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在新兴市场背景下企业为了生存和发展与政府保持着不同程度的关系,对政府关系投入的不同也导致了企业国际化绩效的不同。基于资源依赖理论研究了在新兴市场中企业对母国政府的关系投入与其出口强度之间的关系,结果表明两者的关系呈倒U型,并受到企业创新能力的正向调节。具体来说,在企业对政府关系投入的较低水平下,政府关系能为其国际化带来资源好处从而促进其出口;但若投入过度,政府关系给企业出口所带来的好处却下降了,对政府关系的过度依赖给出口产生了负面影响。另外,也证明了创新能力加强了企业对政府的关系投入对出口的积极影响,而在投入过度的情况下能减弱其对出口产生的负面影响。基于世界银行在2011—2013年收集的中国企业的截面数据、采用Tobit回归分析法支持了以上结论。说明了在新兴市场中并不是对政府关系投入得越多越好,也并不是所有企业在国际化的过程中都具有利用这种优势的能力,企业自身的创新能力对于其国际化发展来说更为重要。
In the context of emerging markets, the enterprises maintain different degrees of relationship with the government in order to survive and develop, and the differences in their investment in government relations also lead to the different international performance of the enterprises. Based on the theory of resource dependence, this paper studies the relationship between firm’s investment in home country government and its export strength in emerging markets. The results show that the relationship between the two is inverted U-shaped and positively adjusted by the innovation ability of enterprises. Specifically, under the relatively low level of investment in government relations, government relations can bring about resource benefits to their internationalization and thus promote their exports. However, if the investment is excessive, the benefits of government relations to the export of enterprises have declined The over-dependence on government relations has had a negative impact on exports. In addition, it has also been demonstrated that innovation capacity enhances the positive impact of business-to-government investment on exports, while over-investment can reduce its negative impact on exports. Based on the cross-sectional data of Chinese enterprises collected by the World Bank in 2011-2013, Tobit regression analysis is adopted to support the above conclusion. This shows that in emerging markets, not as much as possible to invest more in government relations, and not all companies in the internationalization process have the ability to take advantage of this, the company’s own ability to innovate for its international development More important.