The Study On OFDI's Impart On Innovation Ability Of Prive Enterprises In Zhejiang Province

As China's economy has entered The New Normal,economy development needs to shift from extensive development to sustainable development;economic structure needs to be transformed and upgraded,therefore the demand for independent innovation development is also growing.As one of the important channels of technology spillover,OFDI(Outward Foreign Direct Investment)is an important way for Chinese enterprises learning advanced technology knowledge and management experience from developed countries,so as to improve their independent innovation capacity.Zhejiang private enterprises are important part of Zhejiang ‘s OFDI.Compared with state-owned enterprises,they are more flexible and efficient in investing.The study on the impart of OFDI on enterprises' innovation ability of Zhejiang private enterprises,can accurately guide Zhejiang private enterprises to optimize the layout of OFDI activities,improve their independent innovation ability by using and absorbing overseas knowledge resources and human capital resources.Firstly,this paper reviews the relevant theories of OFDI,its Reverse Technology Spillovers,and OFDI's impart on innovation ability of enterprises.Secondly,the paper investigates the current situation of OFDI of Zhejiang private enterprises,and its innovation ability in order to fully understand related situations.Thirdly,this paper expounds that OFDI has an impact on the innovation ability of enterprises through four mechanisms in four ways.On this basis,Zhejiang Geely Group,a representative private enterprise in Zhejiang province,is selected to conduct a case study on the its OFDI development and innovation impact from OFDI.Fourthly,we choose 201 listed private enterprises in Zhejiang province,and establish fixed effect model to analyze OFDI's impart on intonation ability,and also based on the analysis of theory,we choose some effects reasons as controlled variables to study.The result shows that Zhejiang private enterprises' OFDI has great positive effect to its innovation ability,and more R&D spent,better this effect is,and bigger the scale is,better innovation ability is.In the meanwhile,investing both developed countries and developing countries can promote the innovation ability.Finally,based on the above research results,this paper proposes some suggestions for government and private enterprises to have better decisions towards OFDI.