中国企业国际化多样性与创新绩效

国际化多样性作为一种成长战略，是企业国际化进程中的重要决策，然而当前关于企业国际化多样性对创新的影响机制研究尚为缺乏。以沪深两市A股上市公司为研究样本，实证检验了国际化多样性对企业创新绩效的影响，并在此基础上分析了企业国有股权比例、东道国制度水平对国际化多样性与企业创新绩效关系的调节作用。结果表明，国际化多样性对企业创新绩效有显著正向效应，东道国制度发展水平对两者关系具有正向调节作用；国有股权对两者关系的调节作用不显著。该结论丰富了以中国为代表的新兴经济体国际化研究成果，为国际化多样性对企业创新绩效的积极作用提供了新证据。

International Diversification Effects on Innovation Performance in Chinese MNEs

As a growth strategy,international diversification has a significant potential impact on firm performance.However,existing research lacks attention to the mechanism between internationalization and innovation.This paper examines how international diversification influences innovation performance of MNEs,using the date of Chinese listed firms.Our results shows that international diversification has a positive effect on the innovation performance of the MNEs,and the effect will be more pronounced when the host country institutional development is strong enough.The moderating effect of state ownership is not significant.This paper enrich the finding on internationalization of emerging economies and provides new evidence the international diversification plays an important role on MNEs innovation performance.