多元化经营对研发投入的影响机制研究——基于组织冗余的中介作用
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摘要
本文根据中国上市公司2012至2014年的相关数据,运用熵值法测算了其相关和非相关多元化经营程度,通过路径分析模型,探究了多元化的不同类型及程度对研发投入强度的影响,讨论了组织冗余对该影响的中介作用。研究发现:相关多元化通过积累组织冗余资源,提高企业研发投入强度;非相关多元化通过耗散组织冗余资源,降低企业研发投入强度。最后,从组织冗余开发和多元化范围调整等方面,提出相应对策和建议。
Based on the data of Chinese listing corporations from 2012 to 2014,their levels of related and unrelated diversified operation are calculated with the application of entropy method. The effects of different types and levels of diversification on research and development( R&D) investment intensity are examined with the path analysis model,as well as the mediating role of organizational slack. The results reveal that,related diversified operation increases R&D intensity by accumulating organizational slack,whereas unrelated diversified operation decreases R&D intensity by dissipating organizational slack. At last,several recommendations are proposed from the aspects of exploiting organizational slack and adjusting diversification scope.
Based on the data of Chinese listing corporations from 2012 to 2014,their levels of related and unrelated diversified operation are calculated with the application of entropy method. The effects of different types and levels of diversification on research and development( R&D) investment intensity are examined with the path analysis model,as well as the mediating role of organizational slack. The results reveal that,related diversified operation increases R&D intensity by accumulating organizational slack,whereas unrelated diversified operation decreases R&D intensity by dissipating organizational slack. At last,several recommendations are proposed from the aspects of exploiting organizational slack and adjusting diversification scope.
引文
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[5]许春.中国企业非相关多元化与创新投入关系研究[J].科研管理,2016,37(7):62-70.Xu Chun.A research on the relationship between unrelated diversification and firm’s innovation investment in China[J].Science Research Management,2016,37(7):62-70.
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[12]Nohria N,Gulati R.Is slack good or bad for innovation?[J].Academy of Management Journal,1996,39(5):1245-1264.
[13]Kim H,Kim H,Lee P M.Ownership structure and the relationship between financial slack and R&D investments:Evidence from Korean firms.[J].Organization Science,2008,19(3):404-418.
[14]Mellahi K,Wilkinson A.A study of the association between level of slack reduction following downsizing and innovation output[J].Journal of Management Studies,2010,47(3):483-508.
[15]Troilo G,Luca L M D,Atuahene-Gima K.More innovation with less?A strategic contingency view of slack resources,information search and radical innovation[J].Journal of Product Innovation Management,2014,31(2):259-277.
[16]Anders R,hlstrm P,Keith G.“Squeezing R&D”:A study of organizational slack and knowledge creation in NPD,using the SECI model[J].Journal of Product Innovation Management,2013,31(6):1268-1290.
[17]Bourgeois L J.On the measurement of organizational slack[J].Academy of Management Review,1981,6(1):29-39-29-39.
[18]Cheng J L C,Kesner I F.Organizational slack and response to environmental shifts:The impact of resource allocation patterns[J].Journal of Management,1997,23(1):1-18.
[19]Tan J,Peng M W.Organizational slack and firm performance during economic transitions:Two studies from an emerging economy[J].Strategic Management Journal.2003:1249-1263.
[20]George G.Slack resources and the performance of privately held firms[J].Social Science Electronic Publishing,2004,48(4):661-676.
[21]张庆垒,施建军,刘春林.技术多元化、冗余资源与企业绩效关系研究[J].科研管理,2015,36(11):21-28.Zhang Qinglei,Shi Jianjun,Liu Chunlin.Technological diversification,slack resources and firm performance[J].Science Research Management,2015,36(11):21-28
[22]Chen Y M,Yang D H,Lin F J.Does technological diversification matter to firm performance?The moderating role of organizational slack[J].Journal of Business Research,2013,66(10):1970-1975.
[23]Palepu,Krishna.Diversification strategy,profit performance and the entropy measure[J].Strategic Management Journal,1985,6(3):239-255.
[24]Penrose E.The theory of the growth of the firm[M].New York:Oxford University Press,1995.
[25]Rumelt R P.Strategy,structure and economic performance[M].London:Pickering&Chatto,2007.
[26]Williamson O E.Markets and hierarchies:Antitrust analysis and implications[M].New York:The Free Press,1975.
[27]Gupta A K,Govindarajan V.Resource sharing among SBUs:Strategic antecedents and administrative implications[J].Academy of Management Journal,1986,29(4):695-714.
[28]Dundas K N M,Richardson P R.Implementing the unrelated product strategy[J].Strategic Management Journal,1982,3(4):287-301.
