如何设计国际合资企业的控制机制：基于创新视角的一个整合模型研究

随着国际合资企业（IJV）数量不断增加，合资双方都想通过IJV逐步实现自身战略目标，于是对控制权展开激烈争夺，最终导致创新绩效下降。为了解释并避免这个现象，本文以2018年制造业企业创新调查问卷中的225家IJV企业为样本，构建层次回归模型，实证检验了IJV的控制机制与创新绩效间的关系，以及创新资金来源结构的调节作用。结果表明，双方均衡的股权结构能够为IJV带来最高的产品和工艺创新绩效，中方控股的次之，外方控股的最低；IJV知识产权保护与产品创新绩效间存在倒U型关系，与工艺创新绩效间存在显著线性正相关；文化控制对IJV产品创新绩效与工艺创新绩效均有显著的正向影响；创新资金来源结构会显著正向调节知识产权保护与工艺创新绩效间的关系，且外部主导型创新资金来源结构正向调节作用最高，内部主导型次之，均衡型最低。同时为在华IJV掌握控制权并提升创新绩效提出了对策建议。

How to Design the Control Mechanism of International Joint Ventures: An Integrated Model Study Based on the Perspective of Innovation

With the increasing number of international joint ventures (IJVs), both sides of the joint venture want to gradually achieve their strategic objectives through IJVs, so they compete fiercely for control, which eventually leads to the decline of innovation performance. In order to explain and avoid this phenomenon, this paper took 225 IJV enterprises in the 2018 manufacturing enterprise innovation questionnaire as samples, and constructed a hierarchical regression model to empirically test the relationship between IJV''s control mechanism and innovation performance, as well as the regulatory effect of innovation capital source structure. The results show that: The balanced shareholding structure of the two parties can bring the highest product and process innovation performance to IJV, followed by The Chinese party is the second, and the foreign party is the lowest; There is an inverted U-shaped relationship between the IJV intellectual property protection and the product innovation performance, and there is a significant linear positive correlation between the number of process innovation performance; Cultural control has a significant positive impact on the innovation performance and process innovation performance of IJVs; The structure of innovation funding sources will significantly and positively adjust the relationship between intellectual property protection and process innovation performance, and the external-led innovation funding source structure has the highest positive adjustment effect, followed by internal dominance, and the lowest equilibrium type. At the same time, it also proposes countermeasures for IJV in China to seize control and improve innovation performance.