Artikel
Re-innovation from failure, institutional environmental differences, and firm performance: Evidence from China
Due to an anti-failure bias, theoretical and practical studies have not focused much on the problem of innovation failure. The literature does not include studies on how the effect of re-innovation input on firm performance can still be explained by existing theories, especially in the case of previous innovation failures. To explore the intrinsic relationship between the re-innovation from failure and firm performance, as well as the influencing mechanism of the institutional environment differences on a firm's re-innovation activities, using the data of the Listed Companies in China's pharmaceutical manufacturing industry from 2008 to 2014 and a multiple regression model, the relationships between the re-innovation from failure, institutional environment differences, and firm performance were analyzed from 3 aspects: government intervention, financial development, and legal environment. The results show that the re-innovation input from failure has a significant positive impact on firm performance. The level of government intervention and the level of financial development play significant negative and positive moderating roles in the relationship between the re-innovation input and firm performance, respectively, and the above-mentioned effects are more prominent in eastern China. Moreover, with the improvement of the marketization of the financial industry, the beneficial effect of the re-innovation input from failure on firm performance in state-owned firms will be further strengthened. However, the moderating effect of the legal environment is not obvious.
- Language
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Englisch
- Bibliographic citation
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Journal: Amfiteatru Economic Journal ; ISSN: 2247-9104 ; Volume: 22 ; Year: 2020 ; Issue: 53 ; Pages: 197-219
- Classification
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Wirtschaft
New Firms; Startups
Management of Technological Innovation and R&D
Technological Change: Choices and Consequences; Diffusion Processes
Technological Change: Government Policy
- Subject
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re-innovation from failure
institutional environment
firm performance
moderating effect
- Event
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Geistige Schöpfung
- (who)
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Xiong, Zhuang
Wang, Pengju
Zhao, Yu
- Event
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Veröffentlichung
- (who)
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The Bucharest University of Economic Studies
- (where)
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Bucharest
- (when)
-
2020
- DOI
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doi:10.24818/EA/2020/53/197
- Handle
- Last update
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10.03.2025, 11:43 AM CET
Data provider
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Artikel
Associated
- Xiong, Zhuang
- Wang, Pengju
- Zhao, Yu
- The Bucharest University of Economic Studies
Time of origin
- 2020
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