经济与管理研究2025，Vol.46Issue(7)：91-109,19.DOI:10.13502/j.cnki.issn1000-7636.2025.07.006
对外直接投资与本土企业创新
OFDI and Local Enterprise Innovation
摘要
Abstract
As innovation becomes the primary driver leading development,it is particularly urgent to explore the supply chain empowerment paths for enhancing the innovation capabilities of local enterprises under open conditions.Therefore,with the extension of China's dual circulation development paradigm,this paper systematically analyzes the transmission paths and asymmetric effects of the impact of outward foreign direct investment(OFDI)by supply chain enterprises on focal enterprise innovation based on data from listed companies in China from 2001 to 2022. The findings reveal an asymmetric spillover effect of OFDI from supply chains on focal enterprise innovation.Specifically,OFDI from downstream customers promotes focal enterprise innovation,while OFDI from upstream suppliers constrains it.Heterogeneity analysis indicates that the spillover effects of OFDI in developing countries are only evident in downstream customers.Furthermore,the spillover effect is more applicable to private enterprises,focal enterprises that have not engaged in overseas business,and those located in cities with low levels of openness.Mechanism analysis indicates that OFDI by downstream customer enterprises within the supply chain enhances focal enterprise innovation primarily through reverse knowledge spillovers and market demand responses;conversely,OFDI by upstream supplier enterprises exerts a constraining effect on focal enterprise innovation through value capture effects and market monopoly effects.Further analysis based on the structural characteristics of the supply chain reveals that the ranking of OFDI enterprises within the supply chain system exhibits cumulative effects on the spillover effect of innovation in focal enterprises.Improvements in supply chain network centrality and supply chain concentration for focal enterprises help to weaken the restrictive effects of OFDI supply chain spillovers on their innovation while strengthening innovation incentives.Additionally,an increase in supply chain stability enhances the spillover effects of OFDI for both upstream and downstream enterprises.Meanwhile,a closer geographical distance between the focal enterprise and OFDI supplier enterprises can also alleviate the restrictive effects of OFDI by upstream suppliers on focal enterprise innovation. The policy implications of this paper are as follows.First,local enterprises should actively seek collaboration with highly internationalized customers or those with rich experience in going global.Second,local enterprises should diversify their supplier networks to avoid establishing overly dependent relationships with a single supplier.Third,local enterprises can proactively expand their overseas business to accumulate foreign technological innovation resources.Lastly,the government needs to actively create a favorable institutional environment for local enterprise innovation and utilize digital platforms to break down information and resource transmission barriers between upstream and downstream enterprises within the supply chain.关键词
供应链外溢/企业创新/对外直接投资/供应链关系/需求激励Key words
supply chain spillover/enterprise innovation/OFDI/supply chain relationship/demand incentive分类
管理科学引用本文复制引用
刘娟,杨淑珺..对外直接投资与本土企业创新[J].经济与管理研究,2025,46(7):91-109,19.基金项目
国家社会科学基金一般项目"'双循环'下开放式创新对中国跨国企业创新质量提升的作用机制与路径研究"(22BGL020) （22BGL020）