[29]Hitt M A,Hoskisson R E.Declining U.S.Competitiveness:Reflections on a crisis[J].Academy of Management Executive,1988,2(1):51-60.
[30]Hill C W L,Hoskisson R E.Strategy and structure in the multiproduct firm[J].Academy of Management Review,1987,12(2):331-341.
[31]Jaeger A M,Baliga B R.Control systems and strategic adaptations:Lessons from the Japanese experience[J].Strategic Management Journal,6(2):115-134.
[32]Miller D J.Firms’technological resources and the performance effects of diversification:A longitudinal study[J].Strategic Management Journal,2004,25(11):1097-1119.
[33]Miller D J.Technological diversity,related diversification,and firm performance[J].Strategic Management Journal,2006,27(7):601-619.
[34]Cassiman,Veugelers B,Reinhilde.In search of complementarity in the innovation strategy:Internal R&D and external knowledge acquisition[J].Management Science,2004,52(1):68-82.
[35]Dahlander L,Gann D M.How open is innovation?[J].Research Policy,2010,39(6):699-709.
[36]Sharfman M P,Tansik D A.Antecedents of organizational slack[J].Academy of Management Review,1988,13(4):601-614.
[37]Voss G B,Sirdeshmukh D,Voss Z G.The effects of slack resources and environmental threat on product exploration and exploitation[J].Academy of Management Journal,2008,51(1):147-164.
[38]Danneels E.Organizational antecedents of second-order competences[J].Strategic Management Journal,2008,29(5):519-543.
[39]Kraatz M S,Zajac E J.How organizational resources affect strategic change and performance in turbulent environments:Theory and evidence[J].Organization Science,2001,12(5):632-657.
[40]Debruyne,M,Frambach,R T,Moenaert,R.Using the weapons you have:The role of resources and competitor orientation as enablers and inhibitors of competitive reaction to new products[J].Journal of Product Innovation Management,2010,27(2):161-178.
[41]Paeleman I,Vanacker T.Less is more,or not?On the interplay between bundles of slack resources,firm performance and firm survival[J].Journal of Management Studies,2015,52(6):819-848.
[42]Damanpour F.Organizational innovation:A meta-analysis of effects of determinants and moderators[J].Academy of Management Journal,1991,34(3):555-590.
[43]Tushman M L,Nelson R R.Introduction:Technology,organizations and innovation.[J].Administrative Science Quarterly,1990,35(1):1-8.
[44]Woodman R W,Sawyer J E,Griffin R W.Toward a theory of organizational creativity[J].Academy of Management Review,1993,18(2):293-321.
[45]Nonaka I,Von Krogh G.Tacit knowledge and knowledge conversion:Controversy and advancement in organizational knowledge creation theory[J].Organization Science,2009,20(3):635-652.
[46]Amabile T M,Conti R.Changes in the work environment for creativity during downsizing[J].Academy of Management Journal,1999,42(6):630-640.
[47]Fisher S R,White M A.Downsizing in a learning organization:Are there hidden costs?[J].Academy of Management Review,2000,25(1):244-251.
[48]陈蓉,许培源.研发投入、知识存量与内资企业创新产出——基于高技术产业的经验分析[J].经济与管理评论,2015,31(2):39-45.Chen Rong,Xu Peiyuan.The influence of R&D investment and knowledge stock on innovative output of domestic enterprises:An empirical analysis based on high technology industry[J].Review of Economy and Management,2015,31(2):39-45.
[49]苏昕,刘昊龙.多元化经营对企业绩效的影响——高管持股的调节作用[J].经济问题,2017(4):100-107.Su Xin,Liu Haolong.The effects of diversification on corporate performance:The moderating role of senior managerial ownership[J].On Economic Problems,2017(4):100-107.
[50]Mishina Y,Pollock T,Porac J.Are more resources always better for growth?Resource stickiness in market and product expansion[J].Strategic Management Journal,2004,25(12):1179-97.
[51]林震岩.多变量分析[M].北京:北京大学出版社,2007.Lin Zhenyan.Multivariate analysis[M].Beijing:Peking University press,2007.
[52]孙俊华,刘海建.多元化战略测量方法论及其在中国情境下的应用研究[J].科学学与科学技术管理,2008(1):33-41.Sun Junhua,Liu Haijian.A research on the measure methodology of diversification strategy and its application in chinese context[J]Science of Science and Management of S&T,2008(1):33-41.
[2]张子峰,周杰,薛有志.多元化经营对R&D投入影响的实证研究[J].科学学与科学技术管理,2010(2):19-22.Zhang Zifeng,Zhou Jie,Xue Youzhi.An empirical study on the effects of diversification on R&D expenditure[J].Science of Science and Management of S&T,2010(2):19-22.
