Why are the industrial firms of emerging economies short-termistic in innovation? Industry-level evidence from Chinese manufacturing

作者：Guo, Bin^*; Chen, Xiaoling

来源：International Journal of Technology Management, 2012, 59(3-4): 273-299.

DOI：10.1504/IJTM.2012.047247

• short-termism
• foreign direct investment
• FDI
• knowledge acquisition
• Chinese manufacturing industries
• knowledge creation

We examine the influences of intra-industry and inter-industry foreign direct investment (FDI) presence, financial constraints and technological uncertainty on the short-termism in innovation by using an industry-level panel data of Chinese large- and medium-size manufacturing enterprises during the period of 2000 to 2009. Innovation behaviour is conceptualised as a process of knowledge acquisition and knowledge creation from a learning perspective. The empirical results show that intra-industry and inter-industry FDI presence have strong influences on firms' short-termism in both knowledge acquisition and knowledge creation, while financial constraints and technological uncertainty only affect firms' short-termism in knowledge acquisition. Another interesting finding is that intra-industry FDI presence is negatively related to firms' short-termism in knowledge acquisition and positively related to firms' short-termism in knowledge creation.

• 出版日期2012
• 单位浙江大学