The Belt and Road, Open Innovation and Enterprise Innovation Performance

Based on the patent data of China's A-share listed companies from 2009 to 2021, this paper takes the quasi-natural experiment proposed by the "the Belt and Road" initiative as the entry point, and uses the double difference model to investigate the impact of the "the Belt and Road" initiative on enterprise innovation and its path of action. The main conclusions are as follows: First of all, the "the Belt and Road" initiative has significantly promoted the technological innovation of participating enterprises, and a series of effectiveness and robustness tests show that this promotion effect exists significantly. Secondly, the "the Belt and Road" initiative improves the innovation performance of enterprises by promoting open innovation of enterprises. Once again, through the moderation effect test, it was found that increasing digital investment by enterprises can promote open innovation and improve the innovation performance and quality of participating enterprises. Finally, from the heterogeneity analysis, it is found that the "the Belt and Road" initiative can promote the innovation and invention patent output of state-owned enterprises and eastern enterprises.