环境包容性和动态性对技术关联与绩效关系的调节效应研究

The Moderating Effect of Environmental Munificence and Dynamism on the Relationship Between Technological Relatedness and Firm Performance

在多元化企业中,技术关联一直被认为能对企业绩效产生正向影响,但忽略了过高的技术关联对企业绩效产生的负面作用。另外,外部环境是影响企业技术创新的重要因素,因而需要同时考虑外部环境对技术关联与企业绩效关系的调节作用。采用中国高技术上市公司2004—2010年的面板数据,实证分析技术关联与企业绩效的关系以及环境包容性和动态性对两者关系的调节作用。结果表明,技术关联与企业绩效呈倒U型关系;环境包容性和动态性负向调节技术关联与企业绩效的关系。

In diversified firms, technological relatedness has been suggested as positive effects on corporate perfor- mance. However, firms with an over exceedingly high degree of technological relatedness may have negative ef- fects on corporate performance. In addition, environment is an important factor which can influence technological innovation. The paper takes environment as a variable which can moderate the effects of technological relatedness on performance. By taking china high-tech listed companied from 2004-2010 panel data as an example, the paper analyzes the relationship between the technological relatedness and enterprise performance and environmental munif- icence and environmental dynamism have moderating effects on this relationship. The result shows that technologi- cal relatedness has an inverted U-shaped relationship with performance. Environmental munificence and environmen- tal dynamism have negatively moderate the relationship between technological relatedness and firm performance