Abstract: Previous research lacks attention to the mechanism which the rhythm of firm internationalization affects innovation strategy. From the perspective of time compression diseconomies of absorptive capacity and Cross-Border knowledge transfer, we investigate the intrinsic mechanisms of how the rhythm of firm internationalization affects innovation investment and innovation output, and the moderating role of the organizational slack, industry competition and ownership in this study. Hypotheses are tested through the Chinese manufacturing companies listed from 2010 to 2018. The findings have shown that there is a significantly positive relationship between an irregular and incoherent internationalization rhythm and innovation investment but a negative relationship with innovation output. Furthermore, organizational slack and industry competition strengthen the positive influence of internationalization rhythm on innovation investment, and organizational slack weakens the negative influence of internationalization rhythm on innovation output, and compared to non-state-owned enterprises, the positive impact of internationalization rhythm on innovation investment will be alleviated and the negative impact of internationalization rhythm on innovation output will be enhanced in state-owned enterprises.

摘要： 已有研究对于国际化节奏影响企业创新的机制缺乏关注。本文从吸收能力的时间压缩不经济性与跨国知识转移视角出发，探讨基于时间维度的企业国际化节奏对创新投入与创新产出的影响机理，分析企业内部资源（组织冗余）与外部环境（行业竞争性）以及所有权性质对上述关系的调节作用。以2010-2018年中国制造业上市公司为研究样本进行定量分析，结果表明：企业不规律的国际化节奏正向影响创新投入，负向影响创新产出；组织冗余资源和行业竞争程度会强化不规律国际化节奏对创新投入的正向关系，且组织冗余资源还能够缓解不规律国际化节奏对创新产出的负向关系；相比于非国有企业，国有企业中不规律国际化节奏对创新投入的正向影响将被削弱，对创新产出的负向影响将被增强。