国际化程度与企业绩效关系研究--基于中国上市重工业企业的实证研究

基于我国重工业上市企业的样本数据,采用多元回归的方法研究了企业国际化与绩效关系。结果表明:企业国际化程度与绩效呈U型曲线;国际化与绩效关系是国际化阶段依赖的,也是资产管理效率依赖的,其中,国际化阶段显著正向调节国际化与绩效的关系,资产管理效率也显著正向调节国际化与绩效的关系。基于研究结果,提出企业管理者要用更加长远的眼光审视企业国际化过程;对我国重工业企业而言,可以通过加速国际化进程和提高企业的资产管理效率来获取正的国际化绩效。

Based on the sample data of Chinese heavy listed companies, this article studied the relationship of Chinese enterprises＂ internationalization and performance by using the multiple regression method. The results show that the relationship be- tween enterprises＂ internationalization and performance is a U-curve and this kind of relationship relies on the stage of in- ternationalization and the efficiency of assets management. Both of the stage of internationalization and the efficiency of as- sets management have a significantly positive effect on the relationship between internationalization and performance. Ac- cording to the results, this article suggests that business managers should have a long-term expectation on the process of internationalization. For Chinese heaW enterprises, positive internationalization performance can be achieved by accelerat- ing the internationalization process and improving assets management efficiency of enterprisesn.