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.
- Sprache
-
Englisch
- Erschienen in
-
Journal: Amfiteatru Economic Journal ; ISSN: 2247-9104 ; Volume: 22 ; Year: 2020 ; Issue: 53 ; Pages: 197-219
- Klassifikation
-
Wirtschaft
New Firms; Startups
Management of Technological Innovation and R&D
Technological Change: Choices and Consequences; Diffusion Processes
Technological Change: Government Policy
- Thema
-
re-innovation from failure
institutional environment
firm performance
moderating effect
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Xiong, Zhuang
Wang, Pengju
Zhao, Yu
- Ereignis
-
Veröffentlichung
- (wer)
-
The Bucharest University of Economic Studies
- (wo)
-
Bucharest
- (wann)
-
2020
- DOI
-
doi:10.24818/EA/2020/53/197
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:43 MEZ
Datenpartner
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Objekttyp
- Artikel
Beteiligte
- Xiong, Zhuang
- Wang, Pengju
- Zhao, Yu
- The Bucharest University of Economic Studies
Entstanden
- 2020
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