Research Policy最新文献

英文中文

Export controls and innovation transfer within Chinese business groups: Evidence from the U.S. entity list 中国企业集团内部的出口管制和创新转移：来自美国实体名单的证据

IF 8 1区管理学 Q1 MANAGEMENT

Research Policy

Pub Date : 2025-08-13 DOI: 10.1016/j.respol.2025.105311

Yuhan He, Jinqiu Lyu

This paper investigates the positive effect of U.S. export controls on the innovation performance of firms in Chinese business groups. Using annual microdata from 2010 to 2022, we analyze how firms indirectly affected by the U.S. entity list respond to these shocks. The positive effect of export controls on innovation performance is evident when indirectly shocked firms are peers of the blacklisted firms and becomes even more pronounced when they are upstream of the blacklisted firms, driven by the need for suppliers to initiate their own innovations. Additionally, we find that both capital and talent within the group are reallocated to these indirectly affected firms following the sanctions. These findings suggest that business groups serve as an internal innovation market, where innovation transfer occurs through inter-firm industrial interaction and resource reallocation. However, the shocks show no significant effect on the innovation performance of the group as a whole, rejecting the hypothesis of overall innovation enhancement. Further analysis reveals that export controls significantly improve firms' productivity, illustrating positive spillover effects on product markets. Overall, this study reveals that export controls drive innovation transfer within Chinese business groups and accelerate technological decoupling from the United States.

本文考察了美国出口管制对中国企业集团企业创新绩效的积极影响。利用2010年至2022年的年度微观数据，我们分析了受美国实体名单间接影响的公司如何应对这些冲击。当间接受到冲击的企业与被列入黑名单的企业处于同一水平时，出口管制对创新绩效的积极影响是明显的，当这些企业处于被列入黑名单的企业的上游时，这种积极影响就更加明显了，因为供应商需要启动自己的创新。此外，我们发现，在制裁之后，集团内部的资本和人才都被重新分配给了这些间接受影响的公司。研究结果表明，企业集团作为企业内部创新市场，通过企业间产业互动和资源再配置实现创新转移。然而，冲击对整体创新绩效没有显著影响，否定了整体创新增强的假设。进一步分析表明，出口管制显著提高了企业的生产率，说明了对产品市场的积极溢出效应。总体而言，本研究表明出口管制推动了中国企业集团内部的创新转移，并加速了与美国的技术脱钩。

{"title":"Export controls and innovation transfer within Chinese business groups: Evidence from the U.S. entity list","authors":"Yuhan He, Jinqiu Lyu","doi":"10.1016/j.respol.2025.105311","DOIUrl":"10.1016/j.respol.2025.105311","url":null,"abstract":"<div><div>This paper investigates the positive effect of U.S. export controls on the innovation performance of firms in Chinese business groups. Using annual microdata from 2010 to 2022, we analyze how firms indirectly affected by the U.S. entity list respond to these shocks. The positive effect of export controls on innovation performance is evident when indirectly shocked firms are peers of the blacklisted firms and becomes even more pronounced when they are upstream of the blacklisted firms, driven by the need for suppliers to initiate their own innovations. Additionally, we find that both capital and talent within the group are reallocated to these indirectly affected firms following the sanctions. These findings suggest that business groups serve as an internal innovation market, where innovation transfer occurs through inter-firm industrial interaction and resource reallocation. However, the shocks show no significant effect on the innovation performance of the group as a whole, rejecting the hypothesis of overall innovation enhancement. Further analysis reveals that export controls significantly improve firms' productivity, illustrating positive spillover effects on product markets. Overall, this study reveals that export controls drive innovation transfer within Chinese business groups and accelerate technological decoupling from the United States.</div></div>","PeriodicalId":48466,"journal":{"name":"Research Policy","volume":"54 9","pages":"Article 105311"},"PeriodicalIF":8.0,"publicationDate":"2025-08-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144829980","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

A new approach to measuring invention commercialization: An application to the SBIR program 衡量发明商业化的新方法：在SBIR计划中的应用

