PEER EFFECT OF CORPORATE R&D INNOVATION FROM THE PERSPECTIVE OF UNCERTAINTY

IF 2.6 3区 经济学 Q1 Business, Management and Accounting
Dayong Liu, Yunpeng Cai
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引用次数: 0

Abstract

Based on external uncertainty environment and R&D innovation wave background, this paper explores the impact of information noise caused by economic policy uncertainty and the peer effect on corporate R&D innovation activities, using the multiple regression method and the quarterly data of listed Chinese companies from 2010 to 2020, the influencing mechanism and boundary condition of economic policy uncertainty on the peer effect of corporate R&D were analyzed. Results show that there is a significant peer effect at the industry level in the R&D innovation behavior of corporates, with said effect and the uncertainty of economic policies both significantly stimulate the R&D innovation activities of corporates. The imitation learning path of peer effect is obviously targeted, and corporates in the same industry prioritize corporates with comparative advantages in the industry. Economic policy uncertainty and peer effect also present a certain selection effect on corporate R&D innovation, possibly further enabling corporates with better operating conditions to gain greater market share and gradually eliminate corporates with low R&D innovation ability. The conclusions help decision makers use the peer effect to implement incentive policies and optimize management.
不确定性视角下企业研发创新的同伴效应
本文基于外部不确定性环境和研发创新浪潮背景,探讨了经济政策不确定性引发的信息噪声和同行效应对企业研发创新活动的影响,利用多元回归方法和2010 - 2020年中国上市公司季度数据,分析了经济政策不确定性对企业研发同行效应的影响机制和边界条件。研究结果表明,企业研发创新行为在行业层面上存在显著的同伴效应,同伴效应和经济政策的不确定性都显著地刺激了企业的研发创新活动。同伴效应的模仿学习路径具有明显的针对性,同行业企业优先选择同行业中具有比较优势的企业。经济政策的不确定性和同伴效应对企业研发创新也存在一定的选择效应,可能进一步使经营状况较好的企业获得更大的市场份额,逐步淘汰研发创新能力较低的企业。研究结论有助于决策者利用同伴效应实施激励政策和优化管理。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
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来源期刊
CiteScore
5.80
自引率
3.80%
发文量
48
审稿时长
15 weeks
期刊介绍: The Journal of Business Economics and Management is a peer-reviewed journal which publishes original research papers. The objective of the journal is to provide insights into business and strategic management issues through the publication of high quality research from around the world. We particularly focus on research undertaken in Western Europe but welcome perspectives from other regions of the world that enhance our knowledge in this area. The journal publishes in the following areas of research: Global Business Transition Issues Economic Growth and Development Economics of Organizations and Industries Finance and Investment Strategic Management Marketing Innovations Public Administration.
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