高技术企业创新投入对企业成长的研究——基于企业年龄的调节作用
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摘要
以高技术企业为研究对象,讨论处于不同年龄阶段,针对不同成长速度下,高技术企业创新投入对企业成长的影响作用,对以往研究做出补充。研究发现:高技术企业研发投入对企业成长呈现倒U型关系;在高技术企业中,企业研发投入对于高成长速度的企业促进作用更强,且对于企业成长速度十分缓慢或衰退的企业,高技术企业研发投入并不能有效促进企业成长;对于高技术企业,企业年龄在企业创新对企业成长的影响关系中起到负向调节的作用,并且随着企业成长速度的加快,企业年龄在企业创新与企业成长关系中起到的负向调节作用越来越大。这意味着高技术企业需要适度的进行创新,同时应根据企业特征做出研发策略的调整。
This article takes the high-tech enterprise as the research object,discusses the effect of innovation investment on enterprise growth in high-tech enterprises which are at different age stage and growth speed. It is found that the research and development investment of high-tech enterprises presents inverted U-type relationship with enterprise growth. In high-tech enterprises,R&D investment promotes a stronger role for high growth rate of enterprises,and R&D can't promote the enterprises with slow or declining growth rate. Firm age shows the negative moderating effect on the relationship between R&D and firm growth. Furthermore,faster the growth rate is,the moderating effect of firm age will be more negative. It concludes by calling for balanced innovation,and high-tech enterprises need to consider their characteristic while adjusting their R&D strategy.
This article takes the high-tech enterprise as the research object,discusses the effect of innovation investment on enterprise growth in high-tech enterprises which are at different age stage and growth speed. It is found that the research and development investment of high-tech enterprises presents inverted U-type relationship with enterprise growth. In high-tech enterprises,R&D investment promotes a stronger role for high growth rate of enterprises,and R&D can't promote the enterprises with slow or declining growth rate. Firm age shows the negative moderating effect on the relationship between R&D and firm growth. Furthermore,faster the growth rate is,the moderating effect of firm age will be more negative. It concludes by calling for balanced innovation,and high-tech enterprises need to consider their characteristic while adjusting their R&D strategy.
引文
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[26]杨柳青,梁巧转,康华.基于企业特征调节效应的国家创新体系与企业研发投入研究[J].管理学报,2016,13(05):707-714.
[27]高洪成,王琳.高中低技术产业范围界定标准探析[J].科技进步与对策,2012,29(13):46-48.
[28]Coad A,Segarra A,Teruel M.Innovation and firm growth:Does firm age play a role?[J].Research Policy,2016,45(02):387-400.
[29]顾力刚,韩福荣,徐艳梅.企业年龄研究[J].外国经济与管理,2000(12):8-12.
[30]García-Quevedo J,Pellegrino G,Vivarelli M.R&D drivers and age:Are young firms different?[J].Research Policy,2014,43(09):1544-1556.
[2]曹兴,陈琦,郭然.高技术企业成长模式重构及实现方式[J].管理学报,2010,7(04):570-576.
[3]张维迎,周黎安,顾全林.高新技术企业的成长及其影响因素:分位回归模型的一个应用[J].管理世界,2005(10):94-101.
[4]H9lzl W.Is the R&D behaviour of fast-growing SMEs different?Evidence from CIS III data for 16 countries[J].Small Business Economics,2009,33(01):59-75.
[5]Shanmugam K R,Bhaduri S N.Size,age and firm growth in the Indian manufacturing sector[J].Applied Economics Letters,2002,9(09):607-613.
[6]Evans D S.Tests of alternative theories of firm growth[J].Journal of Political Economy,1987,95(04):657-674.
[7]唐跃军,宋渊洋.中国企业规模与年龄对企业成长的影响---来自制造业上市公司的面板数据[J].产业经济研究,2008(06):28-35.
[8]Oliveira B,Fortunato A.Firm growth and R&D:evidence from the portuguese manufacturing industry[J].Journal of Evolutionary Economics,2017,27(03):613-627.
[9]Faggio G,Konings J.Gross job flows and firm growth in transition countries:evidence using firm level data on five countries[M].Centre for Economic Policy Research,1999.
[10]Saeed A.Does nature of financial institutions matter to firm growth in transition economies?[J].Eurasian Journal of Business and Economics,2009,2(03):73-90.
[11]Nelson R R,Winter S G.The schumpeterian tradeoff revisited[J].The American Economic Review,1982,72(01):114-132.
[12]Brouwer E,Kleinknecht A,Reijnen J O N.Employment growth and innovation at the firm level[J].Journal of Evolutionary Economics,1993,3(02):153-159.
[13]Klette T J,Kortum S.Innovating firms and aggregate innovation[J].Journal of Political Economy,2004,112(05):986-1018.
[14]王核成.R&D投入与企业成长的相关性研究[J].科学管理研究,2001(03):13-16.
[15]De Jong J,Freel M.Absorptive capacity and the reach of collaboration in high-technology small firms[J].Research Policy,2010,39:47-54.
[16]Nunes P M,Serrasqueiro Z,Leit2o J.Is there a linear relationship between R&D intensity and growth?Empirical evidence of non-high-tech vs.high-tech SMEs[J].Research Policy,2012,41(01):36-53.
[17]Brown J,Earle J,Lup D.What makes small firms grow?finance,Human capital,technical assistance,and the business environment in romania[J].Economic Development and Cultural Change,2005,54(01).
[18]张信东,薛艳梅.R&D支出与公司成长性之关系及阶段特征---基于分位数回归技术的实证研究[J].科学学与科学技术管理,2010,31(06):28-33.
[19]Coad A,Rao R.Innovation and firm growth in high-tech sectors:A quantile regression approach[J].Research Policy,2008,37(04):633-648.
[20]García-Manjón J V,Romero-Merino M E.Research,development,and firm growth.Empirical evidence from European top R&D spending firms[J].Research Policy,2012,41(06):1084-1092.
[21]Yasuda T.Firm growth,size,age and behavior in Japanese manufacturing[J].Small Business Economics,2005,24(01):1-15.
[22]Tripsas M,Gavetti G.Capabilities,cognition,and inertia:Evidence from digital imaging[J].Strategic Management Journal,2000,21(10-11):1147-1161.
[23]Reinganum J F.Innovation and industry evolution[J].The Quarterly Journal of Economics,1985,100(01):81-99.
[24]Cefis E,Marsili O.A matter of life and death:innovation and firm survival[J].Industrial and Corporate Change,2005,14(06):1167-1192.
[25]Segarra A,Teruel M.High-growth firms and innovation:an empirical analysis for Spanish firms[J].Small Business E-conomics,2014,43(04):805-821.
[26]杨柳青,梁巧转,康华.基于企业特征调节效应的国家创新体系与企业研发投入研究[J].管理学报,2016,13(05):707-714.
[27]高洪成,王琳.高中低技术产业范围界定标准探析[J].科技进步与对策,2012,29(13):46-48.
[28]Coad A,Segarra A,Teruel M.Innovation and firm growth:Does firm age play a role?[J].Research Policy,2016,45(02):387-400.
[29]顾力刚,韩福荣,徐艳梅.企业年龄研究[J].外国经济与管理,2000(12):8-12.
[30]García-Quevedo J,Pellegrino G,Vivarelli M.R&D drivers and age:Are young firms different?[J].Research Policy,2014,43(09):1544-1556.