IF 8 1区管理学 Q1 MANAGEMENT

Research Policy

Pub Date : 2025-08-13 DOI: 10.1016/j.respol.2025.105302

Carlo Bottai , Gaétan de Rassenfosse , Emilio Raiteri

Measuring the commercialization of patented inventions remains a key challenge in innovation studies. This paper introduces a novel, web-based method for tracking the commercialization of patented inventions. The method leverages targeted web searches to identify online traces of commercialization, offering a scalable alternative to surveys and case studies. We apply this method to patents arising from the U.S. Department of Defense’s Small Business Innovation Research program, linking 3070 patents to procurement contracts and assessing their commercialization outcomes. The results indicate that 21.5% of these patents show signs of commercialization, with variations across R&D stages and contract phases. The method provides a systematic way to identify market adoption of patented technologies and can be extended to other contexts where identifying commercialized patents is relevant.

衡量专利发明的商业化仍然是创新研究中的一个关键挑战。本文介绍了一种新颖的基于网络的专利发明商业化跟踪方法。该方法利用有针对性的网络搜索来识别在线商业化的痕迹，为调查和案例研究提供了可扩展的替代方案。我们将这种方法应用于来自美国国防部小企业创新研究项目的专利，将3070项专利与采购合同联系起来，并评估其商业化结果。结果表明，21.5%的专利显示出商业化的迹象，在研发阶段和合同阶段有所不同。该方法提供了一种系统的方法来确定专利技术的市场采用情况，并可扩展到确定商业化专利相关的其他情况。

引用次数: 0

Health and creativity: Evidence from corporate innovation 健康与创造力：来自企业创新的证据

IF 8 1区管理学 Q1 MANAGEMENT

Research Policy

Pub Date : 2025-08-12 DOI: 10.1016/j.respol.2025.105310

Truc (Peter) Do , Kelvin Jui Keng Tan , Yanhui Wu

This study examines how workforce health affects corporate innovation output. At the inventor level, we show that healthier individual inventors, measured using facial recognition-based estimates of Body Mass Index, produce more valuable patents. At the firm level, we show that better workforce health is associated with improved innovation output, particularly in the presence of increased creative destruction and product market competition. Improved workforce health enhances corporate innovation primarily through efficiency gains. This study highlights the importance of workforce health as one of the key drivers of innovation and emphasizes the need for firms to prioritize employee health in their innovation strategies.

本研究探讨员工健康如何影响企业创新产出。在发明人层面，我们表明，使用基于面部识别的身体质量指数估计来衡量，更健康的个体发明人产生了更多有价值的专利。在公司层面，我们表明，更好的劳动力健康与改进的创新产出有关，特别是在创造性破坏和产品市场竞争加剧的情况下。劳动力健康状况的改善主要通过提高效率来促进企业创新。本研究强调了员工健康作为创新关键驱动力之一的重要性，并强调了企业在创新战略中优先考虑员工健康的必要性。

引用次数: 0

Using computer vision to measure design similarity: An application to design rights 用计算机视觉测量设计相似度：在设计权利中的应用

IF 8 1区管理学 Q1 MANAGEMENT

Research Policy

Pub Date : 2025-08-12 DOI: 10.1016/j.respol.2025.105309

Egbert Amoncio , Tian Chan , Cornelia Storz

Competition among firms has increasingly been through design. We show how computer vision algorithms can be leveraged to measure the visual similarity of design rights across large data sets of product design images. In particular: we extract and standardize 716,168 unique design images included in US design patents (1976–2023); adapt the structural similarity index measure to quantify design similarities between images; and rigorously validate the resulting measure of design rights similarity. We then use that measure to produce novel empirical evidence that a design space's similarity density exhibits an inverted U-shape with respect to the likelihood of that space's design rights being litigated—a relationship proposed previously but never tested. Our design rights similarity measure should facilitate the exploration of new research questions in the fields of design rights, innovation, and strategy. We grant open access to our code and data resources to encourage research in such fields.

