Keywords
Internationalization speed
Policy uncertainty
Innovation
Submitted : 2026-05-20
Accepted : 2026-06-04
Published : 2026-06-19
Abstract
Against the macro backdrop of intensified uncertainty in cross-border trade and investment driven by the anti-globalization wave, corporate digital transformation is reshaping the underlying logic of enterprise internationalization strategies. This study utilizes panel data from A-share listed companies spanning 2008 to 2022, employing Stata for empirical analysis to investigate the impact of digital transformation on the pace of enterprise internationalization and the moderating effect of policy uncertainty therein. The findings reveal that heightened policy uncertainty spurs firms to invest in digital innovation in pursuit of flexibility and new opportunities, motivating them to explore novel pathways through digital means to mitigate risks. Consequently, firms reduce investments in exploitative innovations, such as the development of new products and technologies, to better adapt to changes and evade risks, thereby accelerating internationalization. This study offers insights for firms aiming to enhance their internationalization speed amidst digitalization.
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