Research On The Influence Of “The Belt And Initiative” On The Internationalization Of Chinese Textile And Apparel Enterprises

China first proposed the "the Belt and Road initiative" in 2013 and released the "Vision and Actions for Promoting the Construction of the Silk Road Economic Belt and the 21 st Century Maritime Silk Road" in March 2015,and as an important initiative of opening up to the outside world,"the Belt and Road initiative" has become a hot spot for many scholars to study."The Belt and Road initiative" has become a hot spot for many scholars to study,but the existing literature on the implementation of "the Belt and Road initiative" in the Chinese textile and apparel sector is less studied.Based on the perspective of micro enterprises,this paper takes 2015 as the policy benchmark year and treats the implementation of "the Belt and Road initiative" as a quasi-natural experiment,using the data related to A-share listed textile and apparel enterprises from 2010 to2020,and employing the double difference method(DID).The impact of "the Belt and Road initiative" on the internationalization of Chinese textile and apparel enterprises is investigated.The paper also analyzes the heterogeneity of ownership of textile and apparel enterprises and examines the effect of relationship between two variables.The paper also analyzes the heterogeneity of ownership of textile and apparel enterprises,and examines the difference between the impact of "the Belt and Road initiative" on the internationalization of state-owned enterprises and non-stateowned enterprises in the textile and apparel industry.According to the empirical results of this paper,"the Belt and Road initiative" significantly enhances the impact of internationalization of Chinese textile and apparel enterprises,and the validity of the sample data is verified using robustness tests.The analysis of the moderating effect of enterprise resources shows that marketing and financial resources have a positive moderating effect on the relationship between "the Belt and Road initiative" and the degree of internationalization of Chinese textile and apparel enterprises;the increase of administration resources has a positive effect on the relationship between "the Belt and Road initiative" and the degree of internationalization of Chinese textile and apparel enterprises.Organizational slack negatively moderates the relationship between "the Belt and Road initiative" and the internationalization of Chinese textile and apparel enterprises.The heterogeneity of ownership of textile and apparel enterprises shows that "the Belt and Road initiative" has significantly increased the internationalization of non-state-owned enterprises in the textile and apparel industry in China compared to state-owned enterprises.This study enriches the research on the internationalization of Chinese textile and apparel enterprises and the impact of "the Belt and Road initiative" on the micro sector by combining macroeconomic policies and micro enterprises’ behavior in the context of China’s transformation and examining the impact of "the Belt and Road initiative" in the textile and apparel industry.The study combines macroeconomic policies and micro-enterprise behavior in the context of China’s transformation,examines the performance of the implementation of "the Belt and Road initiative" in the textile and apparel sector to provide targeted suggestions for textile and apparel enterprises to better respond to "the Belt and Road initiative" and improve their internationalization level,as well as to provide theoretical support for the government to build "the Belt and Road initiative".It also provides theoretical support for the government to build "the Belt and Road initiative".