公司之间的竞争越来越多地通过设计展开。我们展示了如何利用计算机视觉算法来衡量产品设计图像的大型数据集的设计权利的视觉相似性。特别是：我们提取并标准化了美国外观设计专利（1976-2023）中包含的716,168个独特的外观设计图像；采用结构相似度指标来量化图像之间的设计相似度；并严格验证由此产生的设计权相似性度量。然后，我们使用该测量来产生新的经验证据，即设计空间的相似密度在该空间的设计权利被提起诉讼的可能性方面呈现倒u形，这是先前提出但从未测试过的关系。我们的设计权相似度量应该有助于在设计权、创新和战略领域探索新的研究问题。我们允许对我们的代码和数据资源的开放访问，以鼓励在这些领域的研究。

引用次数: 0

Organizing transformative innovation: Advancing an organizational research agenda within Transformative Innovation Policy 组织变革创新：在变革创新政策中推进组织研究议程

IF 8 1区管理学 Q1 MANAGEMENT

Research Policy

Pub Date : 2025-08-12 DOI: 10.1016/j.respol.2025.105292

Jane Bjørn Vedel , Jacob Hasselbalch , Susana Borrás , Alan Irwin , Vera Simoneit

In a world increasingly shaped by geopolitical divides, technological disruption, and the climate crisis, Transformative Innovation Policy (TIP) is more essential than ever. However, the TIP research field holds considerable potential to move beyond its current state of the art by incorporating a more sophisticated organizational perspective. This paper responds to a recent call for new analytical tools in TIP by proposing that valuable insights can be drawn from Organization Theory (OT) scholarship. By reviewing and categorizing recent OT research on transformative innovation, we show how engagement with this literature can yield novel insights within key TIP gap areas and beyond. In particular, recent OT work on emotions, social movements, and temporality offers promising opportunities to deepen TIP's understanding of capabilities, experimentation, and the systemic impact of policy interventions. More broadly, this paper contributes to TIP debates by advocating for stronger cross-pollination with OT to enhance the field's theoretical foundation and practical relevance. We conclude that closer interaction between OT and TIP can enable more effective approaches to transformative innovation.

在一个日益受到地缘政治分歧、技术颠覆和气候危机影响的世界，转型创新政策（TIP）比以往任何时候都更加重要。然而，TIP研究领域具有相当大的潜力，可以通过纳入更复杂的组织视角来超越其目前的艺术状态。本文通过提出有价值的见解可以从组织理论（OT）奖学金中获得，回应了TIP中最近对新分析工具的呼吁。通过回顾和分类最近关于变革创新的OT研究，我们展示了与这些文献的接触如何在关键的TIP差距领域内外产生新的见解。特别是，最近关于情绪、社会运动和时间性的OT工作为深化TIP对能力、实验和政策干预的系统影响的理解提供了有希望的机会。更广泛地说，本文通过提倡与OT更强的交叉授粉来增强该领域的理论基础和实践相关性，从而为TIP辩论做出了贡献。我们的结论是，OT和TIP之间更密切的互动可以实现更有效的变革性创新方法。

{"title":"Organizing transformative innovation: Advancing an organizational research agenda within Transformative Innovation Policy","authors":"Jane Bjørn Vedel , Jacob Hasselbalch , Susana Borrás , Alan Irwin , Vera Simoneit","doi":"10.1016/j.respol.2025.105292","DOIUrl":"10.1016/j.respol.2025.105292","url":null,"abstract":"<div><div>In a world increasingly shaped by geopolitical divides, technological disruption, and the climate crisis, Transformative Innovation Policy (TIP) is more essential than ever. However, the TIP research field holds considerable potential to move beyond its current state of the art by incorporating a more sophisticated organizational perspective. This paper responds to a recent call for new analytical tools in TIP by proposing that valuable insights can be drawn from Organization Theory (OT) scholarship. By reviewing and categorizing recent OT research on transformative innovation, we show how engagement with this literature can yield novel insights within key TIP gap areas and beyond. In particular, recent OT work on emotions, social movements, and temporality offers promising opportunities to deepen TIP's understanding of capabilities, experimentation, and the systemic impact of policy interventions. More broadly, this paper contributes to TIP debates by advocating for stronger cross-pollination with OT to enhance the field's theoretical foundation and practical relevance. We conclude that closer interaction between OT and TIP can enable more effective approaches to transformative innovation.</div></div>","PeriodicalId":48466,"journal":{"name":"Research Policy","volume":"54 9","pages":"Article 105292"},"PeriodicalIF":8.0,"publicationDate":"2025-08-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144829977","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Technological change, incumbent dominance, and knowledge base evolution in multi-technology industries: A patent analysis of the global automotive sector 多技术产业中的技术变革、在位者主导地位和知识库演变：全球汽车行业的专利分析

