The Host country's Digital Economy and the Overseas Operation of Chinese MNCs
When the era of global digital economy coming,multinational corporations pay an attention to the application of digi-tal information technology in global operation.However,it remains to be studied whether the development of digital economy can help overseas subsidiaries of multinational corporations to improve their profitability.Based on the data of Chinese listed companies from 2008 to 2021,this paper empirically tests the impact of host country digital economy on the operating perfor-mance of Chinese overseas subsidiaries.The results show that the digital economy of the host country significantly improves the operating performance of overseas subsidiaries.Mechanism test found that the main channel is the digital economy to improve the total factor productivity of the host country and to help multinational corporations overcome the disadvantages of outsiders.According to the heterogeneity test at the country and corporate level,it is found that:Firstly,the digital economy in less devel-oped countries has a more obvious effect on the performance of subsidiaries.Secondly,the digital economy of the host country can improve the performance of non-digital enterprises.Thirdly,the digital economy of the host country plays a significant role in improving the performance of subsidiaries with low productivity.
万方数据
