Abstract
Under the background of digital economy, technological diversification and R&D internationalization are important strategic choices for eMNCs, represented by China, to seek advanced technological resources and create competitive advantages. This paper takes China's listed MNCs from 2009 to 2019 as the research object and applies a non-equilibrium panel negative binomial fixed effect regression to investigate the impact mechanism of technological diversification of China's MNCs on enterprise innovation performance and the moderating effect of overseas R&D networks. Results show that the related technological diversification of MNCs has a significant positive impact, and the unrelated technological diversification and their innovation performance are in inverted U-shaped relationship; overseas R&D networks have significant moderating effect while the breadth and depth of the moderating effect are not the same; significant differences exist in the moderating effect of overseas R&D networks due to the heterogeneity of institutional development levels among regions in China.
Highlights
Digital technologies represented by artificial intelligence, block chains, cloud computing, and big data are promoting the development of the digital economy
Results show that the related technological diversification of MNCs has a significant positive impact, and the unrelated technological diversification and their innovation performance are in inverted U-shaped relationship; overseas R&D networks have significant moderating effect while the breadth and depth of the moderating effect are not the same; significant differences exist in the moderating effect of overseas R&D networks due to the heterogeneity of institutional development levels among regions in China
Innovation performance is taken as the dependent variable, and non-equilibrium panel negative binomial fixed effect regression is carried out on the relationship between technological diversification and innovation performance as well as the moderating effect of overseas R&D network breadth (ORNB) and overseas R&D network depth (ORND)
Summary
Digital technologies represented by artificial intelligence, block chains, cloud computing, and big data are promoting the development of the digital economy. This paper uses negative binomial fixed effect model to examine the relationship between technological diversification and innovation performance, as well as the moderating effect of overseas R&D networks.
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