The Effect of External Market Demand Scale on the Firm's Export Domestic Value Added Rate—A Study from the Perspective of Firm Life Cycle
In the post-crisis era,the global economy is uncertain.In particular,destabilizing factors in the international economic situation have increased in recent years,such as the rise of anti-globalization and trade protectionism,increased trade frictions and public health emergencies of international concern.These will cause repeated fluctuations in international market demand.As the mainstay of trade activities,will the changes in the international market environment,especially the demand shock,have an impact on the export upgrading of Chinese enterprises?Based on the theoretical foundation of how external market demand affects the domestic value added rate of enterprises,this paper takes the sample data of China's industrial export enterprises from 2000 to 2013,explores the impact and mechanism of the scale of external market demand on the domestic value added rate of enterprises,and discusses the impact and mechanism in detail from the perspective of enterprise life cycle heterogeneity.The research conclusions are as follows.(1)The increase of external market demand will promote the firm's domestic value added rate.And the mechanism test shows that the positive effect of export scale dominates and mitigates the negative effect of competition.Therefore,the final result presented is the positive effect of increasing the scale of external market demand on the domestic value added rate of enterprises.(2)The promoting effect of the external market demand effect on the domestic value added rate of enterprises is more obvious for enterprises in the mature period,followed by enterprises in the growth period,with the least promoting effect for enterprises in the declining period.Specifically,as the export scale effect has a greater impact on improving the domestic value added rate of mature enterprises,the expansion of external market demand also plays a greater role in promoting the domestic value added rate of export enterprises.Meanwhile,enterprises in a recession benefit less from the export scale effect and they hardly resist market competition risks,so the expansion of external market demand has the least promoting effect on their export domestic value added rate.(3)The heterogeneity analysis of other dimensions found that the external market size has a more obvious effect on low-tech enterprises,processing trade enterprises and enterprises exporting to developed countries.From the perspective of the trade in practice,first,the government should promote the construction of a high-standard opening-up platform,establish trade cooperation with more countries,sign free trade agreements,and actively promote the process of regional trade agreements such as CPTPP or DEPA,so as to help enterprises expand the group of trade partners and create a stable trade environment for enterprises.Second,the life cycle of the enterprise will achieve the stage leap with the strengthening of management,strategic adjustment,continuous innovation and so on.Therefore,enterprises should strengthen the effective management of their life cycle,promote their own sustainable and healthy growth,and maintain abundant market vitality.Finally,enterprises should improve core competitiveness,enhance technological innovation and produce products more in line with market demand,which will help enterprises to better seize the opportunity in the face of external demand expansion and take the lead in competition.
External market demand scaleFirm life cycleExport scale effectCompetitive effectExport domestic value added rate
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