Does OFDI Promote High-Quality Development of Enterprises? Evidence from China - American Journal of Industrial and Business Management

AJIBM > Vol.12 No.2, February 2022

American Journal of Industrial and Business Management

Volume 12, Issue 2 (February 2022)

ISSN Print: 2164-5167 ISSN Online: 2164-5175

Google-based Impact Factor: 0.92 Citations

Does OFDI Promote High-Quality Development of Enterprises? Evidence from China ()

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Download as PDF (Size: 1362KB) PP. 153-179

DOI: 10.4236/ajibm.2022.122011 300 Downloads 1,326 Views Citations

Author(s)

Cheng Peng, Xinyuan Jia, Ying Tang

Affiliation(s)

Sichuan International Studies University, Chongqing, China.

ABSTRACT

Whether foreign direct investment can promote enterprise productivity and high-quality development has not yet reached a consensus in academic circles. By using the samples of A-share listed companies in China from 2008-2019, this paper adopts Propensity Score Matching (PSM)—Multi-temporal Difference-in-Differences (DID) to examine empirically whether corporate OFDI contributes to the high-quality development of enterprises from the perspective of total factor productivity. The study finds that OFDI significantly improves the total factor productivity of enterprises. It has more effect on state-owned enterprises than on private enterprises, and more effect on enterprises in western regions than on those in eastern and central regions. However, the promotion effect is not present in non-central policy-supported manufacturing enterprises. Technological innovation, exploratory innovation, and exploitative innovation mediate the relationship between OFDI and enterprise high-quality development. This paper provides empirical evidence for how to better promote enterprise innovation strategy and high-quality development under the “dual circulation” development pattern.

KEYWORDS

OFDI, High-Quality Development, Technological Innovation, Total Factor Productivity

Share and Cite:

Peng, C. , Jia, X. and Tang, Y. (2022) Does OFDI Promote High-Quality Development of Enterprises? Evidence from China. American Journal of Industrial and Business Management, 12, 153-179. doi: 10.4236/ajibm.2022.122011.

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