Research On Impact Of Chinese Manufacturing Enterprises Internationalization Speed Of Performance

Now under the rapid development of economic globalization, the pattern of global industry has undergone tremendous changes. The emergence of multinational corporations which gradually replacing the traditional enterprise become a mainstream of leading global economic development. At the same time, Chinese companies are also actively exploring for their own international development road. International operation has become a new way to deepen the development of enterprises. As the result of the growing economic strength, broadening international vision of the executives and guidance of government, More and more Chinese enterprises adopt "go out" strategy, in order to integrate into the wave of global economic integration with proactive stance, which actively promote the development process of internationalization. In recent years, in the process of Chinese enterprises’ internationalization, whose export and foreign direct investment are growing; the negative news of international enterprises is also growing. However, due to the late start and the weak strength of the internationalization of Chinese enterprises, there is a certain gap between the multinational companies in developed countries and developing countries. Therefore, whether the internationalization of Chinese enterprises can profit and how to grasp the speed of internationalization and effectively enhance business performance has become the focus of the academia and the purpose of this paper.Based on UPPSALA model analysis the internationalization of Chinese enterprises path and market selectionthis, and leads to the concept of internationalization speed. This paper studies the relations between international expansion speed and corporate performances, and other institutional factors(technical innovation, human resources etc.) on the regulation of their relationship by using the panel data of Chinese manufacturing listed enterprises in the four years from 2009 to 2012. The empirical results show that:relationship between the speed of internationalization and firm performance inverted U;Technological innovation and firm age on firm performance has a negative regulatory role; The impact of human resources of the enterprise internationalization performance is positive and significant. According to empirical results, this paper argues that Chinese enterprises should continue to enhance their learning ability, accumulate international experience, introduct international professionals and increase the capability of R & D. Although in the early stages of internationalization with the upgrading of the speed of internationalization can significantly enhance corporate performance, but international development to a certain extent that is over the threshold, the faster the pace of internationalization will have a negative impact on performance. With the different of the developed economies fast international enterprise mode, Chinese enterprises can protect the implementation of international strategy through technological innovation.After crossing the threshold of latecomer disadvantage, Chinese enterprises can internationalize with appropriate speed.The main contribution of this paper: the previous vast majority of researches about the relation between internationalization and performance is based on a relatively mature market economy of Western countries, the conclusions of the studies may not apply to enterprises in China; This paper selects Chinese manufacturing listed enterprises as sample, not only can make up for previous researches’ gaps, but also the conclusions on the internationalization of Chinese enterprises guide more targeted, informative and practical.