对外投资政策、逆向技术溢出与技术依赖对创新绩效的影响效应

The Influence of OFDI Policy,Reverse Technology Spillover and Technology Dependence on Innovation Performance

对外投资是经济全球化背景下重要战略,创新绩效是企业持续发展的主要动力,对外投资产生逆向技术溢出提升企业创新绩效,对外投资同时伴随技术依赖不利于企业创新长期发展。对外投资政策是直接调节对外投资,间接影响逆向技术溢出与技术依赖对创新绩效作用的关键因素。本文以对外投资为门槛分析其对创新绩效的分效应,采用PSTR模型估计得知,随着对外投资水平提高,中区制、高区制地区逆向技术溢出、技术依赖对创新绩效影响显著但方向相反。采用面板固定效应模型分析总效应,逆向技术溢出与技术依赖的交互作用抑制企业创新绩效的提高,同时对外投资政策力度发挥抑制效应,政策连续性、政策稳定性发挥激励效应。从高技术行业与其他行业、不同企业性质和企业规模角度进行异质性分析,通过投资方式、创新意愿、创新能力、创新动机、创新合作对创新绩效进行机制检验,并提出改善对外投资政策及提升创新绩效的有关建议。

Outward foreign direct investment(OFDI)is an important strategy under the background of the economic globalization,and innovation performance is main driving force of enterprise sustainable development.OFDI produces reverse technology spillover which is beneficial to improve enterprise’s innovation performance,but OFDI produces technology dependence meanwhile which has a negative impact on innovation performance in the long-term development.OFDI investment policy is the key factor that directly regulates OFDI investment and indirectly affects the effect of reverse technology spillover and technology dependence on innovation performance.This paper takes OFDI as the threshold to analyze its sub-effects on innovation performance,and uses the PSTR model to estimate that,as the level of OFDI increases,reverse technology spillovers and technology dependence have significant impacts on innovation performance in the middle-district and high-district regions,but in the opposite direction.In addition,this paper analyzes the total effect using the panel fixed-effects model,and finds that the interaction of reverse technology spillover and technology dependence inhibits the improvement of enterprises’innovative performance,while the strength of outward investment policy plays an inhibitory effect,and the continuity and stability of policy plays an incentive effect.This paper analyzes the heterogeneity between high-tech industry and other industries,different firm nature and firm size,and conducts mechanism tests on innovation performance from the perspectives of investment mode,innovation willingness,innovation ability,innovation motivation and innovation cooperation,and puts forward relevant suggestions on improving foreign investment policies to enhance innovation performance.