负向绩效期望差距是否促进了企业研发投入与营销投入  

Does the Negative Expectation-performance Gap Promote the R&D Investment and Marketing Investment of Enterprises

作　　者：关健[1] 尹静怡 Guan Jian;Yin Jingyi(Business School,Central South University,Changsha 410000,China)

机构地区：[1]中南大学商学院,湖南长沙410000

出　　处：《科技进步与对策》2020年第11期79-88,共10页Science & Technology Progress and Policy

基　　金：国家自然科学基金项目(71872185)。

摘　　要：基于企业行为理论,以2010-2017年中国沪深A股上市企业为样本,探讨负向绩效期望差距影响企业研发投入与营销投入的机制差异,以及媒体关注度对上述关系的调节作用。结果表明,①随着实际绩效和期望目标间负向差距的扩大,企业研发投入和营销投入大幅度显著增长,且营销投入增长幅度更大;②来自行业和资本市场的负向绩效期望差距对两者的影响大于历史负向绩效期望差距的影响,且行业压力和资本市场压力对研发投入、营销投入的影响显著不同;③当绩效不佳企业受到的媒体关注度更高时,负向绩效期望差距对企业研发投入和营销投入的促进作用更强。Based on the behavioral theory of the firm,this paper takes the A-share listed enterprises in Shanghai and Shenzhen from 2010 to 2017 as a sample,and discusses and compares the differences of expectation-performance gap's effect mechanism on R&D investment and marketing investment,as well as the moderating effect of media attention on the above-mentioned relationship.The empirical results show that:with the increase of the negative gap between the actual performance and the expected goal,the R&D investment and marketing investment of enterprises will increase significantly,but the marketing investment will increase more;The effect of negative expectation-performance gap of industry and capital market on firms is greater than that of historical negative expectation-performance gap separately.Besides,the effect of industry pressure and capital market pressure on R&D investment and marketing investment is significantly different.When a firm with relatively poor performance has higher media attention,the negative expectation-performance gap will enhance the R&D investment and marketing investment.Such findings provide a more comprehensive understanding about firms'R&D investment and marketing investment behaviors.

关 键 词：负向绩效期望差距 研发投入 营销投入 媒体关注度 

分 类 号：F273.1[经济管理—企业管理]