IF 8 1区管理学 Q1 MANAGEMENT

Research Policy

Pub Date : 2025-08-12 DOI: 10.1016/j.respol.2025.105304

Alessandra Perri , Daniela Silvestri , Francesco Zirpoli

Traditional models of creative destruction posit that established firms often stick to their dominant technology, exhibiting resistance to change even when new technologies emerge. However, recent perspectives challenge this view, suggesting that incumbents can adapt and innovate in response to technological disruption. This paper contributes to this debate by asking, “What factors influence incumbent firms' sustained market dominance amidst technological change?” We address this question by focusing on the automotive industry — a multi-technology sector characterised by products integrating diverse technological components with varying rates of change, and where incumbents serve a central role as “systems integrators.” By analysing the patent portfolios of the top 25 automotive Original Equipment Manufacturers (OEMs) over a 30-year period (1990–2019), we provide valuable insights into innovation patterns within the automotive sector, specifically concerning the emergence of new technological fields and shifts in industry composition. Our analysis reveals that the structure and evolution of the industry's knowledge base inherently protect incumbents from new entrants, thereby explaining their dominance. This theoretical perspective, coupled with the observed transformation of the automotive industry, highlights the need to investigate whether incumbents' primacy in technological development alone could prevent a future industry shakeout in the absence of relevant investments in product and process innovation. The paper further argues that incumbent inertia amidst technological discontinuities presents a challenge for policymakers, emphasizing the potential need for regulatory intervention to accelerate the transition towards a greener automotive industry.

传统的创造性破坏模式认为，老牌企业往往坚持自己的主导技术，即使新技术出现，也表现出对变革的抵制。然而，最近的观点挑战了这一观点，认为现有企业可以适应和创新以应对技术颠覆。本文通过提出“在技术变革中，什么因素影响在位企业持续的市场支配地位？”我们通过关注汽车行业来解决这个问题——汽车行业是一个多技术行业，其特点是产品集成了不同技术组件，具有不同的变化率，现有企业作为“系统集成商”发挥着核心作用。通过分析排名前25位的汽车原始设备制造商（oem）在30年期间（1990-2019年）的专利组合，我们为汽车行业的创新模式提供了有价值的见解，特别是关于新技术领域的出现和行业构成的转变。我们的分析表明，行业知识库的结构和演变本质上保护了现有企业免受新进入者的侵害，从而解释了它们的主导地位。这一理论视角，再加上观察到的汽车行业转型，突显出有必要调查现有企业在技术开发方面的主导地位，是否能够在缺乏产品和工艺创新相关投资的情况下，防止未来的行业洗牙。本文进一步认为，技术不连续性中的现有惯性对政策制定者提出了挑战，强调了监管干预的潜在需求，以加速向绿色汽车工业的过渡。

{"title":"Technological change, incumbent dominance, and knowledge base evolution in multi-technology industries: A patent analysis of the global automotive sector","authors":"Alessandra Perri , Daniela Silvestri , Francesco Zirpoli","doi":"10.1016/j.respol.2025.105304","DOIUrl":"10.1016/j.respol.2025.105304","url":null,"abstract":"<div><div>Traditional models of creative destruction posit that established firms often stick to their dominant technology, exhibiting resistance to change even when new technologies emerge. However, recent perspectives challenge this view, suggesting that incumbents can adapt and innovate in response to technological disruption. This paper contributes to this debate by asking, “What factors influence incumbent firms' sustained market dominance amidst technological change?” We address this question by focusing on the automotive industry — a multi-technology sector characterised by products integrating diverse technological components with varying rates of change, and where incumbents serve a central role as “systems integrators.” By analysing the patent portfolios of the top 25 automotive Original Equipment Manufacturers (OEMs) over a 30-year period (1990–2019), we provide valuable insights into innovation patterns within the automotive sector, specifically concerning the emergence of new technological fields and shifts in industry composition. Our analysis reveals that the structure and evolution of the industry's knowledge base inherently protect incumbents from new entrants, thereby explaining their dominance. This theoretical perspective, coupled with the observed transformation of the automotive industry, highlights the need to investigate whether incumbents' primacy in technological development alone could prevent a future industry shakeout in the absence of relevant investments in product and process innovation. The paper further argues that incumbent inertia amidst technological discontinuities presents a challenge for policymakers, emphasizing the potential need for regulatory intervention to accelerate the transition towards a greener automotive industry.</div></div>","PeriodicalId":48466,"journal":{"name":"Research Policy","volume":"54 9","pages":"Article 105304"},"PeriodicalIF":8.0,"publicationDate":"2025-08-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144829978","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Syndication in equity crowdfunding: Performance and the evaluation of experts 股权众筹中的辛迪加：绩效与专家评价