[3]康华,王鲁平,梁倩.多元化经营对企业研发活动的影响研究[J].科技进步与对策,2012(17):86-91.Kang Hua,Wang Luping,Liang Qian.Research on the impact of diversification on enterprise R&D activities[J].Science&Technology Progress and Policy,2012(17):86-91.
[4]何郁冰,陈劲.技术多元化战略与企业竞争优势关系研究述评[J].科研管理,2013,34(5):10-20+31.He Yubing,Chen Jin.The relationship between technological diversification and enterprise competitive advantages[J].Science Research Management,2013,34(5):10-20+31.
[5]许春.中国企业非相关多元化与创新投入关系研究[J].科研管理,2016,37(7):62-70.Xu Chun.A research on the relationship between unrelated diversification and firm’s innovation investment in China[J].Science Research Management,2016,37(7):62-70.
[6]Baysinger B,Hoskisson R E.Diversification strategy and R&D intensity in multiproduct firms[J].Academy of Management Journal,1989,32(2):310-332.
[7]Miller D J,Cardinal L B.The use of knowledge for technological innovation within diversified firms[J].Academy of Management Journal,2007,50(2):308-328.
[8]Banker R D,Plehn-Dujowich J M.R&D versus acquisitions:Role of diversification in the choice of innovation strategy by information technology firms[J].Journal of Management Information Systems,2011,28(2):109-144.
[9]Garcia-Vega M.Does technological diversification promoteinnovation?An empirical analysis for European firms[J].Research Policy,2006,35(2):230-246.
[10]Alonso-Borrego C,Forcadell F J.Related diversification and R&D intensity dynamics[J].Research Policy,2010,39(4):537-548.
[11]权圣容,吴贵生,格佛海.不确定环境下多元化战略对企业绩效的影响——以韩国企业集团为例[J].科研管理,2012,33(3):89-95+112.Kwon Sungyong,Wu Guisheng,Ge Fohai.The effectiveness of diversification strategy on the corporate profitability under turbulent business environment—Cases of South Korean conglomerates[J].Science Research Management,2012,33(3):89-95+112.
[12]Nohria N,Gulati R.Is slack good or bad for innovation?[J].Academy of Management Journal,1996,39(5):1245-1264.
[13]Kim H,Kim H,Lee P M.Ownership structure and the relationship between financial slack and R&D investments:Evidence from Korean firms.[J].Organization Science,2008,19(3):404-418.
[14]Mellahi K,Wilkinson A.A study of the association between level of slack reduction following downsizing and innovation output[J].Journal of Management Studies,2010,47(3):483-508.
[15]Troilo G,Luca L M D,Atuahene-Gima K.More innovation with less?A strategic contingency view of slack resources,information search and radical innovation[J].Journal of Product Innovation Management,2014,31(2):259-277.
[16]Anders R,hlstrm P,Keith G.“Squeezing R&D”:A study of organizational slack and knowledge creation in NPD,using the SECI model[J].Journal of Product Innovation Management,2013,31(6):1268-1290.
[17]Bourgeois L J.On the measurement of organizational slack[J].Academy of Management Review,1981,6(1):29-39-29-39.
[18]Cheng J L C,Kesner I F.Organizational slack and response to environmental shifts:The impact of resource allocation patterns[J].Journal of Management,1997,23(1):1-18.
[19]Tan J,Peng M W.Organizational slack and firm performance during economic transitions:Two studies from an emerging economy[J].Strategic Management Journal.2003:1249-1263.
[20]George G.Slack resources and the performance of privately held firms[J].Social Science Electronic Publishing,2004,48(4):661-676.
[21]张庆垒,施建军,刘春林.技术多元化、冗余资源与企业绩效关系研究[J].科研管理,2015,36(11):21-28.Zhang Qinglei,Shi Jianjun,Liu Chunlin.Technological diversification,slack resources and firm performance[J].Science Research Management,2015,36(11):21-28
[22]Chen Y M,Yang D H,Lin F J.Does technological diversification matter to firm performance?The moderating role of organizational slack[J].Journal of Business Research,2013,66(10):1970-1975.
[23]Palepu,Krishna.Diversification strategy,profit performance and the entropy measure[J].Strategic Management Journal,1985,6(3):239-255.
[24]Penrose E.The theory of the growth of the firm[M].New York:Oxford University Press,1995.
[25]Rumelt R P.Strategy,structure and economic performance[M].London:Pickering&Chatto,2007.
[26]Williamson O E.Markets and hierarchies:Antitrust analysis and implications[M].New York:The Free Press,1975.
