Innovation-driven Strategy Research Articles

Research on the Configuration Path of Innovation Performance of Strategic Emerging Enterprises

As vehicles for implementing innovation-driven strategies, the strategic emerging industries are crucial for enhancing national competitiveness and sustainable development. Improving innovation performance in these industries has been a central focus of academic research. Notably, existing studies have primarily analyzed the net effects from a single perspective. This study examined 261 strategic emerging Chinese enterprises listed on the A-share market. Utilizing the Technology–Organization–Environment framework and fuzzy set qualitative comparative analysis, this study explores the impact paths and mechanisms of the coupling configurations of technology, organization, and environment to enhance enterprises’ innovation performance from a configuration perspective. We discovered that, first, no single antecedent condition is necessary to achieve high enterprise innovation performance. However, increasing the level of digital transformation and intensity of innovation investments universally results in high innovation performance. Second, the technological, organizational, and environmental conditions exhibit “multiple concurrency”, forming diverse configurations that drive enterprise innovation performance; hence, the driving paths of enterprise innovation performance are varied. Third, four schemes exist for achieving high innovation performance in strategic emerging enterprises: environment-driven under technological dominance, technology–organization driven type, organization-driven under technological–environmental dominance, and technology–organization–environment co-driven type. Exploring the synergistic paths driving innovation performance from a configuration perspective enhances our understanding of the complex interactions among multiple factors in improving such performance. This provides significant theoretical and practical implications for enterprises aiming to improve their innovation performance.

Informal institutions and corporate innovation: A Perspective from Red Culture

Since the 20th century, Red Culture has served as a significant informal institution guiding revolutionary trajectory and developmental course. However, integrating Red Culture into contemporary corporate management and leveraging its constructive influence within today's market-driven economy necessitates comprehensive exploration and thoughtful consideration. This study aims to explore the potential influence of Red Culture on contemporary innovation. Empirical findings reveal substantial and affirmative effects of Red Culture on corporate innovation. Specifically, a heightened Red Culture ambiance correlates with a marked increase in both innovation input and output within corporate. Further investigation underscores Red Culture's pivotal governance role in mitigating strategic manipulation of innovation and research and development practices, especially within the overarching framework of innovation-driven strategies. Moreover, Red Culture synergizes with formal innovation incentive mechanisms, jointly fostering corporate innovation. This study provides micro-level empirical evidence that elucidates the impact of Red Culture on corporate innovation. Additionally, it furnishes valuable policy insights for the practical implementation and enhancement of pertinent Red Culture initiative.

Dual circulation strategy, regional healthcare development, and medical collaborative innovation efficiency: evidence from Chinese cities.

This study analyzes panel data of Chinese cities from 2003 to 2018 as a sample in the context of the dual circulation strategy in China to ascertain the impact of urban healthcare development on medical collaborative innovation efficiency by using the GS2SLS method. Furthermore, it empirically examines the influence mechanism of regional healthcare development on medical collaborative innovation efficiency by using a threshold regression model. Additionally, we identified the heterogeneity of this impact in different cities. The results show the following: (1) There is a significant positive spatial correlation between regional healthcare development and medical collaborative innovation efficiency; (2) Under the dual circulation strategy, the regional investment level in international circulation has the most significant role in the overall strategy, and domestic circulation has been significantly improved after the launch of the innovation-driven strategy; (3) The results of the threshold test show that while domestic and international circulation promote the efficiency of collaborative innovation by 0.83, the promotion effect is more obvious under a higher regional healthcare development level. The research in this paper can provide specific guidance for the development of China's healthcare industry under the background of dual-cycle strategy, and can also provide valuable reference for developing countries in the world.

Research on Innovative Teaching Model for Hydraulic Building Courses in Local Colleges and Universities

In an innovation-driven era, reforming university innovation and entrepreneurship education is crucial. Analyzing the "Hydraulic Buildings" course and its teaching reforms, combined with foreign innovative talent training models, this paper explores a training program for water conservancy innovative talents. Through literature review and case analysis, we assess domestic and foreign teaching reform achievements and propose further reforms. By enhancing teaching reform, integrating innovation and entrepreneurship education, and fostering industry-university-research cooperation, we aim to improve students' comprehensive quality and innovation ability, supporting the national innovation-driven strategy with water conservancy talents.

