Economic dimensions of corporate strategies of transnational companies in global scientific and technological exchange

Abstract

Purpose. The article explores the economic aspects of corporate practices of transnational firms in the context of the global scientific and technological exchange. The article establishes the impact of strategic orientations like openness, exploration, and cross-border integration on innovation performance and firm value and also evaluate whether the combination of these factors can make the company more competitive or not. Geopolitical instability, the high pace of technological transformation, and the unequal spread of innovation across nations all support the relevance of the research as they focus on the need to find a way of the effective development of transnational firms. on a sustainable basis.

Methods. The study uses a panel-data econometric model during the year 2022-2024 and it targets Ukraine, Poland and Germany. The dependent variables are those of innovation activity, firm value and technological output, whereas the independent variables are those of corporate strategy choices, intensity of global knowledge exchange and their interaction. To address the unobserved heterogeneity, firm-level fixed effects, industry-year effects and country-year controls are included. There are instrumental variables established based on exogenous policy shocks and international agreement that are used to mitigate the endogeneity. The comparative analysis in different countries is applied to provide the differences in the effectiveness of the corporate strategies between the institutions and contexts.

Results. The results demonstrate that corporate strategies have an overall positive impact on the results of innovation, and their impact is the most prominent in Germany, medium in Poland, and important but limited in Ukraine because of the wartime disruptions. The magnitude of international science and technology transfer is a more potent measure of impact on the performance of the firm, the significance of cross-border knowledge transfer. The interaction term establishes the presence of the complementarities: companies that open strategies and at the same time engage in the global network demonstrate better performance than those that depend on closed strategies. The comparative outcomes indicate that Germany has strong institutional frameworks with Poland having a stronger EU integration, and digital strategy and Ukraine being resilient in crisis conditions.

Conclusions. The research fulfills its aims by explaining the economic functions of corporate strategies in the framework of the global scientific and technological exchange and by giving the empirical evidence of complementary nature of the relationship. The findings indicate the importance of matching corporate decision-making and opportunities to international cooperation as a way of ensuring long-term competitiveness and innovation ability. To policymakers, the findings give weight to the support of institutions and conducive frameworks to cross-border cooperation. To business leaders, the paper highlights a strategic openness and globalization as important aspects of sustainable growth. Further studies need to be carried out on more countries and industries in the future, and the issue of geopolitical shock effects on transnational corporate strategies in the long-run needs to be addressed.