High-tech acquisitions: How acquisition pace, venture maturity, and founder retention influence firm innovation

2022 ◽  
Vol 142 ◽  
pp. 620-635
Author(s):  
Manjot S. Bhussar ◽  
Jennifer C. Sexton ◽  
Michelle L. Zorn ◽  
Yue Song
Keyword(s):  
High Tech ◽  
Firm Innovation

Human capital and innovation: mixing apples and oranges on the board of high-tech firms

2019 ◽  
Vol 58 (5) ◽  
pp. 897-926 ◽  
Author(s):  
Fabrizia Sarto ◽  
Sara Saggese ◽  
Riccardo Viganò ◽  
Marianna Mauro
Keyword(s):  
Human Capital ◽  
Ordinary Least Squares ◽  
Primary Sources ◽  
Limited Attention ◽  
High Tech ◽  
Firm Innovation ◽  
High Tech Industry ◽  
Content Type ◽  
The Relationship ◽  
Practical Implications

Purpose The purpose of this paper is to provide insights into the implications of board human capital heterogeneity for company innovation by focusing on the educational and the functional background of directors. Moreover, it examines the moderating effect of the CEO expertise-overlap within the innovation domain on the relationship between board human capital heterogeneity and firm innovation. Design/methodology/approach The hypotheses are tested through a set of ordinary least squares regressions on a unique dataset of 149 Italian high-tech companies observed between 2012 and 2015. Findings Findings show that the educational and the functional background heterogeneity of directors increase both the innovation input and output. However, results highlight that these relationships are negatively moderated by the CEO expertise-overlap within the innovation domain. Practical implications The paper emphasizes the importance of appointing directors with different and specific educational and functional backgrounds to foster the company innovation. Originality/value The paper fills a gap in the literature as it has devoted limited attention to the performance implications of board human capital heterogeneity in the high-tech industry where knowledge and skills are the primary sources of value. Moreover, the paper integrates the research on the CEO-board interface by shedding light on how the CEO expertise within the innovation domain affects the contribution of heterogeneous boards to company innovation.

The best spatial scale of firm innovation networks: Evidence from Shanghai high‐tech firms

2018 ◽  
Vol 49 (4) ◽  
pp. 696-711 ◽  
Author(s):  
Xianzhong Cao ◽  
Gang Zeng ◽  
Tangwei Teng ◽  
Yuefang Si
Keyword(s):  
Spatial Scale ◽  
High Tech ◽  
Innovation Networks ◽  
Firm Innovation

Do government subsidies crowd out technological capabilities?

2020 ◽  
Vol 14 (4) ◽  
pp. 895-913
Author(s):  
Shuangying Chen ◽  
Feng Fu ◽  
Tingting Xiang ◽  
Junli Zeng
Keyword(s):  
Fixed Effects ◽  
Transitional Economy ◽  
Future Research ◽  
High Tech ◽  
Crowding Out ◽  
Technological Capabilities ◽  
Firm Innovation ◽  
Content Type ◽  
Government Subsidies ◽  
Crowd Out

Purpose Extant research on the crowding-out effects of government subsidies on the positive role of firm innovation resources or activity remains limited. This paper aims to investigate the crowding-out effects of subsidies on the utilization of technological capabilities and also the contingency mechanisms of market-oriented economy based on the resource-based view (RBV), given the co-existence of the subsidies and technological capabilities for firm innovation in transitional economy. Design/methodology/approach This paper used panel data of 115 Chinese high-tech firms from 2002 to 2010. Fixed-effects model was used to test several hypotheses. Findings This paper empirically demonstrates that the subsidies crowd out the utilization of firms’ technological capabilities for invention outcomes in the near-term. Furthermore, this paper finds that the crowding-out effects are weaker when firms have high export intensity or are located in provinces with high market-oriented systems. Research limitations/implications The findings of this paper apply to Chinese firms. Future research could test their generalizability to different samples and other transitional economies. Practical implications This paper highlights the crowding-out effects of the subsidies, revealing that high-tech firms should balance the direct effects and crowding-out effects of the subsidies. Originality/value This paper highlights the neglected interactions between the subsidies and technological capabilities based on RBV and provides a more nuanced understanding of the crowding-out effects of the subsidies in transitional economy.

scholarly journals Alliance Network Diversity and Innovation Ambidexterity: The Differential Roles of Industrial Diversity, Geographical Diversity, and Functional Diversity

