The Impact of Innovation Investment Volatility on Technological Innovation of Enterprises in Different Life Cycles

发表日期：2021-12-31

期刊：Mathematical Problems in Engineering

作者：Li Miaomiao; Hao Zhaoxing; Luan Meng; Li Haibo; Cao Guikun

单位：School of Business,Qingdao University,Qingdao 266071,China;COSCO Shipping,(Qingdao) Co., Ltd,Qingdao 266001,China;Institute of Science and Technology for Development of Shandong,Jinan 250000,China

摘要：Empirical findings from the impact of innovation investment volatility on enterprise technological innovation are mixed. Based on the punctuated equilibrium theory, this study explores the impact of innovation investment volatility on enterprise technological innovation in different life cycles and whether innovation subsidy has expected effects on enterprises’ technological innovation. By using the 205 Chinese listed enterprises in strategic emerging industries from 2010 to 2019 as the research sample, the results show that the innovation investment volatility has a positive impact on technological innovation of enterprise in the growing stage, while it has no significant effect on enterprise technological innovation in the mature and declining stages. In addition, the negative moderating effect of innovation subsidy on the relationship between innovation investment volatility and technological innovation is the most significant for enterprises in the growing stage, weakly significant for enterprises in the mature stage, and insignificant for enterprises in the declining stage.

关键词：Innovation Investment Volatility;Technological Innovation

链接：The Impact of Innovation Investment Volatility on Technological Innovation of Enterprises in Different Life Cycles