Amid rising global economic uncertainty, firms' international expansion faces mounting challenges, while the convergence of digital and real industries offers fresh strategic opportunities for high-level openness. Using data from Chinese listed firms, this study examines how such convergence shapes outward foreign direct investment (OFDI). Empirical results show that convergence significantly boosts both the probability and scale of OFDI, with this effect being greater in regions with strict intellectual property protection, high-technology industries, and export-oriented enterprises. Mechanism tests indicate that improvements in total factor productivity and easing of financing constraints are key drivers. Further evidence suggests convergence stimulates cross-border mergers and acquisitions and enhances overseas revenues. This research enriches understanding of the nexus between technology convergence and internationalization, offering policy insights for emerging economies to leverage the digital economy to strengthen global competitiveness. More broadly, the integration of digital and real industries will remain a vital catalyst for firms’ international growth.
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