{"title":"Can stakeholders’ attention to innovation promote corporate innovation?","authors":"Haixia Yang, Hongbo Pan","doi":"10.1108/nbri-09-2023-0079","DOIUrl":null,"url":null,"abstract":"<h3>Purpose</h3>\n<p>Given the significance of innovation in enabling firms to maintain a long-term competitive edge and secure excess profits, this paper aims to investigate whether and how stakeholders’ attention to innovation (SATI) influences corporate innovation.</p><!--/ Abstract__block -->\n<h3>Design/methodology/approach</h3>\n<p>This paper introduces a novel variable, SATI, which is achieved by segmenting stakeholders’ attention into two categories: attention to innovation and attention to other facets, using textual analysis methods. Subsequently, this paper empirically examines the influence of SATI on corporate innovation.</p><!--/ Abstract__block -->\n<h3>Findings</h3>\n<p>This paper finds that SATI positively affects corporate innovation input, and the result remains true after addressing possible endogeneity issues using instrumental variable regression. Furthermore, the positive effect of SATI on corporate innovation is stronger in firms facing greater financing constraints, thus verifying the financing constraints hypothesis. The positive effect is also stronger in firms with lower risk-taking levels, thus confirming the innovation failure tolerance hypothesis. Further analysis suggests that SATI increases both corporate innovation output and efficiency, thus ruling out the catering hypothesis.</p><!--/ Abstract__block -->\n<h3>Originality/value</h3>\n<p>This paper highlights the importance of SATI in driving corporate innovation. It enriches the literature on the repercussions of stakeholders’ attention and determinants of corporate innovation. In addition, it provides practical suggestions for further implementing China’s national innovation-driven development strategy.</p><!--/ Abstract__block -->","PeriodicalId":44958,"journal":{"name":"Nankai Business Review International","volume":"17 1","pages":""},"PeriodicalIF":1.8000,"publicationDate":"2024-02-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Nankai Business Review International","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.1108/nbri-09-2023-0079","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q3","JCRName":"MANAGEMENT","Score":null,"Total":0}
引用次数: 0
Abstract
Purpose
Given the significance of innovation in enabling firms to maintain a long-term competitive edge and secure excess profits, this paper aims to investigate whether and how stakeholders’ attention to innovation (SATI) influences corporate innovation.
Design/methodology/approach
This paper introduces a novel variable, SATI, which is achieved by segmenting stakeholders’ attention into two categories: attention to innovation and attention to other facets, using textual analysis methods. Subsequently, this paper empirically examines the influence of SATI on corporate innovation.
Findings
This paper finds that SATI positively affects corporate innovation input, and the result remains true after addressing possible endogeneity issues using instrumental variable regression. Furthermore, the positive effect of SATI on corporate innovation is stronger in firms facing greater financing constraints, thus verifying the financing constraints hypothesis. The positive effect is also stronger in firms with lower risk-taking levels, thus confirming the innovation failure tolerance hypothesis. Further analysis suggests that SATI increases both corporate innovation output and efficiency, thus ruling out the catering hypothesis.
Originality/value
This paper highlights the importance of SATI in driving corporate innovation. It enriches the literature on the repercussions of stakeholders’ attention and determinants of corporate innovation. In addition, it provides practical suggestions for further implementing China’s national innovation-driven development strategy.
期刊介绍:
Nankai Business Review International (NBRI) provides insights in to the adaptation of American and European management theory in China, the differences and exchanges between Chinese and western management styles, the relationship between Chinese enterprises’ management practice and social evolution and showcases the development and evolution of management theories based on Chinese cultural characteristics. The journal provides research of interest to managers and entrepreneurs worldwide with an interest in China as well as research associations and scholars focusing on Chinese problems in business and management.