Do government innovation preferences enhance ecological resilience in resource-based cities?-Based on mediating effect and threshold effect perspectives.

The ecological resilience of resource-based cities reflects the resilience of the ecological environment in resource-based areas to recover after resource development activities, and good ecological resilience holds great significance for the sustainability of the development of resource-based cities. Government innovation preferences are a solid foundation for implementing an innovation-driven strategy and an important guarantee for realizing an efficient production mode. (the purpose of the study) Therefore, to investigate whether government innovation preferences can promote the level of ecological resilience in resource-based cities. (sample information and empirical methods) This paper establishes a mediating effect model and a threshold effect model and empirically analyzes 2009-2020 panel data covering 113 resource-based cities in China as an example. (main findings) The results show the following: (1) the primary term of government innovation preferences has a positive effect on the ecological resilience of resource-based cities, and the secondary term has a negative effect, with a decreasing marginal effect. Additionally, the educational level has a mediating effect on the mechanism of the impact of government innovation preferences on the ecological resilience of resource-based cities. (2) The role of government innovation preferences in the ecological resilience of resource-based cities is heterogeneous: The impact of government innovation preferences on the ecological resilience of resource-based cities in the western region is stronger than that in the central region, and the impact of government innovation preferences on the ecological resilience of medium-sized resource-based cities is stronger than that of large resource-based cities. (3) The role of environmental decentralization produces a single threshold effect with a threshold value of 2.3993 in the impact of the mechanism of government innovation preferences on the ecological resilience of resource-based cities. (contributions and policy implications) The results of this paper can provide theoretical support for the government to set a reasonable innovation preference intensity, and they provide a practical guarantee for the central government to give more environmental governance power to local governments.

Can digital transformation improve the quality of enterprise innovation in China?

PurposeDigital transformation and innovation-driven development have become an international consensus. The purpose of this paper is to examine the effects of relationships, mechanisms and economic consequences between digital transformation and enterprise innovation quality in order to provide a benchmark for developing countries to implement digital transformation strategies and innovation-driven strategies and provide a major support for economic recovery in the post-coronavirus disease 2019 (COVID-19) era.Design/methodology/approachUsing microdata from A-share listed enterprises in Shanghai and Shenzhen from 2010 to 2021, this study examines the relationship between digital transformation and enterprise innovation quality and further reveals the internal logic and economic consequences of digital transformation to improve enterprise innovation quality through the mediating effect and moderating effect models.FindingsThe results demonstrate that digital transformation is beneficial for improving enterprise innovation quality. The heterogeneity test demonstrates that digital transformation has a larger effect on improving enterprise innovation quality in non-state-owned enterprises and eastern enterprises in China. The mechanism test demonstrates that digital transformation can improve enterprise innovation quality by improving internal control quality and analyst attention. Furthermore, with the increase in enterprise innovation inputs, digital transformation plays a significantly stronger role in improving enterprise innovation quality. The extended analysis demonstrates that digital transformation can significantly improve enterprise financial performance by improving innovation quality.Research limitations/implicationsFirst, the construction of the core explanatory variable digital transformation index in this study is based on the Python data analysis software, which calculates the frequency of digital transformation in the text of the business situation analysis portion of the annual report of the listed companies and then obtains the degree of digital transformation of the company in this year. There may be some deviation from the degree of digital transformation in the actual production and operation of enterprises. Second, in addition to internal control quality and analyst attention, are there other mediating mechanisms for the impact of digital transformation on the quality of enterprise innovation? Third, whether the moderating effect of innovation input on digital transformation and innovation quality is related to human capital factors of the research and development (R&D) team, such as the technical background of R&D personnel, etc.Originality/valueThis study enriches the relevant theories of digital transformation and broadens the research boundaries of digital transformation and enterprise innovation. This study's result provides an empirical basis for enterprises to improve enterprise innovation quality and financial performance from the perspective of digital transformation at the micro level and points out specific practical directions, combining theory with practice.

