration ability of companies plays an inverted U-shaped moder-ating role in the relationship between OFDI and innovation performance,but the effect is stronger in companies with strong dynamic integration ability than in companies with weak dynamic integration ability.Moreover,the dynamic integration capability of firms plays an inverted U-shaped moderating role in the relationship between OFDI and innovation performance,but the mechanism of influence differs between firms with strong and weak dynamic integration capability.Finally,feasible sugges-tions are put forward in terms of government management innovation outcomes and firms'strength-ening of dynamic integration capability.
OFDIInnovation performanceDifference in differenceInverted U-shaped moderat-ing effect
NETL
NSTL
万方数据
