海外子公司地理布局、地区知识产权保护与企业创新

Geographical Distribution of Overseas Subsidiaries,Regional Intellectual Property Protection and Enterprise Innovation

跨国公司在地理上配置其海外子公司组合的方式将会对价值捕获和价值创造产生较大影响,进而引致不同的绩效结果。文章基于2008~2019年中国上市公司海外子公司数据,从地理关系视角考察了海外子公司地理布局对企业创新的影响以及外部知识产权保护的调节效应。研究发现:海外子公司的地域多元化程度越高,将显著提升OFDI企业的创新数量与质量,但是海外子公司的地理集中程度越高,将负向抑制OFDI企业的创新绩效;海外子公司地理布局可通过高技术中间品进口和人力资本这两个机制渠道对企业创新产生影响;国内地区知识产权保护的调节效应显著存在,适度的知识产权保护能够增强海外地域多元化的创新提升效应,同时降低地理集中度的创新抑制效应;海外子公司地理布局的有效性与企业内部的技术基础和海外市场的技术丰裕度密切相关,在不同的内外部技术资源情境下,当知识产权保护处于适度区间时,企业的创新绩效将得到进一步优化。文章研究为后发企业如何通过合理的海外投资地理布局来提升创新绩效提供了理论依据和经验借鉴。

The way MNEs geographically allocating their portfolio of overseas subsidiaries will have a great impact on value capture and value creation,and will lead to different performance outcomes. Based on the data of overseas subsidiaries of Chinese listed companies from 2008 to 2019,this paper examines the impact of overseas subsidiaries’ geographical layout on firm innovation and the moderating effect of external intellectual property protection from the perspective of geographical relationship. The results show that,firstly,the higher degree of geographical diversification of overseas subsidiaries will significantly improve the quantity and quality of innovation of the OFDI enterprises,but the higher the degree of geographic concentration of overseas subsidiaries,the negative inhibition of innovation performance. Secondly,overseas subsidiaries’ geographical distribution can influence the innovation of parent company through high-tech intermediate goods import and human capital. Thirdly,the moderating effect of domestic and regional intellectual property protection is significant. Moderate intellectual property protection can enhance the innovation promotion effect of overseas geographical diversification,and reduce the innovation inhibition effect of geographical concentration.Finally,the effectiveness of the geographical distribution of overseas subsidiaries is closely related to the technological base inside the enterprise and the technological abundance in the overseas market. In different situations of internal and external technological resources,when the intellectual property protection is in an appropriate range,the innovation performance of the enterprise will be further optimized. This study provides a theoretical basis and experience for latecomers to improve their innovation performance through rational geographical distribution of overseas investment.