Empirical research of relationship between innovation activities and performance of financial service industry

PDF(1 KB)

Science Research Management ›› 2014, Vol. 35 ›› Issue (8) : 1-7.

Liang Lingling, Chen Song, Cao Wenhong

Author information +

History +

Abstract

With growing competition, financial service industry pays more attention to innovation. However, excessive or insufficient innovation is not conducive to the healthy development of the financial sector. While existing research has not make it clear what is the relationship between innovation and performance in financial service industry. This paper, based on the survey data collected from 171 financial firms of Shanghai, Zhejiang, Beijing and Guangdong, empirically studied the correlation between innovation activities and performance in the financial sector. The results show that financial innovation activities can significantly improve performance and, enhancing innovation frequency plays more significant role than increasing innovation input. Financial firms' innovation activities can improve growth performance more significantly comparing technical performance. Also, improving technical performance can effectively promote growth performance.

Key words

financial service industry / innovation activities / firm performance

Cite this article

EndNote

Ris (Procite)

Bibtex

Download Citations

Liang Lingling, Chen Song, Cao Wenhong. Empirical research of relationship between innovation activities and performance of financial service industry[J]. Science Research Management. 2014, 35(8): 1-7

References

[1] World World B. World development indicators.The World Bank, 2012. [2] 哈克帕特里克T., 泽尼奥斯斯塔夫罗斯A., 徐诺金译. 金融机构的绩效:效率、创新和监管[M]. 中国金融出版社, 2005. [3] Hall B H, Mairesse J. Exploring the relationship between R&D and productivity in french manufacturing firms[J]. Journal of Econometrics, 1995(65):263-293. [4] Wakelin K. Productivity growth and R&D expenditure in UK manufacturing firms[J]. Research Policy, 2001(30):1079-1090. [5] 秦晓蕾, 杨东涛, 魏江茹. 制造企业创新战略、员工培训与企业绩效关系实证研究[J]. 管理学报, 2007,4(3):354-357. [6] 于成永, 施建军. 外部学习、技术创新与企业绩效: 机制和路径-基于苏浙沪等地制造企业的实证研究[J]. 经济管理, 2009,31(1):117-125. [7] 王君正, 吴贵生. 我国旅游企业创新对绩效影响的实证研究-以云南旅游业为例[J]. 科研管理, 2007(6):56-65. [8] 高强, 吴贵生. 创新影响B2C电子商务企业绩效的实证研究[J]. 科学学与科学技术管理, 2008(7):157-164. [9] 姚公安, 李琪. 企业绩效与创新资金投入的相关性-基于电子信息百强企业的研究[J]. 系统工程, 2009,27(7):107-111. [10] 严焰, 池仁勇. R&D投入、技术获取模式与企业创新绩效-基于浙江省高技术企业的实证[J]. 科研管理, 2013,34(5):48-55. [11] Gunday G, Ulusoy G, Kilic K, et al. Effects of innovation types on firm performance[J]. International Journal of Production Economics, 2011(133):662-676. [12] Hashi I, Stojcic N. The impact of innovation activities on firm performance using a multi-stage model: Evidence from the Community Innovation Survey 4[J]. Research Policy, 2013(42):353-366. [13] Chandler G N, Hanks S H. Market attractiveness, resource-based capabilities, venture strategies, and venture performance [J]. Journal of Business Venturing, 1994,9(4):331-349. [14] McGee J E, Dowling M J, Megginson W L. Cooperative strategy and new venture performance: The role of business strategy and management experience[J]. Strategic Management Journal, 1995,16:565-580. [15] Heunks F J. Innovation, creativity and success[J]. Small Business Economics, 1998,10(3):263-272. [16] 朱卫平, 伦蕊. 高新技术企业科技投入与绩效相关性的实证分析[J]. 科技管理研究, 2004(5):7-9. [17] Koellinger P. The relationship between technology, innovation, and firm performance-Empirical evidence from e-business in Europe[J]. Research Policy, 2008(37):1317-1328. [18] Wuyts S, Dutta S, Stremersch S. Portfolios of interfirm agreements in technology-intensive markets: Consequences forInnovation and profitability[J]. Journal of Marketing, 2004,68(2):88-100. [19] Rosenbusch N, Brinckmann J, Bausch A. Is innovation always beneficial? A meta-analysis of the relationship between innovation and performance in SMEs[J]. Journal of Business Venturing, 2011(26):441-457. [20] 海本禄, 聂鸣. 国际化、创新与企业绩效: 基于湖北省的实证研究[J]. 科研管理, 2012,33(4):1-9. [21] 龚明华, 雷电发. 金融创新、金融中介与金融市场:前沿理论综述[J]. 金融研究, 2005(10):185-191. [22] 李春涛, 宋敏. 中国制造业企业的创新活动:所有制和CEO激励的作用[J]. 经济研究, 2010(5):55-67. [23] Barney J. Firm resource and sustained competitive advantage[J]. Journal of Management, 1991,17(1):99-120. [24] Teece D J, Pisano G, Shuen A. Dynamic capabilities and strategic management[J]. Journal of Strategic Management, 1997,18(7):509-533. [25] 韦东政. 信息技术创新推动现代金融业发展[J]. 学术论坛, 2006(5):107-110. [26] 李文鹣, 梅姝娥, 谢刚. 以竞争优势为目标的企业知识产权管理[J]. 科技管理研究, 2008(3):224-227. [27] Ernst H. Patent applications and subsequent changes of performance: evidence from time-series cross-section analyses on the firm level[J]. Research Policy, 2001,30(1):143-157. [28] Carolan M S. Making patents and intellectual property work: The asymmetrical "harmonization" of TRIPS[J]. Organization & Environment, 2008,21(3):295-310. [29] 朱国军, 杨晨. 基于战略资源论的企业知识产权资产管理内涵探析[J]. 科学学与科学技术管理, 2006(11):161-165. [30] Markman G D, Espina M I, Phan P H. Patents as surrogates for inimitable and non-substitutable resources[J]. Journal of Management, 2004,30(4):529-544. [31] Dess G, Beard D. Dimensions of organizational task environments[J]. Administrative Science Quarterly, 1984,29(1):52-73. [32] Covin J G, Slevin D P. Corporate entrepreneurship in high and low technology industries:A comparison of strategic variables, strategy pattems and performance in global markets[J]. Joumal of Euro-Marketing, 1994:99-127. [33] 陈劲, 陈钰芬. 开放创新体系与企业技术创新资源配置[J]. 科研管理, 2006(3):1-8. [34] 吴延兵. 市场结构、产权结构与R&D-中国制造业的实证分析[J]. 统计研究, 2007(5):67-75. [35] Prasad B, Harker P T. Examining the contribution of information technology toward productivity and profitability in U.S. Retail banking[R].The Wharton Financial Institutions Center Working Papers, 1997. [36] Hagedoorn J, Duysters G. The effect of mergers and acquisitions on the technological performance of companies in a high-tech environment[J]. Technology Analysis & Strategic Management, 2002,14(1):67-85. [37] Cattani G. Preadaptation, firm heterogeneity, and technological performance: A study on the evolutionof fiber optics, 1970-1995[J]. Organization Science, 2005,16(6):563-580. [38] Hagedoorn J, Cloodt M. Measuring innovative performance: is there an advantage in using multiple indicators?[J]. Research Policy, 2003,32:1365-1379.