A comparative study of the effects of different factors on firm technological innovation performance in different high-tech industries

Abstract

Purpose

This paper aims to examine the different impacts of six variables on firm technological innovation performance in different high-tech industries in China. Through a comparative analysis of data about growth enterprises market board (GEM)-listed companies, this study attempts to get some conclusions, to help firms in different high-tech industries use resources more rationally and to improve technological innovation performance more effectively.

Design/methodology/approach

This paper constructs semi-parametric models based on the relevant data of GEM-listed companies during 2010 to 2015 for different high-tech industries. These models can ensure that the influencing factors of firm technological innovation performance are no longer restricted to a particular aspect but can provide a comprehensive comparative analysis of the effects of factors on firm technological innovation performance in different high-tech industries.

Findings

The empirical results show that R&D expenditures have a significant positive impact on firm technological innovation performance in most high-tech industries, but not in electronic and communication equipment manufacturing industry; R&D personnel investment and government subsidies have significant positive impacts on firm technological innovation performance in knowledge-oriented industries; technology diversity has a significant positive impact on firm technological innovation performance in technology-oriented industries; the proportion of exports shows an inverted U-shaped relationship with firm technological innovation performance in electronic and communication equipment manufacturing industry, while firm size shows an inverted U-shaped relationship with firm technological innovation performance in general equipment manufacturing industry; and the effect of semi-parametric model fit is superior to the general parameters model.

Originality/value

Drawing on the resource dependence perspective, this paper is the first to consider a comprehensive treatment of differential effects of internal resources (R&D personnel, R&D expenditure), external resources (government subsides) and firm characteristics (firm size, export ratio) on firm technological innovation performance in different high-tech industries in an emerging country, in particular in contrast to previous studies that have focused on a single industry or taken the type of industry as a control variable. In addition, most studies about the determinants of firm innovation performance are based on survey questionnaires, which may introduce large subjective errors. Setting the relationship between variables in advance may also introduce fit error when using a general-parameter model. Semi-parametric regression which is used in this paper is able to prevent this shortcoming effectively. When constructing a regression model, this can be exempted from the formal constraints, thus estimating data more accurately and ensuring superior fit.

Citation

Zhu, J., Wang, Y. and Wang, C. (2019), "A comparative study of the effects of different factors on firm technological innovation performance in different high-tech industries", Chinese Management Studies, Vol. 13 No. 1, pp. 2-25. https://doi.org/10.1108/CMS-10-2017-0287