2020 ◽  
Vol 12 (3) ◽  
pp. 1041 ◽  
Author(s):  
Guiyang Zhang ◽  
Chaoying Tang ◽  
Yong Qi
Keyword(s):  
Functional Diversity ◽  
High Tech ◽  
Firm Innovation ◽  
Organizational Learning Theory ◽  
Knowledge Based ◽  
Network Diversity ◽  
Alliance Network ◽  
Industrial Diversity ◽  
The Empirical Analysis ◽  
Exploratory Innovation

Innovation ambidexterity, namely, performing exploitative and exploratory innovation simultaneously, is important for high-tech firms to achieve sustainable success. This can be achieved by building an egocentric alliance network. Research into the influence of alliance network diversity on innovation ambidexterity is seeing more attention. However, the differences among multiple alliance network diversities are unclear. Grounded on a knowledge-based view, organizational learning theory, and transaction cost theory, this study investigates in-depth the roles of geographical diversity, industrial diversity, and functional diversity of the alliance network. The empirical analysis based on panel data, including alliance data from the SDC Joint & Venture database and patent data from the Derwent Innovation Index database of 106 top high-tech firms from electronic information and biopharmaceutical industries, suggests that industrial diversity enhances firm innovation ambidexterity, geographical diversity impedes firm innovation ambidexterity, and functional diversity shows an inverted U-shaped relationship with firm innovation ambidexterity. These results provide practical suggestions about alliance network diversity configuration and innovation ambidexterity construction for high-tech firms.

scholarly journals CUSTOMER CONCENTRATION AND EXPLORATORY INNOVATION: THE MEDIATING EFFECT OF PERCEIVED PERFORMANCE-REDUCING THREATS

2021 ◽  
Vol 22 (4) ◽  
pp. 940-957
Author(s):  
Wanxiao Zhao ◽  
Chengyuan Wang ◽  
Liang Wan ◽  
Qiong Wang ◽  
Biao Luo
Keyword(s):  
Underlying Mechanism ◽  
Mediating Effect ◽  
High Tech ◽  
Firm Innovation ◽  
Research Attention ◽  
Listed Firms ◽  
Empirical Results ◽  
Perceived Performance ◽  
The Relationship ◽  
Exploratory Innovation

A great deal of research attention has been devoted to studying the effects of customer concentration on firm strategic acts. Scholars have also investigated the relationship between customer concentration and firm innovation, but concluded inconsistent findings of such relationship. Furthermore, the underlying mechanism remains unclear. To address these concerns, this study decouples exploratory innovation from firm innovation and introduce performance-reducing threats perceived by the executives as the mediator. Based on the observations of China high-tech listed firms from 2011 to 2018, empirical results show that customer concentration has a U-shaped relationship with exploratory innovation, via the mediating effect of performance-reducing threats perceived by the executives.

scholarly journals Does Higher Education Promote Firm Innovation in China?

2020 ◽  
Vol 12 (18) ◽  
pp. 7326
Author(s):  
Xia Pan ◽  
Yuning Gao ◽  
Dong Guo ◽  
Wenyin Cheng
Keyword(s):  
Higher Education ◽  
Census Data ◽  
Negative Impact ◽  
Positive Impact ◽  
Higher Education Institutions ◽  
High Tech ◽  
Firm Level ◽  
Firm Innovation ◽  
Mixed Effect ◽  
Level Data

Endogenous growth theories have underpinned the pivotal role of education in innovation. However, our empirical study uncovers a mixed effect of higher education on firm innovation in China. Using Chinese Patent Census Data, a unique dataset, this paper is able to quantify innovation in China by incorporating a quality dimension for the first time. By merging the patent data with the Chinese Industrial Enterprise Database and province-level data on education, we find that the number of higher education institutions has a negative impact on firm-level innovation. However, the quantity of elite higher education institutions at the provincial level exerts a positive impact on firm innovation. In addition, heterogeneity analyses show that the effect of elite higher education on firm innovation is significantly positive for privately owned enterprises, but insignificant for state- and foreign-owned enterprises. Furthermore, the positive effect of elite higher education on innovation in high-tech industries is larger than in other industries.

