期刊
JOURNAL OF BUSINESS RESEARCH
卷 71, 期 -, 页码 47-54出版社
ELSEVIER SCIENCE INC
DOI: 10.1016/j.jbusres.2016.10.018
关键词
R&D expenditures; Ultimate ownership; Voting rights; Future performance; Fuzzy-set Qualitative Comparative Analysis
类别
资金
- National Social Science Fund of China [11CGL062]
- Fundamental Research Funds for the Central Universities [sk2016011]
This study examines the relationship between R&D expenditures and future performance, as well as the moderating effects of ultimate ownership on the relationship. Using a sample of 772 Chinese listed firms from 2007 to 2012, this study shows that R&D expenditures are positively related to firms' future performance and that the R&D expenditures of SOEs lead to better future performance than those of non-SOEs. In addition, the results also reveal that voting rights of ultimate owners positively moderate the R&D-performance relationship. We also adopt fuzzy-set Qualitative Comparative Analysis (fsQCA) to reveal the interdependent and interrelated nature of the explanatory predictors of future performance. The results of fsQCA further indicate that large-sized SOEs with concentrated ownership could attain higher future performance on R&D investments if there are more patent applications and capital and operating spending. These findings complement the R&D performance literature by simultaneously considering the combinatory effect of ultimate ownership and control ability. (C) 2016 Elsevier Inc. All rights reserved.
作者
我是这篇论文的作者
点击您的名字以认领此论文并将其添加到您的个人资料中。
推荐
暂无数据