技术多元化、国际化与企业绩效

Technological diversification, internationalization and firm performance

本文旨在研究技术多元化、国际化对企业绩效的影响效应及作用机理。在回顾相关文献的基础上,从理论上分析了技术多元化与企业绩效之间的关系以及国际化对二者关系的调节作用,提出了相关的假设,利用200家中国制造业上市公司2006-2017年的面板数据对所提假设进行了实证检验。研究结果表明:(1)技术多元化与企业绩效之间呈N型曲线关系,相关技术多元化与企业绩效之间呈N型曲线关系,非相关技术多元化与企业绩效之间呈倒U型曲线关系;(2)国际化对技术多元化与企业绩效之间的关系具有负向调节作用。

This paper aims to study the influence effect and mechanism of technological diversification and internationalization on firm performance.Based on the review of relevant literature,this paper theoretically analyzes the influence of technological diversification on firm performance and the moderating effect of internationalization on above relationship,and empirically tests the hypothesis by using panel data of 200 Chinese manufacturing listed firms from 2006 to 2017.The results show that:(1)Technological diversification has a N-shaped influence on firm performance,related technological diversification has a N-shaped influence on firm performance,and unrelated technological diversification has an inverted U-shaped influence on firm performance.(2)Internationalization has a negative moderating effect on the relationship between technological diversification and firm performance.