Can TMT vertical pay disparity promote firm innovation performance? The moderating role of CEO power and board characteristics

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Xi Zhong ◽  
He Wan ◽  
Ge Ren
Keyword(s):  
Innovation Performance ◽  
High Tech ◽  
Principal Agent ◽  
Ceo Power ◽  
Firm Innovation ◽  
Principal Agent Theory ◽  
Content Type ◽  
Tournament Theory ◽  
Agent Theory ◽  
Pay Disparity

PurposeBased on the tournament theory and the principal agent theory, this study aims to empirically investigate how top management team (TMT) vertical pay disparity (the pay disparity between the CEO and non-CEO executives) influences firm innovation performance.Design/methodology/approachThis study empirically tested the hypotheses based on a sample of listed high-tech companies in China during the period between 2007 and 2018.FindingsTMT vertical pay disparity promotes innovation performance; CEO power undermines the positive effect of TMT vertical pay disparity on innovation performance; the negative moderating effect of CEO power is mitigated by board age and gender and educational levels, whereas the proportion of female directors has no such effect at any significant level.Originality/valueThis study uniquely contributes to the theoretical and empirical development of tournament theory and the principal agent theory.

Scientific collaboration networks and firm innovation: the contingent impact of a dynamic environment

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Jing Yang ◽  
Jing Zhang ◽  
Deming Zeng
Keyword(s):  
Scientific Collaboration ◽  
Negative Binomial ◽  
Dynamic Environment ◽  
Collaboration Network ◽  
High Tech ◽  
Market Dynamics ◽  
Collaboration Networks ◽  
Firm Innovation ◽  
Content Type ◽  
The Impact

PurposeThe environment in high-tech industries is highly dynamic, and after COVID-19, it has become even more unpredictable. Hence, it has become critical for firms to develop strategies to cope with a highly dynamic environment. This paper aims to analyze how the impact of the scientific collaboration networks with URIs (universities and research institutes) on firm innovation performance is contingent on technological and market dynamics.Design/methodology/approachUsing a sample of 174 Chinese firms in the new-energy vehicle industry during 2004–2015, the authors applied a random-effects negative binomial modeling approach to model these relationships.FindingsA broad and strong scientific collaboration network promotes firm innovation network effects are contingent on technological and market dynamics. While technological dynamics strengthen the effect market dynamics weaken it due to the different purposes of collaboration for firms and URIs.Practical implicationsFirms should adjust the structure of scientific collaboration networks with URIs when facing different environments. The government should encourage firms to jointly research with diverse URIs and play an active role in stabilizing market environments.Originality/valueThis study contributes to the academic debate on university-industry scientific collaborations. Applying the temporary competitive advantage (TCA) framework, we provide nuances to the literature that studies the factors that condition the effects of networks. This study also adds to the research on firm scientific collaboration networks by measuring networks based on the coauthorship between firms and URIs.

scholarly journals Exploring the Relationship Between Value Modularity, Knowledge Transfer, and Firm Innovation Performance: Evidence From China

2022 ◽  
Vol 12 ◽  
Author(s):  
Jianhua Wang ◽  
Yan Zhao ◽  
Xiao Han ◽  
Luying Li ◽  
Samma Faiz Rasool
Keyword(s):  
Knowledge Management ◽  
Evaluation Method ◽  
Comprehensive Evaluation ◽  
Innovation Performance ◽  
Hierarchical Regression ◽  
High Tech ◽  
Resource Integration ◽  
Firm Innovation ◽  
Comprehensive Evaluation Method ◽  
The Relationship

This study aimed to explore the influence the value modularity and a firm’s innovation performance, directly and indirectly, using knowledge management as mediating variable. Moreover, in this study, we used the resource integration ability as a moderator between the relationship value modularity and firm innovation performance. We collected data from the Chinese state-owned and state-controlled high-tech firms from 2011 to 2018. In this study, we used the gray comprehensive evaluation method to test the degree of value modularity, and hierarchical regression analysis is used to analyze the relationship among variables. The outcomes of this study indicate that value modularity and firm innovation performance has inverted U-shaped and significant association. Similarly, results also confirm that knowledge acquisition and knowledge internalization mediate the relationship between value modularity and firm innovation performance. The finding of this research also confirms that resource integration ability negatively affects the relationship between value modularity and firm innovation performance. This paper enriches the research of the value modularity and gives certain inspiration to knowledge management. At the end of this study, we also suggest some significant practical implications.

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