Bing Sun , Yanfeng Zhang , Yifan Zhao , Hongying Mao , Min Kang , Tian Liang
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Does continuous innovation failure lead firm innovation to hesitate to press forward?: Evidence from Chinese-listed technology-intensive industries firms
Continuous innovation failure is a common phenomenon in the process of firm innovation. However, little is known about how continuous innovation failure affects firm innovation, and what factors moderate the relationship between them. Using the empirical data from China’s technology-intensive industries listed firms, we find that continuous innovation failure doesn’t lead firm innovation to hesitate to press forward but promotes firms to increase innovation. Managerial overconfidence strengthens the positive impact of continuous innovation failure on firm innovation. Interestingly, managerial power does not enhance but weakens the regulatory role of managerial overconfidence. Further analysis shows that continuous innovation failure will prompt firms to increase exploratory innovation and reduce exploitative innovation. Heterogeneity analysis finds that the promotion effect of continuous innovation failure on firm innovation will be enhanced in firms with higher financial redundancy, but will be weakened in firms with higher R&D subsidies.
期刊介绍：
The Journal of Business Research aims to publish research that is rigorous, relevant, and potentially impactful. It examines a wide variety of business decision contexts, processes, and activities, developing insights that are meaningful for theory, practice, and/or society at large. The research is intended to generate meaningful debates in academia and practice, that are thought provoking and have the potential to make a difference to conceptual thinking and/or practice. The Journal is published for a broad range of stakeholders, including scholars, researchers, executives, and policy makers. It aids the application of its research to practical situations and theoretical findings to the reality of the business world as well as to society. The Journal is abstracted and indexed in several databases, including Social Sciences Citation Index, ANBAR, Current Contents, Management Contents, Management Literature in Brief, PsycINFO, Information Service, RePEc, Academic Journal Guide, ABI/Inform, INSPEC, etc.
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