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Innovation in Business Groups: Evidence from China

Author

Listed:
  • Huan Dou
  • Antai Li
  • Yonggen Luo

Abstract

This paper examines the innovation in companies within business groups. Compared with stand-alone companies, companies within business groups invest more in innovation activities. Further analysis shows that companies within business groups are supported by stronger cash flow from their parent companies and under competition pressure from peer firms within business groups. The effect is more pronounced in the firms in the high-tech industry and competitive regions. The results are consistent with various endogenous and robustness tests.

Suggested Citation

  • Huan Dou & Antai Li & Yonggen Luo, 2021. "Innovation in Business Groups: Evidence from China," Emerging Markets Finance and Trade, Taylor & Francis Journals, vol. 57(9), pages 2503-2513, July.
    • Handle: RePEc:mes:emfitr:v:57:y:2021:i:9:p:2503-2513
    DOI: 10.1080/1540496X.2020.1859365
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    Cited by:

    1. Jinhuan Tian & Yan Dong & Gianluca Vagnani & Peizhong Liu, 2023. "Green innovation and the stock market value of heavily polluting firms: The role of environmental compliance costs and technological collaboration," Business Strategy and the Environment, Wiley Blackwell, vol. 32(7), pages 4938-4953, November.
    2. Nadia Zahoor & Yong Kyu Lew, 2022. "Sustaining superior international performance: Strategic orientations and dynamic capability of environmentally concerned small‐ and medium‐sized enterprises," Business Strategy and the Environment, Wiley Blackwell, vol. 31(3), pages 1002-1017, March.
    3. Maryna Brychko & Yuriy Bilan & Serhiy Lyeonov & Dalia Streimikiene, 2023. "Do changes in the business environment and sustainable development really matter for enhancing enterprise development?," Sustainable Development, John Wiley & Sons, Ltd., vol. 31(2), pages 587-599, April.
    4. Rumeng Cui & Zhong Ma & Longfeng Wang, 2022. "Allocation of Decision Rights and CSR Disclosure: Evidence from Listed Business Groups in China," Sustainability, MDPI, vol. 14(7), pages 1-20, March.
    5. Sheikh Farhan Ashraf & Cai Li & Muhammad Umair Wattoo & Majid Murad & Babak Mahmood, 2024. "Green horizons: Unleashing green innovation through green business strategies and competencies," Business Strategy and the Environment, Wiley Blackwell, vol. 33(5), pages 4233-4251, July.
    6. Ivo Hristov & Andrea Appolloni, 2022. "Stakeholders' engagement in the business strategy as a key driver to increase companies' performance: Evidence from managerial and stakeholders' practices," Business Strategy and the Environment, Wiley Blackwell, vol. 31(4), pages 1488-1503, May.
    7. Yue Cui & Yunmeng Cao & Yijun Ji & I‐Shin Chang & Jing Wu, 2022. "Determinant factors and business strategy in a sustainable business model: An explorative analysis for the promotion of solid waste recycling technologies," Business Strategy and the Environment, Wiley Blackwell, vol. 31(5), pages 2533-2545, July.
    8. Zheng, Li & Ma, Pengcheng & Hong, Jacky Fok Loi, 2022. "Internal embeddedness of business group affiliates and innovation performance: Evidence from China," Technovation, Elsevier, vol. 116(C).
    9. Xinze Li & Luojia Wang & Kerui Du, 2023. "How do environmental regulations influence resource misallocation in China? The role of investment flows," Business Strategy and the Environment, Wiley Blackwell, vol. 32(1), pages 538-550, January.
    10. Bablu Kumar Dhar & Iman Harymawan & Sabrina Maria Sarkar, 2022. "Impact of corporate social responsibility on financial expert CEOs' turnover in heavily polluting companies in Bangladesh," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 29(3), pages 701-711, May.
    11. Sascha Henninger & Martin Schneider & Arne Leitte, 2021. "Smart Sirens—Civil Protection in Rural Areas," Sustainability, MDPI, vol. 14(1), pages 1-10, December.

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