| At present,China’s manufacturing industry has made remarkable progress in development,but it is still big but not strong.The problem of core technology in key areas is still relatively prominent.To promote the high-quality development of China’s manufacturing industry,enhance the international industrial control ability,and realize the transformation from a manufacturing country to an intelligent manufacturing country,it is necessary to rely on hidden champions in the manufacturing industry and cultivate a group of industry leaders with stable global market positions,advanced core technologies and leading brand effects.High extroverted and high technical characteristics are inherent in such enterprises.The specialized aggregation strategy of market segmentation makes enterprises face the growth problem brought by limited market,which determines that the enterprises must be supplemented by internationalization strategy and innovation-driven strategy to optimize enterprise performance and promote sustainable growth of enterprises.When participating in international competition,enterprises need to have the corresponding capability to adapt to it.As the core ability of enterprise development,technological innovation depends on rich and diversified knowledge base.The internationalization strategy of cross-border and trans-organization can effectively make up for the deficiency of knowledge base of single market and closed organization,and then improve enterprise technological innovation capability and build enterprise competitive advantage.This study takes the international competition as the orientation,and from the perspective of enterprise capability,takes the data of 122 listed companies from 2010 to 2021 as the research sample.This paper puts technological innovation into the research framework of traditional internationalization strategy-enterprise performance,and further divides the internationalization degree into internationalization depth and internationalization scope,and makes an analysis on the influence relationship and mechanism among DOI,technological innovation capability and enterprise performance.Firstly,the literature related to internationalization degree,technological innovation capability and enterprise performance is sorted and reviewed.Secondly,combined with the list of manufacturing single champion demonstration enterprises issued by the Ministry of Industry and Information Technology,the development status of China’s manufacturing hidden champion is analyzed.Then,according to the above theoretical basis and current situation analysis,the research hypotheses are proposed,and the measurement indexes of internationalization degree,technological innovation ability and enterprise performance are determined,and then the regression model is established.Through empirical tests,the results show that for Chinese hidden champions,the internationalization scope positively promotes firm performance,while the internationalization depth has no significant positive effect on firm performance.The internationalization scope can positively promote the improvement of enterprises’ technological innovation capability,while the increase of internationalization depth will hinder the further improvement of enterprises’ technological innovation capability to a certain extent.In the test of mediating effect,technological innovation capability does play a mediating role in the relationship between internationalization strategy and firm performance,and its mechanism is embodied in that technological innovation plays a partially mediating role in the internationalization scope and firm performance.Finally,according to the research conclusions,policy suggestions are put forward from enterprise level and government level,hoping to provide theoretical basis for the high-quality development of China’s manufacturing industry and the implementation of the internationalization strategy of these hidden champions. |
