The “Speed Paradox” of Capability Building: A Study on the Chain Mediation Mechanism of Innovation Capability Affecting the Speed of Enterprise Internationalization

To explore the impact mechanism of innovation capability on the speed of enterprise internationalization, this study takes China A-share listed companies in manufacturing and software and information technology services from 2012 to 2016 as samples. Based on dynamic capability and organizational learning theory, a chain mediating model of “innovation capability—absorption capability—adaptability—internationalization speed” is constructed, and empirical tests are conducted through regression analysis, Bootstrap testing, and endogeneity treatment. The results show that innovation capability significantly enhances absorption capability, which in turn significantly promotes adaptability, while adaptability has a significant negative impact on internationalization speed. Innovation capability does not have a direct effect on internationalization speed. The chain mediating path is significantly established. This study breaks through the limitation of a single cause, verifies the chain transmission mechanism of absorption capability and adaptability for the first time, fills the gap in the research on the timing of capability transformation, integrates interdisciplinary theories, and provides practical guidance for enterprises to improve their capability systems and differentiate their responses to environmental distance to optimize their internationalization strategies.