国际经济与贸易学院知识库

       党的二十大报告明确指出，要“推进高水平的对外开放”，这对企业的海外市场拓展提出了更高的要求。数十年来，中国企业在改革开放这一历史决策的推动下不断“走出去”，积极拓展海外市场，现如今，中国企业的贸易和对外投资规模均位居世界前列。相比之下，中国企业的创新水平还需要进一步提升，关键领域客观存在的“卡脖子”问题致使企业生产发展非常被动，在长期也不利于经济高质量发展。企业进行海外市场拓展，可以高效率地整合国内外两个市场、两种资源，这会极大地提升企业的创新水平，对未来企业高质量发展也有重要意义。因此，如何更好地进行海外市场拓展并提升企业创新水平就成为未来更长时期内学界和业界关注的核心议题。
       基于此，本文首先在梳理相关文献的基础上，结合新新贸易理论、技术创新理论和逆向技术溢出理论从出口和对外投资双重视角探究了企业海外市场拓展影响企业创新的内在机制。其次，使用2007-2021年上市企业微观数据，通过建立固定效应模型进行实证分析，建立中介效应模型进行机制检验，更换变量进行稳健性检验，并使用Heckman两步法和两阶段最小二乘法验缓解模型的内生性问题。最后，使用分组回归法进行异质性分析，同时运用对比分析进一步区分企业出口和企业对外直接投资影响企业创新的效果差异。研究发现：企业出口和企业对外直接投资均促进了企业创新；异质性分析表明，非国有企业、海外市场占比高的企业和生产率较低企业的海外市场拓展更易提升企业创新水平；机制分析表明，企业出口和企业对外直接投资促进创新的效果均通过提升研发资金投入、提高技术人员雇佣两个路径实现。进一步对比分析表明，相较于企业出口，企业对外直接投资对企业创新的促进效应更显著。
       根据理论分析和实证分析的研究内容，本文为企业更好地开拓海外市场进而提升创新水平提供了较可靠的对策建议。上市公司应该进一步提升海外市场规模，根据公司发展现状采取差异化的海外市场策略，同时应进一步提升对外直接投资的规模和占比。政府部门应进一步完善创新激励体系，同时推进国有企业改革，助力国有企业走向世界。

关键词：海外市场拓展 企业出口 企业对外直接投资 企业创新

The report of the 20th National Congress of the Communist Party of China clearly pointed out that it is necessary to "promote a high level of opening up to the outside world", which puts forward higher requirements for enterprises to expand overseas markets. For decades, driven by the historic decision of reform and opening up, Chinese enterprises have been continuously "going out" and actively expanding overseas markets. Today, the scale of trade and outbound investment of Chinese enterprises ranks among the top in the world. In contrast, the level of innovation of Chinese enterprises still needs to be further improved, and the objective existence of "stuck neck" problems in key areas has caused the production and development of enterprises to be very passive, which is not conducive to the high-quality development of the economy in the long run. Enterprises to expand overseas markets, can efficiently integrate the two domestic and foreign markets, two kinds of resources, which will greatly improve the level of innovation of enterprises, the future of high-quality development of enterprises is also of great significance. Therefore, how to better expand the overseas market and improve the level of enterprise innovation has become the core issue of academic and industry attention in the future.

Based on this, this paper first explores the internal mechanism of enterprises' overseas market expansion affecting enterprise innovation from the dual perspectives of export and outbound investment by combing relevant literature and combining the new and new trade theory, technological innovation theory and reverse technological spillover theory.Secondly, the micro-data of listed enterprises from 2007 to 2021 were used to conduct empirical analysis by establishing a fixed effect model, establishing an intermediary effect model for mechanism test, replacing variables for robustness test, and using Heckman two-step method and two-stage least square method to test the endogenous problem of the mitigation model. Finally, the group regression method is used to carry out heterogeneity analysis, and the comparative analysis is used to further distinguish the difference of the effect of export and OFDI on firm innovation. The results show that both export and OFDI promote innovation; Heterogeneity analysis shows that the overseas market expansion of non-state-owned enterprises, enterprises with a high proportion of overseas market and enterprises with low productivity are more likely to improve the innovation level of enterprises. Mechanism analysis shows that the effect of enterprise export and OFDI on promoting innovation can be realized through two ways: increasing R&D investment and increasing the employment of technical personnel. Further comparative analysis shows that OFDI has a more significant promoting effect on innovation than export.

According to the research content of theoretical analysis and empirical analysis, it provides more reliable countermeasures and suggestions for enterprises to better explore overseas markets and improve the level of innovation. Listed companies should further enhance the scale of overseas markets, adopt differentiated overseas market strategies according to the company's development status, and further increase the scale and proportion of foreign direct investment. Government departments should further improve the innovation incentive system, while promoting the reform of state-owned enterprises to help them go global.