An Empirical Analysis of the Effect of Chinese Enterprises' Internationalization on Performance: Taking Listed Companies as an Example

As Chinese “Going out” and “Belt and Road” proposals along with the further development of reform and opening up, more and more Chinese enterprises are joining in the wave of globalization. They hope to find new profit growth points and expand diversified businesses through international development. However, there are many problems and challenges in the international of Chinese enterprises. What is the impact of enterprises' internationalization on performance? In order to test it, we select 621 Chinese manufacturing listed companies, uses state software for model building and data analysis. The result shows that there is a U -shaped relationship between enterprises' internationalization and performance, which means that we should take a long-term strategic view on the internationalization development of Chinese enterprises.