IF 8 1区管理学 Q1 MANAGEMENT

Research Policy

Pub Date : 2025-08-06 DOI: 10.1016/j.respol.2025.105290

Christian Catalini , Xiang Hui

We study investment syndication on an equity crowdfunding platform where experts (syndicate leads) curate and invest in early-stage firms on behalf of other investors in exchange for shared profit. We provide evidence that this model outperforms direct investments, especially for non-Californian startups with less publicly available information. Additional analyses suggest the better performance comes from reduced asymmetric information and lower transaction costs through better access to quality deals and lower effort for evaluating and monitoring startups. Using a large-scale field experiment, we find that investors are more likely to explore syndicate leads’ profiles when provided information about their network size and favorable track record, suggesting that investors value these two attributes when evaluating leads. A survey of 44 active investors shows that large networks are perceived as signals of access to quality deals, reputation, and due diligence, while track record is perceived as a signal of leads’ ability and a direct measure of success. These findings suggest that the syndication model can enhance market efficiency in equity crowdfunding and that emphasizing leads’ professional networks and past performance can be an effective strategy for increasing adoption of the model.

我们研究了股权众筹平台上的投资辛迪加，专家（辛迪加领导）代表其他投资者策划和投资早期公司，以换取共享利润。我们提供的证据表明，这种模式优于直接投资，特别是对于那些公开信息较少的非加州初创公司。其他分析表明，更好的表现来自于信息不对称的减少和交易成本的降低，通过更好地获得高质量的交易，以及更少的评估和监控创业公司的努力。通过一项大规模的现场实验，我们发现，当投资者获得有关辛迪加线索的网络规模和良好记录的信息时，他们更有可能探索辛迪加线索的概况，这表明投资者在评估线索时重视这两个属性。一项针对44位活跃投资者的调查显示，庞大的人脉被视为获得优质交易、声誉和尽职调查的信号，而业绩记录被视为潜在客户能力的信号和成功的直接衡量标准。这些研究结果表明，辛迪加模式可以提高股权众筹的市场效率，强调潜在客户的专业网络和过去的表现可以成为提高该模式采用率的有效策略。

{"title":"Syndication in equity crowdfunding: Performance and the evaluation of experts","authors":"Christian Catalini , Xiang Hui","doi":"10.1016/j.respol.2025.105290","DOIUrl":"10.1016/j.respol.2025.105290","url":null,"abstract":"<div><div>We study investment syndication on an equity crowdfunding platform where experts (syndicate leads) curate and invest in early-stage firms on behalf of other investors in exchange for shared profit. We provide evidence that this model outperforms direct investments, especially for non-Californian startups with less publicly available information. Additional analyses suggest the better performance comes from reduced asymmetric information and lower transaction costs through better access to quality deals and lower effort for evaluating and monitoring startups. Using a large-scale field experiment, we find that investors are more likely to explore syndicate leads’ profiles when provided information about their network size and favorable track record, suggesting that investors value these two attributes when evaluating leads. A survey of 44 active investors shows that large networks are perceived as signals of access to quality deals, reputation, and due diligence, while track record is perceived as a signal of leads’ ability and a direct measure of success. These findings suggest that the syndication model can enhance market efficiency in equity crowdfunding and that emphasizing leads’ professional networks and past performance can be an effective strategy for increasing adoption of the model.</div></div>","PeriodicalId":48466,"journal":{"name":"Research Policy","volume":"54 9","pages":"Article 105290"},"PeriodicalIF":8.0,"publicationDate":"2025-08-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144779406","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Collaboration across the globe: Time zone differences and citations 全球协作：时区差异和引用

