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机构地区:[1]上海交通大学安泰经济与管理学院,上海200052
出 处:《管理工程学报》2014年第4期95-105,共11页Journal of Industrial Engineering and Engineering Management
基 金:国家自然科学基金资助项目(71072060);教育部人文社会科学研究基金资助项目(11YJA630051)
摘 要:新产品开发过程中,何时、以什么频率向外发布所开发的新产品的信息,是企业经营者需要决策的重要问题。现有的文献对新产品信息发布频率尚无直接研究,对首次发布信息时间的研究也还非常有限。本文基于信号理论和有效市场理论,以2000—2010年间我国上市公司发布的602个新产品项目为样本,采用事件研究法和回归分析,研究了研发阶段企业新产品信息发布的时间与频率策略及其市场效果。结果表明,新产品首次发布信息的时间、发布信息的频率对新产品的市场价值都存在倒U形的影响;开发过程中企业与外部商业伙伴的合作对上述两种影响产生负向的调节作用;新产品的创新性正向调节首次发布信息的时间对新产品市场价值的影响。本文的研究结果对于企业新产品开发阶段信息传播策略具有现实的指导意义。New product developments (NPD) are one of the most important business activities in fueling growth and competitiveness at a firm.Business executives need to make decisions on when and how frequently to release new product information during product development process.However,a close examination of the extant new product development literature (relevant SSCI journals and CSSCI journals) reveals that information release frequency hasn't been explicitly studied.Also studies on the released timing of new product information are very limited.Only three English and one Chinese journal papers have studied timing strategies of new product information releases.The current study primarily focuses on the impact of determinant factors on timing strategies.Very few studies examine the effect of various timing strategies on the market.Drawing on Signal Theory and Efficient Market Theory,this paper investigates how release timing and frequency of new product information affect market value of new product.It also researches how these effects are moderated by new product innovativeness and whether or not to collaborate with business partners.This paper finds that both release timing and frequency of new product information have inverted U-shape relationships with market value of new product.In addition,the degree of innovativeness of a new product positively moderates the effect of release timing and frequency on the market value of a new product.Moreover,collaboration with business partners negatively moderates the effect of the release timing and frequency on the market value of a new product.Following standard practices of archival data collecting,cleaning,and coding processing,we collected 3,882 announcements which are related to 602 NPD projects.These NPD projects have been conducted by 219 firms,and these firms are in eleven industries (medicine or biological product,medical device,automobile,electrical power equipment,appliance,communication equipment,electronic component,consumer electronics,computer hardware
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