利用式R&D向探索式R&D转变会影响企业绩效吗?  

Whether the Translation Between Exploitive and Explorative R&D Has An Effect on Firm Performance? Based on the View of Ambidexterity and Real Earning Management

作　　者：廖勇海[1] 刘益[1] 贾兴平[1] 

机构地区：[1]上海交通大学安泰经济与管理学院,上海200030

出　　处：《科学学与科学技术管理》2015年第5期85-94,共10页Science of Science and Management of S.& T.

基　　金：国家自然科学基金项目(71172128;71132006);长江学者和创新团队发展计划资助项目(IRT13030)

摘　　要：最近的研究认为企业在稳定的可预期的研发投入趋势上的突变点是利用式R&D向探索式R&D转变的信号,同时这一转变过程可以看作是企业顺序型双元创新模式在企业内的具体实施。通过中国沪深两市上市公司样本数据,实证研究了利用式R&D向探索式R&D转变对企业绩效的影响,同时也研究了企业真实盈余管理程度对这一效应的调节影响。研究结果表明,利用式R&D向探索式R&D转变对企业绩效有显著的倒U型效应,即转变幅度超过一定的临界点,效应会由正向变为负向。另外,实证结果还表明,企业真实盈余管理,减弱了这一转变对企业绩效的正向效应,同时加强了这一转变的负向效应。Recent researches propose that a compact, significant change in finn-level R＆D expenditure can be an indicator that a firm is translating from exploitive R＆D to explorative R＆D. This paper focuses on the impact that such translation has on firm performance and tests our hypothesis though using Chinese listed companies. In this study, we also explored the moderating effect of real earning management. Our empirical results suggest that such translation has a reverse U effect on finn value. And the real earning management reduces the positive ef- fect and strengthens the negative effect of such translation on firm performance

关 键 词：双元 利用式R&D 探索式R&D 真实盈余管理 

分 类 号：F204[经济管理—国民经济]