The Promotion Effect of Manufacturing Digital Empowerment on OFDI:Evidence from Digital Service Input
The current fundamental logic for the enterprises'internationalization lies in digitally empowering them to construct new international competi-tive advantages.This paper utilizes Chinese time-series input-output data to measure the extent of digital service input in the manufacturing indus-try.Employing comprehensive micro-enterprise investment data,it systematically explores the determinants and impact mechanisms of manufactur-ing enterprises'outward foreign direct investment from the perspective of digital service input.The research reveals that digital service input in man-ufacturing have a significantly positive effect on multinational investment activities,both on OFDI decisions and on OFDI scales.This conclusion re-mains valid even after undergoing a series of rigorous tests for robustness and endogeneity.Digital service input enhances enterprises'internationali-zation capabilities through the dual pathways of value creation and service-oriented manufacturing effects.Heterogeneity analysis demonstrates that the enabling effect of digital services is more pronounced in efficiency-seeking and market-seeking OFDI,as well as in capital and technology inten-sive enterprises.Additionally,digital advantages fail to broaden the horizontal boundaries(investment breadth)of enterprise investment but con-tribute to the extension of vertical boundaries(investment depth);under digital service empowerment,OFDI exhibits structural characteristics of transitioning to productive service sectors,particularly in developed countries.This study provides decision-making support for enterprises'high-lev-el international expansion by facilitating the integration of digital and real operations.
万方数据
维普
