公司创业投资对企业技术创新的影响研究——基于组织间学习的视角

发布时间：2018-02-19 18:30

本文关键词： 公司创业投资企业技术创新组织间学习风险投资声誉行业不确定性　出处：《研究与发展管理》2017年05期 　论文类型：期刊论文

【摘要】：基于组织间学习的视角,以国内新兴的"PE+上市公司"公司创业投资(CVC)模式为研究对象,考察了CVC项目投资对企业技术创新的影响,以及风险投资声誉、行业不确定性和投资企业参与程度对二者关系的调节作用,并进一步检验了在不同的CVC项目目标下CVC项目投资对企业技术创新影响的差异.以独特的有风险投资参与的CVC项目投资数据为研究样本,本文研究发现:CVC项目投资与企业技术创新之间存在倒U形关系.结合声誉理论,风险投资声誉会对二者之间的关系产生显著的正向调节作用.行业不确定性的增加会提高投资企业利用CVC活动进行组织间学习的积极效用.投资企业在CVC项目中的参与程度越深入,越有利于促进投资企业的技术创新.此外,在不同CVC项目目标下,二者之间的关系存在显著的差异.
[Abstract]:Based on the perspective of inter-organization learning, this paper investigates the impact of CVC project investment on enterprise technological innovation and the reputation of venture capital, taking the emerging "PE listed company" venture capital model as the research object. The regulating effect of industry uncertainty and the degree of investment enterprise participation on the relationship between the two, Furthermore, the differences of the impact of CVC project investment on enterprise technological innovation under different CVC project objectives are examined. Taking the unique venture capital investment data of CVC project as the research sample, In this paper, we find that there is an inverted U shape relationship between the investment of the CVC project and the technological innovation of the enterprise. The reputation of venture capital has a significant positive effect on the relationship between the two. The increase of industry uncertainty will enhance the positive effect of investment enterprises to use CVC activities for inter-organizational learning. Investment enterprises in the CVC project. The greater the level of participation, In addition, under different CVC project objectives, there are significant differences between them.
【作者单位】：哈尔滨工业大学深圳研究生院;
【基金】：国家自然科学基金青年基金资助项目“上市公司环境绩效与公司价值和风险关系——基于金融投资角度的理论和实证分析”(71103050) 深圳市软科学资助项目“深圳市“十三五”优势传统产业科技创新发展战略研究”(RKX201503240950316)
【分类号】：F273.1;F275

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