“一带一路”倡议与企业国际化程度——基于制造业上市公司的证据  

“The Belt and Road”Initiative and the Degree of Internationalization of Enterprises——Based on Evidence from Listed Manufacturing Companies

作　　者：郑惠 麦力开·色力木 Zheng Hui;Mailikai Selimu(School of Economics and Business Administration,Chongqing University,Chongqing 400040,China;School of Economics and Management,Xinjiang University,Urumqi 830046,China)

机构地区：[1]重庆大学经济与工商管理学院,重庆400040 [2]新疆大学经济与管理学院,乌鲁木齐830046

出　　处：《工业技术经济》2022年第2期14-22,共9页Journal of Industrial Technological Economics

基　　金：国家自然科学基金项目“西部大开发时期新疆中小企业商业信用发展研究”(项目编号:71262014)。

摘　　要：本文将“一带一路”倡议视为一项准自然实验,基于2007~2020年A股制造业上市公司数据,运用双重差分模型探究“一带一路”倡议对企业国际化程度的影响。研究发现,“一带一路”倡议能够显著提升企业国际化程度。作用机制研究发现,“一带一路”倡议可以通过缓解融资约束和提升研发强度提升企业国际化程度。异质性检验发现,“一带一路”倡议能够提升大规模企业和中小规模企业国际化程度,且对中小规模企业国际化程度的提升效应更加明显;相对于内向型城市节点,“一带一路”倡议显著提升了外向型节点城市企业国际化程度。进一步地,“一带一路”倡议能够显著促进企业国际化范围的扩张。This paper regards“the Belt and Road”initiative as a quasi-natural experiment.Based on the data of listed Ashare manufacturing companies from 2007 to 2019,this article uses a difference-in-differences model to explore the impact of“the Belt and Road”initiative on the degree of corporate internationalization.The study finds that“the Belt and Road”initiative can significantly enhance the internationalization of enterprises.Research on the mechanism of action finds that“the Belt and Road”initiative can improve the internationalization of enterprises by alleviating financing constraints and increasing R&D intensity.The heterogeneity test finds that“the Belt and Road”initiative can improve the internationalization of large-scale enterprises and small and medium-sized enterprises,and the effect of improving the internationalization of small and medium-sized enterprises is more obvious;compared to the inward-oriented city node,“the Belt and Road”initiative significantly enhance the degree of internation⁃alization of export-oriented node city enterprises.Furthermore,“the Belt and Road”initiative can significantly promote the expan⁃sion of the scope of corporate internationalization.

关 键 词：“一带一路”倡议 融资约束 研发强度 企业国际化程度 双重差分 国际化范围 

分 类 号：F272[经济管理—企业管理] F125[经济管理—国民经济]