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Innovation performance convergence: evidence from Chinese listed OFDI companies

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  • Tian Zhao

Abstract

Targeting to investigate whether outward foreign direct investment (OFDI) companies act at higher level of innovation performance and their dynamic evolution, this paper applies micro data of Chinese listed OFDI companies to measure the innovation performance from innovation efficiency and innovation quality respectively. Empirical study reveals that the innovation performance of OFDI companies is significantly better than that of non-OFDI counterparties, and for SOEs with OFDI, innovation performance is significantly more efficient than that of non-SOEs. The convergence analysis fails to identify σ-convergence from the innovation performance of OFDI, but detects absolute β-convergence successfully although only conditional β-convergence from SOEs group. It supports assumption of catch-up effect of innovation performance among companies, and entities with low innovation performance actually enjoy faster innovation development speed than performance leaders. The conclusion has guiding significance for different types of enterprises to formulate foreign investment policies and for the government to formulate innovation and development policies.

Suggested Citation

  • Tian Zhao, 2022. "Innovation performance convergence: evidence from Chinese listed OFDI companies," Applied Economics Letters, Taylor & Francis Journals, vol. 29(20), pages 1939-1943, November.
    • Handle: RePEc:taf:apeclt:v:29:y:2022:i:20:p:1939-1943
    DOI: 10.1080/13504851.2021.1966365
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    Cited by:

    1. Ai Li & Jinjing Zhao & Zhenqing Su & Miao Su, 2024. "Does Industrial Structure Upgrading Promote China’s Outward Foreign Direct Investment (OFDI) in ASEAN Countries? Evidence from Provincial Panels," Economies, MDPI, vol. 12(9), pages 1-19, August.

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