Following the growing penetration of service industry into manufacturing industry, this paper verifies the effect of manufacturing firm servitization on exports and reviews the regulating effect mechanism of corporate market power. Firstly, this paper constructs a theoretical model including the selection of service business strategy and the selection of corporation export, and elaborates on the effect mechanism among servitization, market power and export of firms. Secondly, this paper precisely describes the servitization indicators of listed manufacturing firms in China at the microscopic level from 2004 to 2016 based on the corporate business activities released in the annual reports of listed firms, the innovative research perspective of service business strategy selection and two levels, including the breadth and depth of servitization. Finally, the paper applies PPLM (Poisson Pseudo Maximum Likelihood) regression method to the research based on theoretical analysis and indicator formulation. The research findings are as follows: First, servitization significantly improves the export tendency of firms, and servitization depth has a greater effect on the export of firms than servitization breadth; second, market power enhances the solvency of fixed costs and variable costs faced by the export of firms and promotes the marginal effect of servitization on the exp ort of firms by influencing the corporate service business strategy; third , servitization significantly improves the export tendency of the products characterized by a higher level of product support servitization and digitization but a lower international market threshold; fourth, the technology spillover effect and scope economy effect caused by servitization promote the export of firms while the crowding-out effect and sunk cost effect inhibit the export of firms. The above findings provide both theoretical support and empirical basis for rooting out the dilemma of export from the research perspective of manufacturing firm servitization.
KeywordsServitizationMarket PowerManufacturing FirmsExport of Firms
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