The relationship between inventory leanness and product innovation with the contingent role of market concentration

IF 7.3 2区 工程技术 Q1 ENGINEERING, INDUSTRIAL Journal of Manufacturing Technology Management Pub Date : 2023-09-05 DOI:10.1108/jmtm-02-2023-0043
Jingbin Wang, Xinyan Yao, Xuechang Zhu
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Abstract

PurposeThis study aims to demonstrate the simultaneous effects between inventory leanness and product innovation, with market concentration being a moderator.Design/methodology/approachUsing a large panel data collected from 3071 listed manufacturing enterprises from 2004 to 2021, this research employs a simultaneous system of equations via the three-stage least square method to explore the simultaneous relationship between inventory leanness and product innovation. In addition, the moderating role of market concentration is demonstrated via one four-model system.FindingsAs its core, inventory leanness positively impacts product innovation, while product innovation negatively affects inventory leanness. Moreover, there are differential impacts of the leanness of three inventory types on product innovation. Specifically, the inventory leanness of raw material negatively affects product innovation, while the inventory leanness of work-in-process and finished goods positively affect product innovation. Further, moderation analysis highlights that market concentration is a key moderator of this relationship.Practical implicationsManagers should carefully gauge the tradeoffs between inventory leanness and product innovation. Concretely, managers ought to consider the connections between inventory types and product innovation. In addition, managers are suggested to emphasis on market strategy.Originality/valueThis paper not only contributes to the current understanding of inventory leanness by verifying the impact of inventory leanness on product innovation but also investigates the simultaneous relationship between various inventory types and product innovation. Furthermore, it empirically demonstrates the moderating effect of market concentration on the relationship between inventory leanness and product innovation.
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基于市场集中度的库存精益与产品创新的关系
目的本研究旨在证明库存精益与产品创新之间的同步效应,市场集中度是调节因子。本研究采用2004 - 2021年3071家制造业上市企业的大型面板数据,通过三阶段最小二乘法,采用联立方程组来探讨库存精益度与产品创新之间的同时关系。此外,市场集中度的调节作用通过一个四模型系统来证明。发现库存精益是其核心,对产品创新有正向影响,而产品创新对库存精益有负向影响。此外,三种库存类型的精益度对产品创新的影响存在差异。其中,原材料库存精益度对产品创新有负向影响,在制品和产成品库存精益度对产品创新有正向影响。此外,调节分析强调,市场集中度是这一关系的关键调节因子。实际意义管理者应该仔细衡量库存精益和产品创新之间的权衡。具体来说,管理者应该考虑库存类型和产品创新之间的联系。此外,建议管理者重视市场战略。原创性/价值本文通过验证库存精益对产品创新的影响,有助于对库存精益的现有认识,并探讨了各种库存类型与产品创新之间的同步关系。实证证明了市场集中度对库存精益度与产品创新关系的调节作用。
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来源期刊
Journal of Manufacturing Technology Management
Journal of Manufacturing Technology Management Engineering-Control and Systems Engineering
CiteScore
16.30
自引率
7.90%
发文量
45
期刊介绍: The Journal of Manufacturing Technology Management (JMTM) aspires to be the premier destination for impactful manufacturing-related research. JMTM provides comprehensive international coverage of topics pertaining to the management of manufacturing technology, focusing on bridging theoretical advancements with practical applications to enhance manufacturing practices. JMTM seeks articles grounded in empirical evidence, such as surveys, case studies, and action research, to ensure relevance and applicability. All submissions should include a thorough literature review to contextualize the study within the field and clearly demonstrate how the research contributes significantly and originally by comparing and contrasting its findings with existing knowledge. Articles should directly address management of manufacturing technology and offer insights with broad applicability.
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