This paper examines the role of innovation in firm performance by drawing empirical evidence from the capital market. The current study analyzes risk premiums and risk-adjusted excess returns of a portfolio of the mos...This paper examines the role of innovation in firm performance by drawing empirical evidence from the capital market. The current study analyzes risk premiums and risk-adjusted excess returns of a portfolio of the most innovative firms in the US from 2006 to 2010. The results show that average risk premiums of an equal-weighted portfolio of the most innovative finns in the US are economically larger than the CRSP2 value-weighted index risk premiums four years in a row from 2006 to 2009 and are economically greater than the standard and poor （S＆P） 500 index risk premiums from 2006 to 2010. The portfolio exhibits average statistically significant and positive risk-adjusted excess returns for the 3-year and 5-year holding period intervals. The findings serve as evidence of the favorable role of innovation in firm performance.展开更多
This paper examines the critical role of globalization as a driver for innovation. The introduction of the global strategy quadruple model truly links the three known strategy perspectives （namely, industry competiti...This paper examines the critical role of globalization as a driver for innovation. The introduction of the global strategy quadruple model truly links the three known strategy perspectives （namely, industry competition, resources and institution views） and performance. The model could assist in advancing the cause of sustainable competitive advantages. This study could assist scholars in addressing the three important research questions： （1） Why are some finns more innovative than others？ （2） What effects do product, firm, industry, and market innovativeness have on business performance？ and （3） Does the link between innovativeness and business performance depend on all or some of the innovativeness factors of product, firm, industry, and market？ The presented set of four hypotheses, when tested, will result in a better understanding of the links and relationships among a firm＇s global strategy, innovativeness, and business performance. The quadruple model presented can be used to examine these relationships in general and in the context of innovation. It is anticipated that this paper will assist researchers, business management, and analysts in developing global innovation strategies.展开更多
Under the highly competitive market economy management system, economic management of Chinese enterprises tends to be diversity. With the continuous development of market economy, enterprises need choose the appropria...Under the highly competitive market economy management system, economic management of Chinese enterprises tends to be diversity. With the continuous development of market economy, enterprises need choose the appropriate management methods according to the actual situation, which is to help enterprises to survive in the highly competitive environment. However, due to a variety of external factors, economic management situation is not optimistic. And it increases their sense of crisis. This article will make a systematic analysis of management strategies as the point of the enterprise management mode and innovation strategy under market economy.展开更多
文摘This paper examines the role of innovation in firm performance by drawing empirical evidence from the capital market. The current study analyzes risk premiums and risk-adjusted excess returns of a portfolio of the most innovative firms in the US from 2006 to 2010. The results show that average risk premiums of an equal-weighted portfolio of the most innovative finns in the US are economically larger than the CRSP2 value-weighted index risk premiums four years in a row from 2006 to 2009 and are economically greater than the standard and poor （S＆P） 500 index risk premiums from 2006 to 2010. The portfolio exhibits average statistically significant and positive risk-adjusted excess returns for the 3-year and 5-year holding period intervals. The findings serve as evidence of the favorable role of innovation in firm performance.
文摘This paper examines the critical role of globalization as a driver for innovation. The introduction of the global strategy quadruple model truly links the three known strategy perspectives （namely, industry competition, resources and institution views） and performance. The model could assist in advancing the cause of sustainable competitive advantages. This study could assist scholars in addressing the three important research questions： （1） Why are some finns more innovative than others？ （2） What effects do product, firm, industry, and market innovativeness have on business performance？ and （3） Does the link between innovativeness and business performance depend on all or some of the innovativeness factors of product, firm, industry, and market？ The presented set of four hypotheses, when tested, will result in a better understanding of the links and relationships among a firm＇s global strategy, innovativeness, and business performance. The quadruple model presented can be used to examine these relationships in general and in the context of innovation. It is anticipated that this paper will assist researchers, business management, and analysts in developing global innovation strategies.
文摘Under the highly competitive market economy management system, economic management of Chinese enterprises tends to be diversity. With the continuous development of market economy, enterprises need choose the appropriate management methods according to the actual situation, which is to help enterprises to survive in the highly competitive environment. However, due to a variety of external factors, economic management situation is not optimistic. And it increases their sense of crisis. This article will make a systematic analysis of management strategies as the point of the enterprise management mode and innovation strategy under market economy.
