A research on acting paths of cooperative innovation risk on innovation performance of firms

WU Wei-Hong; ZHAO Kun; ZHANG Ai-Mei

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Science Research Management ›› 2021, Vol. 42 ›› Issue (5) : 124-132.

A research on acting paths of cooperative innovation risk on innovation performance of firms

Wu Weihong, Zhao Kun, Zhang Aimei

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Abstract

With the continuous development of economic globalization, our country′s economy has become more and more deeply integrated into the world economic system. It is urgent for enterprises to seek more technological innovations resources and built core competitiveness to meet the fierce competition in the international market. In this context, the important role of collaborative innovation in the survival and sustainable development of enterprises has become more and more prominent. However, because of the complexity, multi-agent and dynamic characteristics of the collaborative innovation, there might be various risk factors arise in the process of collaborative innovation, which is going to directly or indirectly affect the effect of collaborative innovation and eventually in turn affects enterprises innovation performance and the exerting of competitive advantage.
On the basis of existing research, from the perspective of the entire chain of enterprise collaborative innovation, we build a three-stage, double-faced risk research framework of "input-process-output" which is based on the two levels of innovation resources and cooperative entities. Then, we identify the 6 types of enterprise collaborative innovation risks through the above risk research framework, which including the innovation factor input risk and moral hazard that are caused by the insufficient investment or information asymmetry between the partners at the initial stage of cooperation, resource sharing risks and organizational synergy risks arising from insufficient innovation resource sharing and unsmooth communication and collaboration among innovative entities at the process stage , and the market risk and benefit distribution risk caused by the mismatch between the product and the market in the final output stage and the interest disputes between subjects. At the same time, we further introduce synergy effect as an intermediary variable and dynamic capabilities as a moderating variable to deeply study the relationship between enterprise collaborative innovation risk and innovation performance. Through a questionnaire survey, we take 226 high-tech listed companies as the research object, and use SEM model and hierarchical regression analysis to conduct empirical research.
The results of the study are as follows: (1) The six types of collaborative innovation risks all have a significant negative impact on innovation performance, and different risks have different degrees of impact on innovation performance. Organizational collaborative risk has shown the most obvious negative effect, followed by benefit distribution risks, and moral hazard is the smallest. (2) Synergy effect has a significant intermediary effect between innovation factor input risk, moral hazard, resource sharing risk, organizational synergy risk, benefit distribution risk and innovation performance, but there is no obviously intermediary effect between market risk and innovation performance; (3) Dynamic capabilities significantly regulate the relationship between innovation factor input risk, moral hazard, resource sharing risk, organizational synergy risk, market risk and innovation performance, but there is no regulatory effect on the relationship between benefit distribution risk and innovation performance.
In response to the above-mentioned research results, from the aspects of enhancing the awareness of risk prevention and control and promoting dynamic capability formation, we put forward suggestions to provide theoretical support and practical experience for the collaborative innovation management of enterprises.

Key words

enterprise collaborative innovation risk / synergistic effect / dynamic ability / innovation performance

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Wu Weihong, Zhao Kun, Zhang Aimei. A research on acting paths of cooperative innovation risk on innovation performance of firms[J]. Science Research Management. 2021, 42(5): 124-132

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