IF 8 1区管理学 Q1 MANAGEMENT

Research Policy

Pub Date : 2025-08-02 DOI: 10.1016/j.respol.2025.105296

Miriam Manchin

This research examines how time zone differences among co-authors of peer-reviewed articles influence citations. The analysis reveals that articles with authors spanning wider time zones receive more citations, even after controlling for physical distance, the number of co-authors, the number of countries, time since publication, journal-specific factors, and in some specifications also co-author team specific factors with fixed effects. Specifically, a one-hour increase in the average time zone difference between authors is associated with a 4% increase in citations compared to the sample mean. The relationship exhibits an inverted U-shape, where a time zone difference of 5 to 6 h, which allows for sufficient overlap, yields the highest positive coefficient (about 15% increase in citations). Field specific results indicate that one potential mechanism through which time zone differences can improve publication outcome is by facilitating faster collaboration and accelerating research outcomes.

本研究考察了同行评议文章的共同作者之间的时区差异如何影响引用。分析表明，即使在控制了物理距离、共同作者数量、国家数量、出版时间、期刊特定因素，以及在某些规范中控制了具有固定影响的共同作者团队特定因素之后，作者跨越更广时区的文章也获得了更多的引用。具体来说，作者之间的平均时区差异每增加一个小时，与样本平均值相比，被引次数就会增加4%。这种关系呈倒u形，其中5到6小时的时区差异，允许充分的重叠，产生最高的正系数（约15%的引用增加）。具体领域的结果表明，时区差异可以通过促进更快的合作和加速研究成果来改善发表结果的一种潜在机制。

引用次数: 0

Short technology cycle time and firm innovation: Evidence from China 技术周期短与企业创新：来自中国的证据

IF 8 1区管理学 Q1 MANAGEMENT

Research Policy

Pub Date : 2025-07-31 DOI: 10.1016/j.respol.2025.105305

Junwei Shi , Jiajia Zhang

A theoretical model is developed in this study to account for how the technology cycle time affects firm innovation from the perspective of latecomers. Empirical estimations using data from listed companies in China from 1990 to 2022 are conducted. The results show that the more latecomer firms specialize in technologies with short TCTs, the more likely it is for them to enhance innovation performance. Moderating effects of human capital and R&D investment on the relationship between short TCT and firm innovation are verified. Moreover, the impacts of short TCT on firm innovation are stronger when firms are in environments with high uncertainty; when firms are in highly competitive, high-tech, and high reverse engineering industries; and when firms are private, capital-intensive, and in the earlier stages of the lifecycle. The findings offer new insights into the technological catch-up of latecomers in emerging economies by choosing technologies with short TCTs.

本文建立了一个理论模型，从后发企业的角度来解释技术周期时间对企业创新的影响。利用1990 - 2022年中国上市公司的数据进行实证估计。研究结果表明，后发企业越是专注于技术周期较短的技术，越有可能提升创新绩效。验证了人力资本和研发投入对短期TCT与企业创新关系的调节作用。此外，当企业处于高度不确定性的环境中时，短TCT对企业创新的影响更强；当企业处于高度竞争、高科技和高逆向工程行业时；当公司是私有的，资本密集型的，处于生命周期的早期阶段。研究结果为新兴经济体中后发国家通过选择技术转移时间较短的技术来追赶技术提供了新的见解。

引用次数: 0

Innovation and annual report readability 创新和年度报告可读性

IF 7.5 1区管理学 Q1 MANAGEMENT

Research Policy

Pub Date : 2025-07-28 DOI: 10.1016/j.respol.2025.105301

Dimitrios Gounopoulos , Winifred Huang , Min Yang

We explore the relationship between innovation and annual report readability using multiple innovation metrics. While lower readability can boost innovation, an inverted U-shaped link with patents suggests that excessive opacity becomes counterproductive. We identify two underlying mechanisms—preserving competitive advantages and concealing risks. Consistent with the first mechanism, the innovation-readability link is stronger in competitive markets, where firms reduce transparency to better protect themselves from competitors. In line with the second mechanism, the innovation-readability link is stronger for riskier firms. Overall, our findings support the idea that firms strategically tailor their disclosure to match their innovation needs.

