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| Open Technology Dual, Interactive Absorptive Capacity and Enterprise Internationalization Entry Mode Selection |
| Zhang Ying1,2,Zhang Qianxiao1 |
| (1.School of Economics and Finance, Xi'an Jiaotong University, Xi'an 710062,China; 2.School of Business,Xi'an Fanyi University,Xi'an 710105,China) |
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Abstract The study selects 269 listed companies in the four industries with high R&D activity in China from 2008 to 2019 as samples, and uses the hierarchical regression model and the Logit model to analyze the dual capabilities of Chinese companies' open technology and the interactive absorption adjustment effects of different technology combinations. The relationship between performance and performance,from the perspective of dual absorption, the selection of the internationalization entry mode of enterprises is found: the open technology dual of Chinese enterprises has significant development and inward-looking characteristics, and it is difficult for enterprises to absorb the ability of multinational dual Caused the dual pressure of organizational openness, and produced a restraining effect on the multinational diversified operation and long-term performance of enterprises. Relative to technical risk, institutional risk and diversification risk, dual absorption risk became the performance improvement and internationalization of Chinese enterprises Priority is given to the choice of interactive relationships. Therefore, companies in emerging industries in China currently choose cross-border mergers and acquisitions under high transnational exploratory absorptive capacity, while manufacturing companies still tend to choose cross-border mergers and acquisitions under the effect of home country dual and transnational dual absorptive capacity. Choose a greenfield investment model. The practice of choosing a path for Chinese companies' internationalization shows that comparative competitive advantages can effectively make up for the lack of transnational dual absorptive capacity of late-developing countries' companies, and diversify the choice of corporate internationalization models, reflecting the openness The dual absorptive capacity is a sufficient but not necessary condition for the choice of the internationalization entry mode of enterprises in late-developing countries.
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Received: 09 November 2020
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