The Impact of Interfirm Cooperative R&D on Firm Performance: Evidence from Chinese Publicly Listed Companies

被引：6
|
作者：
Lo, Kai Lisa [1 ]
Liu, Huizhu [2 ]
Xia, Fei [2 ]
Mi, Jackson Jinhong [1 ]
机构：
[1] Shanghai Maritimes Univ, Sch Econ & Management, 1550 Haigang Rd, Shanghai 201306, Peoples R China
[2] Shanghai Univ Finance & Econ, Inst Finance & Econ, Shanghai, Peoples R China
来源：
EMERGING MARKETS FINANCE AND TRADE | 2023年 / 59卷 / 02期
基金：
中国国家自然科学基金;
关键词：
interfirm cooperative R&D; financial performance; technological innovation performance; technical leaders; technical followers; DEVELOPMENT INVESTMENT; OPPORTUNISTIC BEHAVIOR; FINANCIAL PERFORMANCE; CREDIT CONSTRAINTS; OPEN INNOVATION; ORIENTATION; TECHNOLOGY; COMMERCIALIZATION; CYCLICALITY; CAPABILITY;
D O I：
10.1080/1540496X.2022.2103402
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
With the development of the economy, collaborative R&D has become an important tool for Chinese companies to improve their performance. This paper explores the relationship between inter-firm collaborative R&D and firm performance in terms of both financial performance and technological innovation performance. Using panel data of more than 1,300 Chinese listed companies from 2007 to 2016 and using multiple regression analysis, we find that inter-firm collaborative R&D has a positive impact on technological innovation performance and potential market competitiveness, but a negative impact on profitability indicators. In addition, we further divided the companies into technology "leaders" and "followers," and the results showed that the benefits of collaborative R&D are greater for the followers.
引用
收藏
页码：391 / 403
页数：13
相关论文
共 50 条
  • [11] Impact of advertising expenditure on firm performance: Evidence from listed companies of Pakistan
    Mirza, Hammad Hassan
    Hussain, Haroon
    Gull, Warda
    INTERNATIONAL JOURNAL OF FINANCIAL ENGINEERING, 2022, 09 (03)
  • [12] The impact of COVID-19 on firm innovation: Evidence from Chinese listed companies
    Jin, Xin
    Zhang, Min
    Sun, Guanghua
    Cui, Lixin
    FINANCE RESEARCH LETTERS, 2022, 45
  • [13] SUPPLY NETWORK POSITION AND FIRM PERFORMANCE: EVIDENCE FROM CHINESE LISTED MANUFACTURING COMPANIES
    Shi, Jinyan
    Yang, Jiangheng
    Li, Yanxi
    JOURNAL OF BUSINESS ECONOMICS AND MANAGEMENT, 2019, 20 (06) : 1258 - 1277
  • [14] Tax Incentives, R&D Manipulation, and Corporate Innovation Performance: Evidence from Listed Companies in China
    Sun, Wenyan
    Yin, Kedong
    Liu, Zhe
    SUSTAINABILITY, 2021, 13 (21)
  • [15] Does employing academic executives enhance R&D cost stickiness? Evidence from Chinese listed companies
    Liu, Li
    Hu, Wenxiu
    Wang, Fangyun
    Yang, Li
    ECONOMIC MODELLING, 2025, 145
  • [16] Can fund shareholding inhibit insufficient R&D input?--Empirical evidence from Chinese listed companies
    Li, Xiao
    Liu, Gang
    PLOS ONE, 2021, 16 (03):
  • [17] Diversification and R&D Intensity: An Empirical Analysis of Chinese Listed Companies
    Wei, Xiaoke
    Miao, Renbing
    2007 INTERNATIONAL CONFERENCE ON WIRELESS COMMUNICATIONS, NETWORKING AND MOBILE COMPUTING, VOLS 1-15, 2007, : 5808 - +
  • [18] R&D subsidies, executive background and innovation of Chinese listed companies
    Zhang, Xiuwu
    Wang, Lixiang
    Chen, Feng
    ECONOMIC RESEARCH-EKONOMSKA ISTRAZIVANJA, 2021, 34 (01): : 484 - 497
  • [19] COVID-19 impact on firm investment-Evidence from Chinese publicly listed firms
    Jie, Jiang
    Hou, Jack
    Cangyu, Wang
    HaiYue, Liu
    JOURNAL OF ASIAN ECONOMICS, 2021, 75
  • [20] Is There Any Impact of R&D on Financial Performance? Evidence from Indian Pharmaceutical Companies
    Nandy, Mithun
    FIIB BUSINESS REVIEW, 2020, 9 (04) : 319 - 334
12345