Job Uncertainty in the U.S.,Human Capital Cross-Border Migration and Chinese Firms'Innovation
Under the impact of multiple factors such as"anti-globalization"and the"priority of local employment",the U.S.government has implemented a series of visa and green card policy adjustments for foreign workers to ensure the priority of local employment,which has greatly increased the threshold and difficulty of employment in the U.S.,making the uncertainty faced by foreign workers in employment in the U.S.increases.In this context,along with the increasing uncertainty of foreign workers'employment in the U.S.,there is still a lack of academic research on whether this will create a positive external environment for the quality upgrade of China's innovation,through which transmission paths it will affect Chinese enterprises'innovation,and what impact the above effects will have on China's economic development.The contribution of this paper is mainly reflected in the following aspects:First,this paper provides a new dimension to the research related to the drivers of corporate innovation from the perspective of cross-border migration of human capital.Existing studies have mostly focused on the impact of factors such as credit resources,corporate governance,and industrial policy on corporate innovation,but neglect the role of talent.This paper breaks through this limitation and explores the impact of cross-border migration of human capital on Chinese firms'innovation under the uncertainty of the U.S.job market.This new perspective contributes to a deeper understanding of the talent-driven nature of corporate innovation.Second,from the perspective of corporate innovation,this paper explores the consequences of international talent mobility.Unlike previous studies focusing on the role of returnees in improving corporate governance and business performance,this paper concentrates on how international talent mobility affects firms'innovation capability and innovation process.It not only provides a new perspective for understanding the complex economic effects of international talent mobility,but also provides a new theoretical framework for studying the specific contribution of international talent to corporate innovation.Finally,this paper provides a new research paradigm in the field of economic policy uncertainty by quantifying expatriate employment uncertainty in the U.S.through text analysis,and machine learning.Prior studies have mostly measured economic policy uncertainty based on specific perspectives,such as trade policy,interest rate policy,and political policy,etc.This paper measures job policy uncertainty in the U.S.using mainstream U.S.news newspapers as a textual vehicle to help measure variables that have been difficult to observe in previous studies.This paper sets the study in the scenario of foreign workers'job uncertainty in the U.S.,uses advanced technological tools such as text analysis and machine learning to construct employment uncertainty indicators in the U.S.,and focuses on the relationship between employment uncertainty in the U.S.and innovation in Chinese companies.The study shows that:First,increased employment uncertainty in the U.S.significantly contributes to increased innovation in China.Second,this paper identifies the mechanisms through which employment uncertainty in the United States affects innovation in China from the perspective of factor agglomeration and knowledge spillovers.In addition,this positive impact is stronger in the east and central regions,in firms with high industry labor intensity and high employee care.The research on the above issues,in the short term,can help inspire expanding the introduction of international talents under the new pattern of globalization and bringing into play the R&D promotion effect of cross-border talent mobility,and in the long term,it can help provide theoretical support for promoting science and technology innovation drive and fostering new highlands of economic development under the major environment of economic downturn and aging population.
job uncertainty in the U.S.human capital cross-border migrationcorporate innovationfactor agglomerationknowledge spillover
NETL
NSTL
万方数据
维普
