Original scientific paper
https://doi.org/10.1080/1331677X.2021.2004185
How do firms in strategic emerging industries influence their peers’ innovation strategies?
Die Hu
Zhiwei Wang
Huifang Hu
Abstract
Drawing on signaling theory, peer effect, and the awarenessmotivation-capability (AMC) framework, we examine the role of
strategic emerging industries (SEI) firms in raising the awareness
and motivation of non-SEI firms’ R&D activities, including gaining
government R&D subsidies and adopting internal R&D investment, while considering the moderate effect of non-SEI firms’ capability factor. Based on the data of Chinese listed firms from SEI
and non-SEI, the empirical results reveal that (a) the number of
SEI firms funded by government R&D has an inverted U-shape
relationship with the amount that non-SEI firms gain from government R&D subsidies, and has a positive relationship with the
investment of non-SEI firms on internal R&D. (b) The financial performance of SEI firms funded by government R&D motivates nonSEI firms to gain government R&D subsidies and invest in internal
R&D. (c) These relationships are strengthened by the relative scale
of the non-SEI firms.
Keywords
Strategic emerging industries; signal theory; peer effect; AMC framework; government R&D subsidies; internal R&D investment
Hrčak ID:
302620
URI
Publication date:
31.3.2023.
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