成本粘性刺激了公司研发创新投入吗?

Does cost stickiness stimulate the company's R&D investment?

以往成本粘性研究多集中在其影响因素,而对其经济后果的探索较少,且多认为成本粘性属于不利因素。本文基于资源基础理论和自组织理论,以研发创新投入为切入点,认为成本粘性催生了资源调整对创新投入的需求,同时也为创新投入提供了剩余资源支持,对研发创新投入具有积极影响。鉴于此,本文以我国2010-2015年A股制造业上市公司为样本,检验了成本粘性与研发创新投入之间的关系。研究发现:成本粘性对企业研发创新投入有积极影响;股权结构和管理者特征对上述关系具有调节作用;环境的动态性对成本粘性与企业研发投入之间关系具有权变影响,即影响了股权结构和管理者特征调节作用的发挥。这一结论为成本粘性的积极经济后果以及研发创新的影响因素研究提供了新的视角。

The previous study on cost stickiness mostly focused on its influencing factors,while the exploration of its economic consequences was less,and the cost stickiness was regarded as a disadvantageous factor. Based on resource-based theory and self-organization theory,this paper takes RD innovation input as the starting point,and concludes that the cost stickiness imposes the demand of resource adjustment on innovation input,and also provides surplus resources support for innovation input,which has a positive impact on RD investment. In view of this,this paper examines the relationship between cost stickiness and RD innovation investment in Chinese manufacturing listed firms in 2010-2015. It is found that cost stickiness has a positive effect on RD investment. The ownership structure and management characteristics have a moderating effect on the above relationship. The dynamics of environment has a contingency effect on the relationship between cost stickiness and firm RD investment,which affects the ownership structure and the regulation of the role of management characteristics. This result provides a new perspective for the study of the positive economic consequences of cost stickiness and the influencing factors of RD innovation.