Journal article
Differences in the impact of R&D intensity and R&D internationalization on firm performance – Mediating role of innovation performance
Journal of Business Research, Vol.131, pp.81-91
2021
Abstract
This paper investigates the mediating role of innovation performance in the effects of R&D intensity and R&D internationalization on firm performance, using 1540 firm-year observations from a balanced panel of 385 privately-owned firms listed on the Shanghai and Shenzhen stock exchanges. Results show a negative effect of R&D intensity on short-term (profitability) and positive effect on long-term (firm value) financial performance but no significant effect on export (sales) performance. In contrast, R&D internationalization has a positive effect on export performance but no significant effect on short- or long-term financial performance. Moreover, innovation performance (number of patents) partially mediates the impact of R&D intensity and R&D internationalization on firm performance and these effects vary based on firm age and size. Besides extending current literature on R&D investments, these results have useful implications for firms especially those from emerging markets with international R&D operations or those aiming to internationalize their R&D activities.
Details
- Title
- Differences in the impact of R&D intensity and R&D internationalization on firm performance – Mediating role of innovation performance
- Authors
- T.Y. Leung (Author) - Open University of Hong KongPiyush Sharma (Corresponding Author) - Curtin University
- Publication details
- Journal of Business Research, Vol.131, pp.81-91
- Publisher
- Elsevier Inc
- DOI
- 10.1016/j.jbusres.2021.03.060
- ISSN
- 1873-7978
- Organisation Unit
- School of Business and Creative Industries
- Language
- English
- Record Identifier
- 99708571302621
- Output Type
- Journal article
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