Abstract
Previous studies regarded network stability as an antecedent of innovation. However, there is little research on its antecedent factors. The paper explores and extends the prior research to analyze the influence of network cohesion on network stability within the framework of multi-dimensional proximity. We collected the unbalanced panel data in the information communication technology industry based on the Derwent Innovations Index databases. The research results show that geographic proximity and technological proximity have an invert-U relationship with network stability, and institutional proximity has positively related to network stability. Moreover, network cohesion positively moderates the impact of multi-dimensional proximity on network stability, and network cohesion has a significant effect on network stability.
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