Study On The Influence Of OFDI On The Innovation Performance Of Chinese Manufacturing Enterprises Under The Background Of "Belt And Road"

With the gradual advancement of the “One Belt,One Road” initiative,the scale of outward foreign direct investment(OFDI)of Chinese enterprises has continued to grow,and the investment structure has been increasingly optimized.More and more manufacturing enterprises regard outward foreign direct investment as an important path for knowledge acquisition,technology introduction,and improvement of enterprise innovation capabilities.Therefore,whether it is possible to generate reverse technology spillover effects in the process of outward foreign direct investment,obtain effective resources and knowledge of host countries,and ultimately improve corporate innovation performance has become the key to the success of China’s manufacturing enterprises in outward foreign direct investment,and to continue to promote the “Belt and Road” initiative and outward foreign direct investment development have important guiding significance.Taking the relationship between OFDI and innovation performance of Chinese manufacturing enterprises as the object of investigation,this dissertation firstly expounds the relevant theories and summaries of the reverse technology spillover effects of foreign direct investment and the innovation performance of enterprises from the theoretical level,and sorts out the mechanism of the impact of outward foreign direct investment on the innovation performance of manufacturing enterprises from the perspective of investment in the “Belt and Road” countries and investment in non-“Belt and Road” countries.Next,based on the panel data of 48 listed manufacturing companies that persisted and incurred foreign direct investment in 2010-2017,this dissertation constructs the regression model to empirically test from the two dimensions of OFDI width and OFDI depth,revealing the effect of outward foreign direct investment on the innovation performance of Chinese manufacturing enterprises under the background of “One Belt,One Road”.Finally,a sample test is conducted based on business ownership,location,and investment motivation.The results show that the wider the OFDI of manufacturing enterprises under the background of “Belt and Road”,the more obvious the effect of improving the innovation performance of enterprises,and the deep increase of OFDI of manufacturing enterprises does not significantly improve the innovation performance of enterprises.At the same time,OFDI of a manufacturing enterprise with different ownership,location and investment motives has different effect on the innovation performance.The innovations of this dissertation are: firstly,it provides a new perspective.It focuses on the construction of the “Belt and Road” and incorporates the “One Belt,One Road” initiative as a dummy variable into the empirical model.Simultaneously,it empirically tests the impact of the implementation of the “Belt and Road” strategy on China’s innovation performance.Secondly,it analyzes the OFDI level from the perspective of OFDI width and OFDI depth,and tests the effect of OFDI on the innovation performance of manufacturing enterprises in depth.Finally,it enriches the research data.Most of the current researches focus on the macro-level in the analysis of foreign direct investment and enterprise innovation.There are few studies on the micro-level analysis of enterprises.This dissertation takes the panel data of listed manufacturing enterprises as the object of investigation,and analyzes the relationship between OFDI and innovation performance of Chinese manufacturing enterprises from the micro level.