Research on the Relationship Between Outward Foreign Direct Investment and Open Innovation
Foreign direct investment by enterprises is an important driving force for achieving a high level of openness,while open inno-vation provides new momentum for high-quality economic development.By enhancing the efficiency and level of the domestic cy-cle through the international cycle,it can promote the formation of a higher level of dynamic equilibrium in China's economy.U-sing listed companies in China from 2003 to 2022 as a sample,this paper explored whether enterprises'foreign direct investment behavior contributes to open innovation.The research found that the foreign direct investment behavior of enterprises significantly promotes open innovation.After conducting endogeneity tests and robustness tests,the above conclusion still holds.Mechanism analysis revealed that foreign direct investment primarily promotes open innovation in enterprises by increasing the number of re-search and development personnel,enhancing research and development investment levels,and fostering technological progress.Heterogeneity tests indicate that the impact of foreign direct investment on open innovation in enterprises is more significant when the enterprises are state-owned,and when they are in regions with better social business environments and higher levels of social trust.Furthermore,further research indicates that both the speed and scale of foreign direct investment can significantly promote open innovation in enterprises.Against the backdrop of enterprises"going global",conducting open innovation provides theoreti-cal basis and policy recommendations,with certain theoretical and practical significance.
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