Abstract
This study delves into the bidirectional relationship between collaboration network stability (CS) and technological innovation performance (TIP), and the moderating effect of knowledge network characteristics. Using patent data gathered from China's biotechnology industry between 1985 and 2022, we develop a simultaneous equation model and employ a three‐stage least squares estimation to explore the bidirectional relationship between CS and TIP, as well as to reveal the underlying moderating mechanisms. The results indicate that CS and TIP affect each other. The impact of CS on TIP has an inverted U‐shape, and TIP exerts a negative impact on CS. Knowledge network stability (KS) and diversity (KD) weaken the inverted U‐shaped influence of CS on TIP.
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