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Empirical Research on Internationalization of Chinese Manufacturing Enterprises and Business Performance ZHU Qin Zhejiang Gongshang University, P.R.China, 310000 Zhuqin9871@163.COM Abstract: Based on 383 samples of China 's manufacturing listed companies, through multiple linear regression analysis, this article shows that there is a significant positive correlation between the level of internationalization and business performance. While the size of the firm, the balance sheet and the characteristics of the industry have a significant effect on the internationalization to enhance the role of business performance. On the basis of empirical research, this article puts forward countermeasures and proposals to promote the…show more content…
3 Models, samples and data The article, regarding the degree of internationalization as independent variables, uses ordinary least squares multiple linear regression to analyze the relationship between the degree of internationalization and corporate performance by controlling other variables that may affect business performance (such as firm size, debt ratio, industry and other factors). The nature of relationship between internationalization and firm performance lies in the dynamic relationship between benefits and costs caused by internationalization, according to research results of scholars at home and abroad. The article presents the assumptions. The degree of internationalization of Chinese enterprises is positively correlated with firm performance. The test model is shown below: Performance variable = + × (other than their own income / revenue from main business) + × firm size + × asset-liability ratio + Σ × industry dummy variable The study sample is selected from listed companies with international operations in Shanghai and Shenzhen, and the financial data of listed companies in 2007 are chosen as a research sample. The enterprise internationalization is defined as "the act of business expansion to achieve the access to cross-border markets or regions " in the article, therefore possessing foreign exchange settlement such as the export business, overseas subsidiaries, overseas income is considered to have international operations

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