“一带一路”背景下企业海外收入与——基于政治关联的调节作用

Research on the Overseas Income and Innovation Performance of Enterprises under the Belt and Road——Based on the Regulation of Political Connection

以"一带一路"倡议为出发点,考察"一带一路"倡议对"走出去"企业海外收入与创新绩效的影响,并引入企业政治关联作为调节变量。选取进行OFDI的A股上市企业2013～2016年数据,运用双向固定效应双重差分模型进行实证分析。结果发现:"一带一路"倡议对企业创新绩效存在正向作用,对企业海外收入存在负向作用;企业海外收入在"一带一路"倡议与创新绩效的关系中存在正向调节作用;政治关联在"一带一路"倡议与企业创新绩效和海外收入的关系中均存在正向调节作用。

Based on the Belt and Road initiative,this paper analyzes the impact of the the Belt and Road initiative on the overseas income and innovation performance.And then,the political connection of enterprises is introduced as a moderating variable.It empirically analyzes the impact by the DID model of two-way fixed effect based on the data of A-share listed companies in OFDI from 2013 to 2016.Results show that,the Belt and Road initiative has a positive effect on corporate innovation performance and has a negative effect on corporate overseas income;the overseas income of enterprises has a positive effect in the relationship between the Belt and Road initiative and enterprise innovation performance;political connection has positive effect in the relationship between the Belt and Road initiative and enterprise innovation performance and overseas income.