The effect of innovation performance shortfall on firms’ trade-offs between exploratory and exploitative innovation: Do corporate governance factors matterʔ

IF 3.7 3区 管理学 Q2 BUSINESS Journal of Engineering and Technology Management Pub Date : 2024-01-01 DOI:10.1016/j.jengtecman.2024.101801
Ge Ren , Ping Zeng , Xi Zhong
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Abstract

Whether and when innovation performance shortfall (innovation performance below innovation aspiration) affects firms’ trade-offs between exploratory and exploitative innovation remains an important unexplored question. Based on insights from behavioral theory of the firm and agency theory, we propose that as the innovation performance shortfall widens, firms will devote more resources to exploratory innovation rather than to exploitative innovation. That is, innovation performance shortfall positively affects firms’ relative exploratory innovation emphasis. Furthermore, we propose that board monitoring capacity and analyst coverage enhance the positive effect of innovation performance shortfall on firms’ relative exploratory innovation emphasis. Using data on Chinese listed companies from 2008 to 2020, we obtain empirical evidence supporting most of the above theoretical views.

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创新绩效不足对企业在探索性创新和开发性创新之间权衡的影响:公司治理因素是否重要?
创新绩效不足(创新绩效低于创新期望)是否以及何时会影响企业在探索性创新和开发性创新之间的权衡,这仍然是一个尚未探讨的重要问题。基于企业行为理论和代理理论的见解,我们提出,随着创新绩效不足的扩大,企业将把更多的资源用于探索性创新,而不是开发性创新。也就是说,创新绩效不足会积极影响企业对探索性创新的相对重视程度。此外,我们还提出,董事会监督能力和分析师覆盖率会增强创新绩效缺口对企业相对探索性创新重视程度的积极影响。利用 2008-2020 年中国上市公司的数据,我们获得了支持上述大部分理论观点的实证证据。
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来源期刊
CiteScore
8.00
自引率
6.20%
发文量
29
审稿时长
>12 weeks
期刊介绍: The Journal of Engineering and Technology Management (JET-M) is an international scholarly refereed research journal which aims to promote the theory and practice of technology, innovation, and engineering management. The journal links engineering, science, and management disciplines. It addresses the issues involved in the planning, development, and implementation of technological capabilities to shape and accomplish the strategic and operational objectives of an organization. It covers not only R&D management, but also the entire spectrum of managerial concerns in technology-based organizations. This includes issues relating to new product development, human resource management, innovation process management, project management, technological fusion, marketing, technological forecasting and strategic planning. The journal provides an interface between technology and other corporate functions, such as R&D, marketing, manufacturing and administration. Its ultimate goal is to make a profound contribution to theory development, research and practice by serving as a leading forum for the publication of scholarly research on all aspects of technology, innovation, and engineering management.
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