Impact of Global Value Chain Participation on the Performance of Shipbuilding Enterprises

In the context of increasingly interconnected production networks, the present study investigates the potential influence of Global Value Chains (GVCs) participation on the operational performance of shipbuilding enterprises. Leveraging extant scholarly contributions, this study quantifies the degree of GVCs involvement exhibited by Chinese shipbuilding enterprises over a five-year temporal span. In addition, robustness tests, endogeneity tests and heterogeneity analyses are conducted to take into account various biases and enterprise heterogeneity. The empirical outcomes of this study unveil noteworthy insights. Firstly, GVCs participation contributes to enterprise performance. Secondly, GVCs participation has different impact mechanisms on enterprises with different ownership and locations. These findings provide recommendations for both how economics can further develop their shipbuilding industries and how enterprises can improve their performance. Enterprises ought to actively engage in GVCs, concurrently strategizing to elevate their standing within such chains through concerted efforts in technological advancements.