管理评论

管理评论 ›› 2021, Vol. 33 ›› Issue (10): 115-129.

• 技术与创新管理 • 上一篇    下一篇

知识距离和制度距离对新兴经济体企业创新追赶的影响研究——企业特征的双重调节作用

肖宵1, 林珊珊2, 李青1, 庄美儿3   

  1. 1. 广东外语外贸大学广东国际战略研究院, 广州 510420;
    2. 广东金融学院工商管理学院, 广州 510521;
    3. 广东外语外贸大学商学院, 广州 510006
  • 收稿日期:2020-04-18 出版日期:2021-10-28 发布日期:2021-11-29
  • 通讯作者: 李青(通讯作者),广东外语外贸大学广东国际战略研究院教授,博士
  • 作者简介:肖宵,广东外语外贸大学广东国际战略研究院讲师,博士;林珊珊,广东金融学院工商管理学院讲师,博士;庄美儿,广东外语外贸大学商学院硕士研究生。
  • 基金资助:
    国家自然科学基金青年项目（72002051；71602196）；国家自然科学基金重点国际（地区）合作研究项目（71810107002）；国家自然科学基金面上项目（71672196；71673064）；广东省教育厅创新团队项目（2017WCXTD003）。

Research on the Influence of Knowledge Distance and Institutional Distance on Innovation Catch-up of Emerging Market Multinational Enterprises: The Double Moderating Effect of Enterprise Characteristics

Xiao Xiao1, Lin Shanshan2, Li Qing1, Zhuang Meier3   

  1. 1. GIIS, Guangdong University of Foreign Studies, Guangzhou 510420;
    2. School of Business Administration, Guangdong University of Finance, Guangzhou 510521;
    3. School of Business, Guangdong University of Foreign Studies, Guangzhou 510006
  • Received:2020-04-18 Online:2021-10-28 Published:2021-11-29

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摘要： 新兴经济体企业的对外直接投资被认为是为了实现创新追赶，其中母国和东道国之间的距离十分关键。然而，已有考察距离对创新追赶影响的研究大多对制度距离单一维度笼统加以考察，进而得到片面结论，忽视了两国之间距离概念的丰富性和多维性。基于此，本文同时考察知识距离和制度距离对新兴经济体企业创新追赶过程的影响机制，并分析二者的作用边界。基于沪深上市家族企业2004—2015年的面板数据，本文发现：（1）东道国与母国之间的知识距离强化了企业对外直接投资对创新产出的促进作用，而制度距离削弱了企业对外直接投资对创新产出的促进作用；（2）企业研发能力正向调节知识距离的调节作用，而企业政治关联负向调节制度距离的调节作用；（3）对知识距离和制度距离进行两两组合后分组回归分析发现，知识距离带来的收益不足以弥补制度距离带来的成本。本文不仅丰富了制度距离在企业跨国战略中的应用，还从宏观与微观相结合的复合层面深化了新兴经济体企业对外直接投资的创新追赶绩效研究，对中国企业国际化和创新战略具有实践意义。

关键词: 创新追赶, 知识距离, 制度距离, 新兴经济体企业, 双重调节

Abstract: The outward foreign direct investment (OFDI) strategy of emerging market multinational enterprises (EMMEs) is seen as an attempt to catch up with innovation, in which the distance between home and host countries is critical. However, most of the prior researches on the effect of distance on EMMEs' innovation catch-up studied institutional distance in general, or only analyzed the single dimension of institutional distance, which leads to one-sided conclusion without regard to the richness and multi-dimension of the concept of distance. Therefore, this paper examines the impact mechanism and the effect boundary of the knowledge distance and the institutional distance on the innovation catch-up process of EMMEs. Using the panel data of family firms listed in Shanghai and Shenzhen stock exchanges from 2004 to 2015, the empirical study reaches the following conclusions:(1) The knowledge distance between the host country and the home country strengthens the promotion effect of OFDI on innovation output, while the institutional distance weakens the effect of OFDI on innovation output; (2) Firm's R&D ability positively moderates the moderating effect of knowledge distance, while political connection negatively moderates the moderating effect of institutional distance; (3) In addition, we further conduct a pairwise combination of knowledge distance and institutional distance, and find through subgroup regression analysis that the benefits brought by knowledge distance are not enough to compensate for the costs caused by institutional distance. This paper not only enriches the application of institutional distance in the multinational strategy of enterprises, but also deepens the research on the innovation catch-up performance of OFDI of EMMEs from the macro and micro composite levels, which is of practical significance to the internationalization and innovation strategy of Chinese enterprises.

Key words: innovation catch-up, knowledge distance, institutional distance, EMMEs, double moderating effect