Impact of Subsidiary TMT Network Attention on Innovation: The Moderating Role of Subsidiary Autonomy

ABSTRACT This article takes group subsidiaries that were listed in the A-share market of Shanghai and Shenzhen Stock Exchanges in China from 2012 to 2017 as the research subject and innovatively explores the impact of subsidiary TMT (top management team) attention at different networks on subsidiary innovation, considering dual network embedding characteristics and autonomy of subsidiaries. Results show that subsidiary TMT group network attention will inhibit subsidiary innovation, while their external network attention will promote subsidiary innovation, after the inclusion of industry category factors, the effect has changed accordingly, but the moderating effect of subsidiary autonomy on the relationship between subsidiary TMT attention on different networks and subsidiary innovation is always significant. The identification of subsidiary TMT attention not only supplements to current literature's narrow focus on impact of the group parent company attention on subsidiary behaviors, but also broadens theoretical understanding of the driving factors of innovation behavior of subsidiaries. Through expounding on the moderating role of subsidiary autonomy, this article clarifies boundary conditions of subsidiary TMT attention's impact on subsidiary innovation and provides operable guidance for subsidiary TMT to allocate and utilize their attention to promote the development of subsidiary innovation behaviors. 摘要 本文以2012-2017年中国沪深市A股上市且具有集团背景的子公司为对象，结合子公司双重网络嵌入特质，在考虑子公司自主权情况下，创新性的探讨了子公司高管团队不同网络层面注意力对子公司创新的影响。结果表明，子公司高管团队集团网络注意力会抑制子公司创新行为开展，外部网络注意力对子公司创新具有促进作用，子公司自主权可调节子公司高管团队不同网络层面注意力与子公司创新间关系。文章对子公司高管团队注意力的识别，不仅是对以往仅关注母公司高管团队注意力对子公司行为作用的补充，还拓宽了对子公司创新行为驱动因素的理论认知。对子公司自主权调节作用的阐释，明晰了子公司高管团队注意力影响子公司创新的边界条件，并可为子公司高管团队如何分配及利用可促成自身创新行为开展的注意力提供可操作性指导。