The Impact of Interfirm Cooperative R&D on Firm Performance: Evidence from Chinese Publicly Listed Companies

被引：6

作者：

Lo, Kai Lisa ^{[1
]}

Liu, Huizhu ^{[2
]}

Xia, Fei ^{[2
]}

Mi, Jackson Jinhong ^{[1
]}

机构：

[1] Shanghai Maritimes Univ, Sch Econ & Management, 1550 Haigang Rd, Shanghai 201306, Peoples R China

[2] Shanghai Univ Finance & Econ, Inst Finance & Econ, Shanghai, Peoples R China

来源：

EMERGING MARKETS FINANCE AND TRADE | 2023年 / 59卷 / 02期

基金：

中国国家自然科学基金;

关键词：

interfirm cooperative R&D; financial performance; technological innovation performance; technical leaders; technical followers; DEVELOPMENT INVESTMENT; OPPORTUNISTIC BEHAVIOR; FINANCIAL PERFORMANCE; CREDIT CONSTRAINTS; OPEN INNOVATION; ORIENTATION; TECHNOLOGY; COMMERCIALIZATION; CYCLICALITY; CAPABILITY;

D O I：

10.1080/1540496X.2022.2103402

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

With the development of the economy, collaborative R&D has become an important tool for Chinese companies to improve their performance. This paper explores the relationship between inter-firm collaborative R&D and firm performance in terms of both financial performance and technological innovation performance. Using panel data of more than 1,300 Chinese listed companies from 2007 to 2016 and using multiple regression analysis, we find that inter-firm collaborative R&D has a positive impact on technological innovation performance and potential market competitiveness, but a negative impact on profitability indicators. In addition, we further divided the companies into technology "leaders" and "followers," and the results showed that the benefits of collaborative R&D are greater for the followers.

引用

页码：391 / 403

页数：13

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