Role of green technological innovation in the green economic growth in China's natural resource markets

This study examines the impact of green technological innovation in China's natural resource markets on achieving green growth from 2000 to 2020 using a Generalized Method of Moments (GMM) model. It emphasizes the role of renewable energy in promoting the Green Total Factor Productivity (GTFP) and environmental sustainability. The results show that renewable energy technological innovation leads to an increase in GTFP in China as a whole and regionally in Western and Central parts of the country, enhancing the effectiveness of natural resource markets. Green innovation acts as a catalyst, promoting efficiency and carbon emission mitigation. This underscores the importance of innovation and technology in driving sustainable energy transitions in China. Overall, the findings highlight the significance of implementing renewable energy and innovation-driven strategies to address environmental concerns and achieve sustainable development goals in China.

How can regional integration promote corporate innovation? A peer effect study of R&D expenditure

Literature on how regional integration within a country affects corporate innovation is limited. This study proposes a dynamic mechanism for integration of the Yangtze River Delta (YRD) to promote corporate innovation based on the peer effect among enterprises. It constructs a panel regression econometric model and a difference-in-differences (DID) model for empirical analysis using Chinese A-share listed manufacturing companies from 2007 to 2021. The study's results show that corporate innovation has a peer effect in the same industry and same region. The peer effect among enterprises in the same industry in the YRD is more significant than that in other regions, and YRD integration has a greater effect on the corporate innovation of cities with close economic ties in the YRD region. The study's findings indicate that regional integration and innovation-driven strategies adopted by China are highly synergistic. Therefore, accelerating the regional integration of each city cluster, establishing regional economic coordination organizations, and increasing the peer effect of firms in the same city are necessary to promote corporate innovation in China.

A Review of Research on the Relationship Between Pay for Performance and Employee Creativity

Innovation is the primary driving force for China's economic development and transformation. Innovation-driven strategy is the primary strategy for China's economic development. Enterprises are the main body of the market economy. Among them, employees are the source of enterprise development. How to promote employee creativity in enterprise management is also a key consideration for managers. Chinese enterprises are in an important period of compensation system reform. The innovation-driven development strategy urgently needs enterprises to reform the incentive system, and enterprises implement a pay for performance system to stimulate the creativity of employees. The academic research on pay for performance system and employee creativity is also relatively mature. This paper attempts to explore the research progress of pay for performance system on employee creativity from four perspectives: economics, cognitive psychology, behavioral psychology and cognitive neuroscience. And on the basis of comparative analysis, the nonlinear thinking of researchers in this field on the relationship between pay for performance and employee creativity is discussed.

Analysis of Public Technology Collaborative Innovation Based on Private Technology: A Tripartite Evolutionary Game Approach

Public technology collaborative innovation serves as an essential driving force to implement the innovation-driven strategy as well as promote national and regional economic sustainable development. Moreover, strengthening the construction of public technology collaborative innovation system is likewise of great significance for strengthening the quality and technology level of enterprises, enhancing their independent innovation capability, and achieving strategic transformation. Particularly, collaborative innovation of public technology in accordance with mature private technology enables the efficient allocation of technological and economic resources. In practice, there are still issues including high innovation costs, insufficient motivation, and low efficiency of innovation. Existing research typically ignores the technical cooperation among multiple parties. An evolutionary game model of public technology collaborative innovation is established in this paper to examine the interaction mechanism among the government, enterprises, and technology owners. For the purpose of analyzing the dynamic evolution of public technology collaborative innovation behavior and its influencing factors, numerical simulation experiments were conducted with meaningful results: (1) Setting the cost and benefit allocation coefficient in a scientific manner contributes to system stability and promotes cooperation among game players. (2) Reasonable government subsidies and penalties can assist in the formation of an active technological innovation between the firm and the technology owner. (3) The pricing method of private technology transfer is a significant factor influencing the evolution process. Besides, the adoption of a technology pricing method on the basis of government interests is conducive to the formation of a stable tripartite win-win situation. The research on collaborative innovation of public technology is further expanded in this paper, offering a reference for the formulation of relevant policies aimed at promoting cooperation in public technology innovation.

