Customer concentration, firm R&D investment and moderation effects

IF 10.5 1区管理学 Q1 BUSINESS

Journal of Business Research Pub Date : 2024-10-14 DOI:10.1016/j.jbusres.2024.115009

Shan Zhao , Xinming He , Baichao Ma , Wenming Zuo

引用次数: 0

Abstract

Building on resource dependence theory (RDT) and attention-based view (ABV), this research examines the impact of customer concentration on firm R&D investment and the conditional factors. We argue a firm with heavy reliance on a high number of major customers will have a lower level of R&D investment due to loss of discretion in decision-making and increase of operational risks. Moreover, the external factors, competitive intensity, intellectual property right (IPR) protection, and the internal factor, the firm’s management myopia, will exacerbate the negative effect. Findings from a large sample of A-share listed firms in Chinese stock markets 2008–2017 (14,203 firm-year observations) support our hypotheses. This research adds to the customer concentration studies and RDT literature by uncovering a dark side of firms’ concentrated customer base and the situational factors that strengthen this effect. It also marks an early empirical analysis of ABV-based prediction.

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客户集中度、企业研发投资和调节效应

本研究以资源依赖理论（RDT）和注意力观点（ABV）为基础，探讨了客户集中度对企业研发投资的影响及其条件因素。我们认为，严重依赖大量主要客户的企业会因决策自由裁量权的丧失和运营风险的增加而降低研发投资水平。此外，竞争强度、知识产权保护等外部因素和公司管理近视等内部因素也会加剧负面影响。2008-2017 年中国股票市场 A 股上市公司的大样本研究结果（14203 个公司年观测值）支持了我们的假设。这项研究揭示了企业集中客户群的阴暗面以及强化这种效应的情境因素，从而为客户集中研究和 RDT 文献增添了新的内容。它还标志着基于 ABV 预测的早期实证分析。

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

Journal of Business Research BUSINESS-

CiteScore

20.30

自引率

10.60%

发文量

956

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.