[27]Gupta A K,Govindarajan V.Resource sharing among SBUs:Strategic antecedents and administrative implications[J].Academy of Management Journal,1986,29(4):695-714.
[28]Dundas K N M,Richardson P R.Implementing the unrelated product strategy[J].Strategic Management Journal,1982,3(4):287-301.
[29]Hitt M A,Hoskisson R E.Declining U.S.Competitiveness:Reflections on a crisis[J].Academy of Management Executive,1988,2(1):51-60.
[30]Hill C W L,Hoskisson R E.Strategy and structure in the multiproduct firm[J].Academy of Management Review,1987,12(2):331-341.
[31]Jaeger A M,Baliga B R.Control systems and strategic adaptations:Lessons from the Japanese experience[J].Strategic Management Journal,6(2):115-134.
[32]Miller D J.Firms’technological resources and the performance effects of diversification:A longitudinal study[J].Strategic Management Journal,2004,25(11):1097-1119.
[33]Miller D J.Technological diversity,related diversification,and firm performance[J].Strategic Management Journal,2006,27(7):601-619.
[34]Cassiman,Veugelers B,Reinhilde.In search of complementarity in the innovation strategy:Internal R&D and external knowledge acquisition[J].Management Science,2004,52(1):68-82.
[35]Dahlander L,Gann D M.How open is innovation?[J].Research Policy,2010,39(6):699-709.
[36]Sharfman M P,Tansik D A.Antecedents of organizational slack[J].Academy of Management Review,1988,13(4):601-614.
[37]Voss G B,Sirdeshmukh D,Voss Z G.The effects of slack resources and environmental threat on product exploration and exploitation[J].Academy of Management Journal,2008,51(1):147-164.
[38]Danneels E.Organizational antecedents of second-order competences[J].Strategic Management Journal,2008,29(5):519-543.
[39]Kraatz M S,Zajac E J.How organizational resources affect strategic change and performance in turbulent environments:Theory and evidence[J].Organization Science,2001,12(5):632-657.
[40]Debruyne,M,Frambach,R T,Moenaert,R.Using the weapons you have:The role of resources and competitor orientation as enablers and inhibitors of competitive reaction to new products[J].Journal of Product Innovation Management,2010,27(2):161-178.
[41]Paeleman I,Vanacker T.Less is more,or not?On the interplay between bundles of slack resources,firm performance and firm survival[J].Journal of Management Studies,2015,52(6):819-848.
[42]Damanpour F.Organizational innovation:A meta-analysis of effects of determinants and moderators[J].Academy of Management Journal,1991,34(3):555-590.
[43]Tushman M L,Nelson R R.Introduction:Technology,organizations and innovation.[J].Administrative Science Quarterly,1990,35(1):1-8.
[44]Woodman R W,Sawyer J E,Griffin R W.Toward a theory of organizational creativity[J].Academy of Management Review,1993,18(2):293-321.
[45]Nonaka I,Von Krogh G.Tacit knowledge and knowledge conversion:Controversy and advancement in organizational knowledge creation theory[J].Organization Science,2009,20(3):635-652.
[46]Amabile T M,Conti R.Changes in the work environment for creativity during downsizing[J].Academy of Management Journal,1999,42(6):630-640.
[47]Fisher S R,White M A.Downsizing in a learning organization:Are there hidden costs?[J].Academy of Management Review,2000,25(1):244-251.
[48]陈蓉,许培源.研发投入、知识存量与内资企业创新产出——基于高技术产业的经验分析[J].经济与管理评论,2015,31(2):39-45.Chen Rong,Xu Peiyuan.The influence of R&D investment and knowledge stock on innovative output of domestic enterprises:An empirical analysis based on high technology industry[J].Review of Economy and Management,2015,31(2):39-45.
[49]苏昕,刘昊龙.多元化经营对企业绩效的影响——高管持股的调节作用[J].经济问题,2017(4):100-107.Su Xin,Liu Haolong.The effects of diversification on corporate performance:The moderating role of senior managerial ownership[J].On Economic Problems,2017(4):100-107.
[50]Mishina Y,Pollock T,Porac J.Are more resources always better for growth?Resource stickiness in market and product expansion[J].Strategic Management Journal,2004,25(12):1179-97.
[51]林震岩.多变量分析[M].北京:北京大学出版社,2007.Lin Zhenyan.Multivariate analysis[M].Beijing:Peking University press,2007.
[52]孙俊华,刘海建.多元化战略测量方法论及其在中国情境下的应用研究[J].科学学与科学技术管理,2008(1):33-41.Sun Junhua,Liu Haijian.A research on the measure methodology of diversification strategy and its application in chinese context[J]Science of Science and Management of S&T,2008(1):33-41.