Enterprise Internationalization and Enterprise Innovation Performance: The Regulating Effect of Equity Incentive

Against the backdrop of globalization in today's era, Chinese enterprises are experiencing a flourishing trend of internationalization. With the rise of the Chinese economy and the continuous advancement of reform and opening up, an increasing number of Chinese enterprises are actively integrating into the global market, seeking the resources needed for their own development on a global scale, enhancing innovation capabilities, and striving to improve their position and influence in the global value chain. This article takes 647 manufacturing enterprises as the research objects, subdivides the measurement of internationalization into depth and breadth, quantitatively explores the impact of the depth and breadth of enterprise internationalization on innovation performance, and investigates the moderating effect of equity incentives. The results show that: the depth of internationalization significantly promotes innovation performance of enterprises, and equity incentives positively moderate the relationship between them; the breadth of internationalization significantly promotes innovation performance of enterprises, and equity incentives positively moderate the relationship between them.