The Geo-economics of U.S.-China Financial Relations: Challenges and Opportunities in a Global Context

This comprehensive scholarly article critically analyzes the intricate landscape of U.S.-China financial relations, delving deep into the complex web of challenges, opportunities, and far-reaching implications within a dynamic and interconnected global context. Drawing upon a wide range of empirical studies, extensive research, and rigorous analysis, this study provides a nuanced assessment of the evolution and dynamics of economic ties between the United States and China. The article begins by examining the impact of trade imbalances, tariffs, and currency manipulation on financial flows, employing a sophisticated analytical framework to assess their implications for both countries and the global economy as a whole. Through a meticulous examination of economic data, policy measures, and market trends, the study offers a comprehensive analysis of the complex interplay between these factors and their influence on financial interactions between the two nations. Furthermore, the article delves into the intricate terrain of technology and intellectual property issues, unraveling the multifaceted challenges and opportunities that arise in this domain. By drawing upon empirical research, case studies, and industry reports, the study sheds light on the implications of technological advancements, intellectual property protection, and innovation-driven strategies on economic growth, competitiveness, and sustainable development. The analysis also extends to the realm of financial market competition and regulatory concerns, highlighting the need for effective cooperation, harmonization of regulations, and establishment of robust governance frameworks. Through an examination of regulatory policies, market structures, and international standards, the study provides insights into the implications of financial market dynamics and regulatory environments on the stability, efficiency, and resilience of the global financial system. In light of these analyses, the article presents strategic recommendations for policymakers, businesses, and investors. It emphasizes the importance of fostering an open and constructive dialogue between the United States and China, enhancing risk assessment mechanisms, promoting innovation and technological collaboration, strengthening intellectual property rights protection, facilitating cross-border investments, and promoting sustainable and responsible practices. By synthesizing these recommendations and implementing them in practice, stakeholders can effectively navigate the complexities and capitalize on the opportunities presented by U.S.-China financial relations. This will not only promote economic growth and stability but also contribute to a more balanced, mutually beneficial, and sustainable global financial system.

DOES ANTI-CORRUPTION FACILITATE OR HINDER TECHNOLOGICAL INNOVATION?

Innovation is a major economic growth contributor, which is often hindered by corruption. However, this relationship is not always supported. This study analyzes the interrelation between anti-corruption (AC) and technological innovation (TI) in China by applying the bootstrap rolling-window full-sample and subsample Granger causality test. The results confirm that the influence of AC on TI is two-fold. On the one hand, AC positively influences TI, indicating that it facilitates TI. This finding supports the “sanding-the-wheels” hypothesis, which postulates that corruption impedes innovation. On the other hand, there is a negative influence from AC to TI, which is mainly caused by the COVID-19 pandemic. Further, the results show that TI positively influences AC, implying that TI can affect government’s AC-related decisions. Based on these findings, governments should coordinate their efforts toward innovation and AC, while firms should adopt innovation-driven strategies for long-term growth.

A quasi-natural experimental study on enterprise innovation driven by urban agglomeration policies in China

It is of great significance to carefully evaluate the actual impact of macro-policy formulation on promoting micro-enterprise innovation and implementing innovation-driven strategies. This study utilizes data from Chinese listed companies between 2012 and 2019 and takes the implementation of urban agglomeration policies as a natural experiment. By employing the multi-period differential method, the driving mechanism of urban agglomeration policies on enterprise innovation is investigated. The results show that: (1) Urban agglomeration policies effectively promote the enhancement of regional enterprises’ innovation capability. (2) Urban agglomeration policies reduce enterprise transaction costs through integration effects, mitigate the influence of geographical distance through spillover effects, and stimulate enterprise innovation. (3) Urban agglomeration policies have a regulatory effect on the siphon and spillover mechanism formed by the central city, thereby driving the innovation and development of peripheral micro-enterprises. (4) Further research from the perspectives of enterprises, industries, and locations reveals that the macro, medium, and micro effects of urban agglomeration policies differ, leading to heterogeneity in enterprise innovation responses. Therefore, it is necessary to continue promoting policy planning for urban agglomerations, enhance the coordination of urban policies within urban agglomerations, adjust the influence of the self-mechanism of urban agglomerations, and foster the formation of a multi-center innovation structure and network within urban agglomerations.