我们使用多个创新指标来探索创新与年度报告可读性之间的关系。虽然较低的可读性可以促进创新，但与专利的倒u型关系表明，过度的不透明度会适得其反。我们确定了两种潜在的机制——保持竞争优势和隐藏风险。与第一种机制一致，创新与可读性的联系在竞争市场中更为强烈，在竞争市场中，企业降低透明度以更好地保护自己免受竞争对手的侵害。与第二种机制一致，对于风险较高的公司，创新与可读性的联系更强。总体而言，我们的研究结果支持这样一种观点，即企业在战略上调整其信息披露以满足其创新需求。

引用次数: 0

首页上一页

下一页尾页

类型

全部化学•材料生命科学医学物理工程技术环境•农林材料科学地球科学法学管理学化学环境科学与生态学计算机科学教育学经济学农林科学人文科学生物学数学物理与天体物理心理学综合性期刊其他工业工程理学历史学农学文学信息工程

数据库

全部 ACS Publications Elsevier ieeexplore Springer The Royal Society of Chemistry Wiley

期刊

Research Policy

全部 Acc. Chem. Res. ACS Applied Bio Materials ACS Appl. Electron. Mater. ACS Appl. Energy Mater. ACS Appl. Mater. Interfaces ACS Appl. Nano Mater. ACS Appl. Polym. Mater. ACS BIOMATER-SCI ENG ACS Catal. ACS Cent. Sci. ACS Chem. Biol. ACS Chemical Health & Safety ACS Chem. Neurosci. ACS Comb. Sci. ACS Earth Space Chem. ACS Energy Lett. ACS Infect. Dis. ACS Macro Lett. ACS Mater. Lett. ACS Med. Chem. Lett. ACS Nano ACS Omega ACS Photonics ACS Sens. ACS Sustainable Chem. Eng. ACS Synth. Biol. Anal. Chem. BIOCHEMISTRY-US Bioconjugate Chem. BIOMACROMOLECULES Chem. Res. Toxicol. Chem. Rev. Chem. Mater. CRYST GROWTH DES ENERG FUEL Environ. Sci. Technol. Environ. Sci. Technol. Lett. Eur. J. Inorg. Chem. IND ENG CHEM RES Inorg. Chem. J. Agric. Food. Chem. J. Chem. Eng. Data J. Chem. Educ. J. Chem. Inf. Model. J. Chem. Theory Comput. J. Med. Chem. J. Nat. Prod. J PROTEOME RES J. Am. Chem. Soc. LANGMUIR MACROMOLECULES Mol. Pharmaceutics Nano Lett. Org. Lett. ORG PROCESS RES DEV ORGANOMETALLICS J. Org. Chem. J. Phys. Chem. J. Phys. Chem. A J. Phys. Chem. B J. Phys. Chem. C J. Phys. Chem. Lett. Analyst Anal. Methods Biomater. Sci. Catal. Sci. Technol. Chem. Commun. Chem. Soc. Rev. CHEM EDUC RES PRACT CRYSTENGCOMM Dalton Trans. Energy Environ. Sci. ENVIRON SCI-NANO ENVIRON SCI-PROC IMP ENVIRON SCI-WAT RES Faraday Discuss. Food Funct. Green Chem. Inorg. Chem. Front. Integr. Biol. J. Anal. At. Spectrom. J. Mater. Chem. A J. Mater. Chem. B J. Mater. Chem. C Lab Chip Mater. Chem. Front. Mater. Horiz. MEDCHEMCOMM Metallomics Mol. Biosyst. Mol. Syst. Des. Eng. Nanoscale Nanoscale Horiz. Nat. Prod. Rep. New J. Chem. Org. Biomol. Chem. Org. Chem. Front. PHOTOCH PHOTOBIO SCI PCCP Polym. Chem.

﹀