海外投资与国内并购对区域创新效率的差异性影响研究

The Variant Effects of Outward Foreign Direct Investment and Domestic M A on Regional Innovation Efficiency

摘要:

本文采用2003-2014年中国31个省(市)海外投资和国内并购的面板数据,利用贝叶斯随机前沿方法,分析了两种投资方式对地区创新效率的差异性影响。研究发现：海外投资和国内并购均对创新效率有正向影响,海外投资的作用更大；海外投资和国内并购都存在非线性的门槛效应,两者对数门槛值分别在7.61和5.76附近；OFDI和国内并购在促进创新效率方面不存在明显的替代或互补关系。

Abstract:

Using the panel data of 31 provinces (municipalities) during the period from 2003 to 2014,this paper investigates the variant effects of outward foreign direct investment(OFDI)and domestic M A on regional innovation efficiency by utilizing Bayesian stochastic frontier function. The results show that: (1) Both the OFDI and domestic M A have positive effect on regional innovation efficiency, while the effect of OFDI is larger;(2)There are threshold effects for both OFDI and domestic M A, and the logarithm threshold value for them is about 7.61 and 5.76 individually;(3)There is no substitutional or complementary relationship between OFDI and domestic M A in promoting innovation efficiency.