Achieving the sustainable development goals through net zero emissions: Innovation-driven strategies for transitioning from incremental to radical lean, green and digital technologies

This work adopts a resource-based view for strategically managing firms’ tangible and intangible resources based on lean and green philosophies to explore the role of digital technologies in achieving NZE and the SDGs.This research outlines three contemporary issues. First, it assesses the theory-driven approaches and real-world datasets from conference of parties (COP) meetings. Second, adopting the VRIO (Valuable, Rare, Inimitable, Organized) framework, 25 identified digital technology-based values are obtained by digitalization-based integrated lean-green approaches that may enable manufacturing firms to pursue SDGs via net-zero emissions. Four scenarios of digital technology adoption and integration level of lean and green manufacturing pathways are proposed, differentiated by the degree of radical/ incremental interests in innovation and sustainable advantage types. Third, the study highlights that the achievement of NZE by SDGs may be possible only by adopting digital technologies and high-level integration of lean and green.

Supervision or Collusion? Common Institutional Ownership and Corporate R&D Manipulation

R&D manipulation is a subjective manipulation of R&D accounting accounts by management that ignores the facts about R&D. It has a negative impact on the innovation performance of the company as well as the decision-making activities of external stakeholders. Hence, it is crucial to seek solutions to control this dishonest behaviour accurately. In recent years, the phenomenon of common institutional ownership has become increasingly widespread in the capital markets and has a significant impact on the strategic decisions of companies. There are currently two views on the corporate governance role of common institutional ownership: the synergistic governance effect and the collusive fraud effect. This paper selects Chinese A-share listed firms from 2009-2021 as a research sample to examine the impact of common institutional ownership on corporate R&D manipulation. The study found that common institutional ownership can inhibit corporate R&D manipulation. The higher the degree of their linkage and the greater the shareholding, the more pronounced the synergistic effect. The findings remained valid after testing using propensity score matching (PSM) and changing the sample period. Heterogeneity analysis shows that the inhibiting effect of common institutional ownership on corporate R&D manipulation is more pronounced in high-tech firms and firms which stay in the growth and maturity stage. This paper enriches the research on the economic consequences of common institutional ownership and provides management implications for implementing the innovation-driven strategy in China.

Smart city and green development: Empirical evidence from the perspective of green technological innovation

The smart city emerges as an innovation-driven strategy to achieve green development. While a large body of existing literature has assessed the environmental performance of the smart city, rarely does literature investigate the effect of smart city on green technological innovation, an essential part of and path to green development. This paper analyzes the impact of the smart city on green technological innovation through the Multi-period DID approach, using a dataset of Chinese prefecture-level cities from 2003 to 2016. The baseline results show that smart city can promote green technological innovation. The heterogeneous tests show that the smart city's green technological innovation effects are heterogeneous by geographic location, urban population size, economic development level, and information facilities infrastructure. Moreover, the paper explores the role of green technological innovation as an essential mechanism of the other aspects of green development. The mediating effect analyses show that smart city can promote urban industry structure upgrading and green efficiency through green technological innovation.

Exploring the New Educational Policies of Foreign Exchange and Cooperation in the Epidemic Era: A Policy Mapping Perspective

Abstract International education is an important part of our country’s cause of reform and opening. It provides strong manpower and intellectual support for our country to implement the innovation-driven strategy, to rejuvenate our country through science and education, and to powerful person with talent strategy. Thus, this study explores Current education policies for China’s foreign exchanges and cooperation during the epidemic period, in-depth understanding of China’s foreign exchanges and cooperation during the epidemic period, and the problems and strategies of implementing the foreign exchange policy during the pandemic. The conclusion and implication have been offered in the last.

