Research On The Impact Of Internationalization Onthe Market Ability Of China’s High-tech Enterprises

The 19 th National Congress of the Communist Party of China and the Fifth Plenary Session of the 19 th CPC Central Committee respectively established the strategic goal of ranking among the forefront of innovative countries by 2035,put forward the core position of adhering to innovation in the overall situation of China’s modernization,and taking scientific and technological selfreliance and self-improvement as the strategic support for national development.Entering the era of knowledge economy,high-tech enterprises have increasingly shown strong development potential,and have become an important driving force for promoting social scientific and technological progress,accelerating industrial restructuring and building a scientific and technological power.In the context of global economic integration,internationalization activities are an important way for high-tech enterprises to extend their value chain networks to foreign markets,and it is also the only way to continuously improve their own capabilities and integrate into the international innovation pattern.The “14th Five-Year Plan” puts forward that "domestic and international dual circulation promote each other",requiring us to take the initiative to lead and actively participate in higher-level international exchanges and cooperation while developing the internal cycle.By continuously expanding domestic demand and accelerating industrial transformation and upgrading,we will support domestic enterprises to steadily "go abroad" to explore foreign markets,and promote the deep integration of domestic and international industrial chains and innovation chains.In this context,studying the impact of the internationalization degree of high-tech enterprises on the market capability of enterprises is in line with the development requirements of the times and has long-term significance.Based on the theory of monopoly advantage,the theory of international production trade-off,the theory of resource fundamentals and the theory of organizational learning,this paper summarizes the influence path of internationalization on the market ability of high-tech enterprises based on the relevant research of domestic and foreign scholars on the degree of internationalization,enterprise market ability and R&D innovation ability.In the measurement of the market capability of enterprises,the market capability is divided into market development ability,market control ability and market profitability,and six three-level indicators such as market share are selected to construct a market capability index system,and the weight of each index is calculated by using the entropy method.Taking 405 high-tech enterprises that carried out international operations from 2012 to 2021 as the research objects,the impact of internationalization on the market capability of enterprises and the mediating role of R&D and innovation ability were empirically tested.Furthermore,the research sample is divided into largescale high-tech enterprises and small,medium and micro high-tech enterprises according to the scale of enterprises,and the impact of internationalization on market capacity under the heterogeneity of enterprise scale is discussed.Through theoretical and empirical analysis,this study concludes the following:(1)The mechanism of the degree of internationalization affecting the market ability of enterprises is that on the one hand,the strengthening of the degree of internationalization will promote in-depth cooperation between enterprises and local innovation subjects,establish relationship networks in the international market,and accumulate social resources,thereby affecting their own R&D and innovation capabilities.On the other hand,the increase in internationalization also enables enterprises to contact diverse cultures,obtain more heterogeneous resources and diversify risks,and promote the improvement of R&D and innovation capabilities.The improvement of the company’s R&D and innovation capabilities will promote its own increase in R&D investment and improve innovation output,which in turn will affect product market sales,market share and operating profits,so that the overall market capability can be improved.(2)The depth and breadth of internationalization can promote the market capability of high-tech enterprises by affecting the R&D and innovation capabilities,that is,the degree of internationalization can significantly promote the improvement of the market capabilities of high-tech enterprises,and there is a partial intermediary role in R&D and innovation capabilities.This conclusion is still true after the robustness test and endogenous test.(3)After the regression of the sub-sample,it is found that the internationalization depth and international breadth of large high-tech enterprises have a positive role in promoting market capabilities,and R&D and innovation capabilities have played a partial intermediary role in them.However,due to the lack of economies of scale,whether it is the depth or breadth of internationalization,there is no significant relationship between small and medium-sized high-tech enterprises and market capabilities,and even inhibits the improvement of market capabilities.Therefore,the impact of the degree of internationalization of high-tech enterprises of different sizes on market capacity is different.According to the above research,from the level of scientific and reasonable selection of internationalization strategy,learning from the successful experience of the international market,rational allocation and utilization of international resources,and optimization of domestic and foreign business environment,we will reasonably formulate internationalization strategies for high-tech enterprises and promote the improvement of enterprise market capabilities.