Abstract
Network embeddedness is an essential determinant of enterprise innovation, but the mechanism of its impact on innovation performance remains unclear. Based on resource dependence theory, this study analyzes the influence of structural embeddedness and relational embeddedness on innovation performance and introduces technological diversification and state ownership to discuss the mediation and moderation mechanism. Using the patent and financial data of China's listed companies from 2007 to 2016, we tested the theoretical model by panel regression analysis. The results show that there is an inverted U-shaped relationship between relational embeddedness and innovation performance and structural embeddedness exerts a significant positive effect on innovation performance. Technology diversification plays a mediating role between relational embeddedness, structural embeddedness and innovation performance. Compared with nonstate-owned companies, state-owned enterprises are less dependent on network resources. Although the inverted U-shaped relationship between network embedding and innovation performance is weaker, the positive influence of structural embeddedness on innovation performance is stronger.
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