Can R&D internationalization improve EMNES' innovation efficiency? The moderating effects of TMT human capital

The authors aim to discuss the impact of research and development (R&D) internationalization on emerging market enterprises' (EMNEs') innovation efficiency, as well as the moderating effects of top management team (TMT) human capital.,The authors empirically tested the hypotheses based on Chinese listed manufacturing company data from 2008 to 2017.,R&D internationalization helps to increase EMNEs' innovation efficiency. Incorporating TMT human capital into this framework, the authors found that international experience, education level and technical background would all strengthen the above relationship.,First, the authors contribute to the R&D internationalization literature by providing the first empirical evidence that R&D internationalization will influence EMNEs' innovation efficiency. Second, this study enriches the research results on the driving factors of enterprise innovation efficiency and expands the related research results on the relationship between R&D internationalization and production efficiency. Third, the research highlights the prominent position of TMT human capital in the relationship between R&D internationalization and EMNEs' innovation efficiency, which strengthens the contextual characteristics of the “R&D internationalization-innovation performance” framework.