The impact of digital empowerment on open innovation performance of enterprises from the perspective of SOR.

As China's digital transformation index continues to climb and market openness increases, the active implementation of open innovation embedded in digital innovation eco-networks is key to implementing sustainable innovation-driven strategies. The widespread use of digital technologies has broken through the traditional closed boundaries of enterprises and enhanced technology exchange, information communication and R&D collaboration with other innovation agents.However, many enterprises' digital empowerment efforts only stay at the level of digital technology, but do not rise to the level of corporate strategy. How to comprehensively promote the change of enterprise digital empowerment and help enterprises build a sustainable open innovation ecosystem needs further research. This article uses the structure equation model and the necessary condition analysis methods to combine the stimulus-organization-reaction (SOR) theory to analyze the conduction mechanism of digital authorization to open innovation from a cognitive perspective. (1) In the era of digital economy, digital empowerment emphasizes the initiative and adaptability of enterprises, and explores a sustainable digital road suitable for enterprises themselves; (2) Organizational emotional ability and organizational disordered atmosphere play a mediating role between digital empowerment and open innovation, but organizational emotional ability has a positive impact on open innovation, while organizational disordered atmosphere is the opposite. (3) Organizational identity positively regulates the relationship between the disordered atmosphere and open innovation. The development of digital technology has adapted deviations with traditional management models. Organizing the investment in digital construction should also pay attention to the digital training and digital thinking of organizational members.Organizations should provide organizational support through various channels, enhance employees' organizational commitments to create a relationship -shaped psychological contract, regularly carry out digital education and organizational culture, reduce the differential atmosphere between teams, enhance the team's awareness of cooperation and trust in the teamAnd overall consciousness.

Will R&D make investors more tolerant? Analysis based on the performance forecast of Chinese listed companies.

In the era of innovation dividends, whether investors, as the main participants in the capital market, can tolerate enterprise innovation activities is the key to whether the capital market can help enterprises innovate. This paper takes the listed companies of Shanghai and Shenzhen A-shares in China that disclosed quantitative performance forecasts from 2016 to 2021 as samples, obtains the market reaction of performance forecasts through the event study method and uses them as proxy variables of investors' short-term performance expectations, and uses multiple regression analysis to explore the impact of corporate R&D on investors' short-term performance expectations. The results are as follows: (1) corporate R&D investment significantly reduces investors' short-term performance expectations (that is, investors have a significant tolerance effect on enterprises with higher R&D investment); (2) the increase in the shareholding ratio of institutional investors weakens the tolerance effect; and (3) with the implementation of China's innovation-driven strategy, the tolerance effect of its capital market on enterprise R&D gradually increases, especially for high-tech companies, but has a low tolerance effect on state-owned companies' R&D risk. The results show that investors in China's capital market are not completely rational in their response to corporate R&D, and investors are willing to bear more short-term performance losses for high R&D investment, which is consistent with prospect theory.

Impact of Digital Transformation on Corporate Innovation--Empirical evidence from public companies

In the context of comprehensive penetration and cross-border integration of information technology, digital transformation of enterprises has become an important way to accelerate enterprise innovation and lead economic innovation growth, injecting new vitality into enterprises. Based on the textual information of annual reports of A-share listed companies from 2011-2021, this paper constructs a measure of digital transformation and systematically examines the impact of digital transformation on corporate innovation output and its impact mechanism. It is found that there is a significant positive relationship between digital transformation and innovation output of enterprises, and the finding is robust. The mechanism test indicates that corporate digital transformation promotes corporate innovation by increasing innovation inputs and promoting corporate learning effects. Further study found that the promotion effect of corporate digital transformation on corporate innovation was more pronounced in large enterprises, high-tech enterprises, stateowned enterprises, enterprises whose executives have master’s degrees, and enterprises in relatively close geographical proximity to the eastern region. This study not only enriches the empirical research on the consequences of digital transformation and the mechanism of enterprises using new dynamic energy to enhance transformation, but also has important implications for promoting the layout adjustment of national digital innovation-driven strategies.