R&d-type OFDI And Enterprise’s Innovation Performance Research

In 2000, after China formally proposed the strategy of "going out", the development of OFDI entered a new historical stage, which was fairly representative in developing countries. In 2014,OFDI flow once again hit a new record that reached $123.12 billion, and OFDI stock in China rose to number 8 in the world ranking. Our companies penetrated international markets and participated in global competition to its full potential. Additionally, the motives of OFDI switched from the original resource, market-oriented towards technology-oriented gradually. Technology-oriented OFDI acquired leading-edge technology through overseas R&D institutions, mergers and other ways, then it achieved the transfer and diffusion of technology through the effects of the reverse technology spillovers, effectively broke the barriers about the introduction of technology.By the combination of qualitative and quantitative methods, from combing related theories of OFDI, this research analyzes the development status and motivation of Chinese enterprise’s OFDI.Secondly, based on reverse technology spillovers path and the influence factors of our enterprise’s R&D-type OFDI, this research proposes theoretical assumptions. Then, according to theoretical assumptions to build econometric model, based on the data from 2008 to 2014 of 60 listed companies which carry out the R&D-type OFDI, it uses the quantitative investigation to research R&D-type OFDI effects on enterprise’s innovation performance. Finally, the paper puts forward relevant policy suggestions and the enterprise’s practice guidance. The results show that:(1)Regarding R&D-type OFDI, the establishment of overseas R&D institutions and Overseas M&A can significantly enhance enterprise’s innovation performance, and the participation in overseas R&D alliances has certain inhibitory effect on innovative performance which is in low level of significance. In addition, in view of the different types of enterprise’s innovation performance,reverse technology spillover effects of R&D-type OFDI are not the same.(2) Referring to developing countries, to carry out R&D-type OFDI in developed countries makes reverse technology spillovers effects more apparent and the promotion of enterprise’s innovation performance more outstanding.(3) Compared with state-owned enterprises which are in a high monopoly market, private enterprises with high level of market competition have higher innovation effect in R&D-type OFDI. The fierce market competition environment faced by private enterprise forces it to focus on learning and absorbing knowledge in R&D-type OFDI, thus the innovation performance is better.