产业速率分异情景下创新节奏对绩效的影响

A research on the influence of innovation rhythm on firm performance under different industry clockspeed

从纵向时间的角度来看,企业的创新过程呈现出一定的创新轨迹,"节奏"是这一轨迹中重要的时间要素。本文基于机会观的解释逻辑,探索产业速率分异情景下创新节奏的绩效机制问题。利用8个子行业156个上市公司的468个企业年数据,采用可行广义最小二乘法(FGLS),结果表明:(1)在不同的产业速率环境中,创新节奏-企业绩效间呈现不同的关系模式,具体而言,在高速率产业中,创新节奏-企业绩效间呈倒U型关系,在低速率产业中,创新节奏对企业绩效有显著正向影响;(2)组织冗余在创新节奏-企业绩效间起正向调节作用。本文的研究调和了现有创新节奏-企业绩效间关系的结论,也为企业安排特定的创新节奏提供了启示。

In the field of innovation,"innovation"is often regarded as a result,but more and more scholars think that it is necessary to study innovation from the perspective of the process of"time",which requires exploring the innovation trajectory of firms and extracting time patterns,such as"rhythm".From the perspective of vertical time,the innovation process of firms presents a certain track of innovation,"rhythm"is an important time element in this track.Time pacing has become the core component of innovation management;however,based on different theoretical logic,existing studies have examined the relationship between the innovation rhythm and performance,and obtained two types of conflicting views.The first view is that the irregular rhythm has a positive impact on the firm performance,which is often demonstrated from the external perspective of the firm;the second is that the regularized rhythm has a positive impact on the firm performance,which is often demonstrated from the perspective of the firm interior.This paper holds that the above views grasp some aspects of the innovation rhythm,but both neglect to regard"firm innovation"as a kind of forward-looking and preparation activity for the future;an important purpose of innovation activities is to seize the opportunities emerging in the industries.Namely,when studying the effect of innovation rhythm,the explanation logic of"opportunity view"is very important.Based on the explanation logic of the view of opportunity,this paper introduces the external factors(i.e."industrial clockspeed")and internal factors(i.e."organizational slack")of opportunities into the exploration of the relationship between innovation rhythm and firm performance,so as to make up for the deficiency of existing research perspectives and explore the performance mechanism of innovation rhythm in the context of industrial clockspeed differentiation.The data of this paper.On the basis of previous studies,combined with the industry classification standards and data sources of China Securities Regulatory Commission,it is identified that food manufacturing,textile and clothing,automobile manufacturing,wine and beverage and refined tea manufacturing industries are high-speed industries;petroleum processing,coking and nuclear fuel processing industry,paper and paper products industry,railwayaerospace and other transportation equipment manufacturing industry and metal manufacturing industry are low-speed industries.Finally,the total sample is 156 firms,in which 97 high-speed industry samples and 59 low-speed industry samples.The financial data and other firm data in this paper are mainly from the database of flush and the annual report of firms,and the patent data is from the State Intellectual Property Office,which is collected and sorted out manually.Finally,the annual data of 468 firms of 156 listed companies in 8 sub industries of manufacturing industry are obtained.The conclusion of this paper.Based on feasible generalized least squares(FGLS),the following conclusions are obtained.(1)In different industrial clockspeed environments,the relationship between innovation rhythm and firm performance shows different patterns.Specifically,in high-speed industries,the relationship between innovation rhythm and firm performance is inverted U-shaped,and in low-speed industries,innovation rhythm has a significant positive impact on firm performance.(2)Organizational slack plays a positive moderating role between innovation rhythm and firm performance.The theoretical contributions of this paper are as follows.(1)Contribution to the research of innovation process.This paper starts from the emerging research perspective of"rhythm"in the existing organizational theory research,and opens the black box of firm innovation process based on the concept of rhythm.This approach expands the existing innovation research tends to focus on the"quality"and"quantity"aspects,but ignores the time complexity in the innovation process.(2)Contribution to the theory of innovative rhythm.This paper holds that the essence of firm innovation is to identify and grasp the future industrial and technological opportunities.Therefore,it is necessary to describe and explain the relationship between innovation rhythm and firm performance from the perspective of"opportunity view".In fact,when the internal and external variables are introduced into the explanation logic based on the view of opportunity,the relationship between innovation rhythm and firm performance presents a more detailed relationship model;similar ideas can also be tried in the study of other behavior rhythm of firms.(3)Contribution to the study of industrial rate.According to the actual situation of China′s listed companies,this paper sets up eight observation indicators,takes the company′s annual report as the data source,carries out content analysis and statistics,and makes an attempt on eight sub industries,which can be regarded as an attempt to localize the research on industrial rate.The management enlightenment of this paper is as follows.First of all,the firm innovation decision-making needs to go beyond a single,specific innovation behavior,and should focus on the vertical firm innovation trajectory,and the time element in the innovation trajectory should be shaped as the unique advantage source and competition barrier of firm innovation strategy.Secondly,the innovation rhythm of firms needs to match with the industrial factors,especially the factor of industrial clockspeed;specifically,in high-speed industries,firms′innovation needs to adopt the balance strategy or the golden mean strategy,that is,to achieve a balance between the regular innovation rhythm and the irregular innovation rhythm.On the contrary,in the low-speed industry,the firm innovation needs to adopt irregular innovation rhythm.Only in this way can we make better use of industrial opportunities.Finally,firms need to reserve organizational slack,especially not absorbing slack,in order to increase the grasp of industrial opportunities.