基于演化视角的行业生命周期与创新——以中国制造业上市公司为例  

Industry Life Cycle and Innovation from the Evolutionary Perspective——Based on the Chinese Listed Manufacturing Companies

作　　者：王文翌[1,2] 安同良[1] 

机构地区：[1]南京大学经济学院,南京210093 [2]申万宏源证券有限公司博士后工作站,上海200031

出　　处：《研究与发展管理》2015年第6期87-96,共10页R&D Management

基　　金：国家自然科学基金资助项目"基于微观调查视角的中国制造业企业创新行为的演化研究"(71372036)

摘　　要：基于演化视角,运用2003—2011年中国制造业上市公司数据,对行业生命周期在企业创新投入和绩效中的影响进行了初步探讨.研究发现,成长型、成熟型和衰退型行业的R&D强度与R&D绩效依次下降,成长型行业最高,其次是成熟型行业,最低的是衰退型行业.这表明,行业的创新投入与绩效受到生命周期阶段所代表的技术进步潜力影响——生命周期阶段越早,技术创新的潜力越大,行业整体的R&D强度和绩效也相对较高.此外,实证结果表明,利用资产—价值模型估计上市公司投资绩效有一定的合理性.Based on a dataset of Chinese listed manufacturing companies from 2003 to 2011, it preliminarily studied the influence of industry life cycle on R＆D input and performance from the evolutionary perspective. The result finds that R＆D intensities of the three of types industries go down in turn, growing industry the highest, mature industry in the middle and the declining industry the lowest, so do the R＆D performances. Overall, it means that the industry life cy- cle stage which reflects the technological progress potential determines the industrial R＆D input and performance. The earlier the stage of the life cycle is, the greater the potential of technological innovation is, and the higher industrial in- novation intensity and performance are. In addition, the empirical results indicate that the usage of capital valuation e- quation to estimate the investment performance of listed companies has a certain rationality.

关 键 词：演化 行业生命周期 创新 R&D投入 R&D绩效 

分 类 号：F270.2[经济管理—企业管理]