企业国际化、绩效与规模门限效应的实证检验

Empirical Test on Threshold Effect of Enterprise Internationalization,Performance and Scale

文章以2011—2015年中国制造业企业为样本,采用门槛面板模型来研究国际化和企业绩效间的关系以及企业规模对二者关系的影响作用。实证结果表明,中国制造业企业国际化和绩效关系具有明显的阶段性特征,受企业规模的影响而呈现出显著差异。中小规模企业国际化和企业绩效呈正相关,企业绩效随着国际化的深入不断提高;当企业规模达到一定门槛成为大规模企业时,国际化和企业绩效会出现负相关。

This paper takes Chinese manufacturing enterprises from 2011 to 2015 as samples and uses the threshold panel model to study the relationship between internationalization and enterprise performance, as well as the effect of enterprise size on the relationship. The empirical results show that the relationship between internationalization and performance of Chinese manufacturing enterprises has obvious characteristics of stages, and is significantly different under the influence of enterprise size;the internationalization of small and medium-sized enterprises is positively related to enterprise performance, and the performance keeps improving with the deepening of internationalization;when the enterprise size reaches a certain threshold and becomes a large-scale enterprise, there will be a negative correlation between internationalization and enterprise performance.