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The Impact of Innovation Investment Volatility on Technological Innovation of Enterprises in Different Life Cycles

Author

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  • Miaomiao Li
  • Zhaoxing Hao
  • Meng Luan
  • Haibo Li
  • Guikun Cao

Abstract

Empirical findings from the impact of innovation investment volatility on enterprise technological innovation are mixed. Based on the punctuated equilibrium theory, this study explores the impact of innovation investment volatility on enterprise technological innovation in different life cycles and whether innovation subsidy has expected effects on enterprises’ technological innovation. By using the 205 Chinese listed enterprises in strategic emerging industries from 2010 to 2019 as the research sample, the results show that the innovation investment volatility has a positive impact on technological innovation of enterprise in the growing stage, while it has no significant effect on enterprise technological innovation in the mature and declining stages. In addition, the negative moderating effect of innovation subsidy on the relationship between innovation investment volatility and technological innovation is the most significant for enterprises in the growing stage, weakly significant for enterprises in the mature stage, and insignificant for enterprises in the declining stage.

Suggested Citation

  • Miaomiao Li & Zhaoxing Hao & Meng Luan & Haibo Li & Guikun Cao, 2021. "The Impact of Innovation Investment Volatility on Technological Innovation of Enterprises in Different Life Cycles," Mathematical Problems in Engineering, Hindawi, vol. 2021, pages 1-12, December.
    • Handle: RePEc:hin:jnlmpe:2442071
    DOI: 10.1155/2021/2442071
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    Cited by:

    1. Lin, Boqiang & Xie, Yongjing, 2023. "Positive or negative? R&D subsidies and green technology innovation: Evidence from China's renewable energy industry," Renewable Energy, Elsevier, vol. 213(C), pages 148-156.
    2. Xiaolan Wu & Shengyuan Wang, 2022. "Assessment of Enterprise Life Cycle Based on Two-Stage Logistic Model: Exemplified by China’s Automobile Manufacturing Enterprises," Sustainability, MDPI, vol. 14(21), pages 1-20, November.
    3. Junhua Chen & Qiaochu Li & Peng Zhang & Xinyi Wang, 2024. "Does Technological Innovation Efficiency Improve the Growth of New Energy Enterprises? Evidence from Listed Companies in China," Sustainability, MDPI, vol. 16(4), pages 1-28, February.

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