Home purchase restriction,real estate investment,and corporate innovation

It is ubiquitous for non-real estate firms to conduct real estate business in China. Home purchase restriction (HPR) affects corporate innovation by dampening the real estate investment of non-real estate firms. The extant literature has examined the impact of HPR on corporate innovation, but it has not focused on the expectation of HPR and the endogeneity problem. Employing a dataset of 1830 listed non-real estate firms over the period 2009–2016, this research explores the expectation of HPR on corporate innovation based on the motivations for real estate investment in non-real estate firms. We demonstrate that HPR facilitates the enhancement of research and development (R&D) investment in non-real estate listed firms by hindering real estate investment, particularly for non-high-tech firms. The effects of HPR arrive at the crest in the third implementation year and remain steady thereafter. The real estate investment of non-real estate firms rebounds and the R&D investment declines along with the cancellation of HPR. Tackling the selection bias and endogeneity problems, the baseline results are also robust. Hence, HPR should serve as a long-term vehicle to improving corporate innovation, in addition to preventing housing speculation.     

Unpacking the effect of strategic ambidexterity on performance: A cross-country comparison of MMNEs developing product-service innovation

This study tests whether strategic ambidexterity improves Product-service innovation (PSI) outcomes for manufacturing multinational enterprises (MMNEs). It also tests successful pathways to develop PSI properly by organizing exploitation and exploration activities. Data from a survey of 338 MMNEs are analysed through Structural Equations Modelling. The sample contains firms from five world regions, including emerging economies. This approach enables contrast to determine cross-country heterogeneity in PSI outcomes. The results show that, to maximise firm performance, PSI must be developed through a sequential Exploitation-Exploration pathway. Although this optimal sequence is consistent across all world regions (except Japan), noticeable contextual differences emerge in the relative importance of exploration and exploitation to firm performance. Our findings show that exploitation (i.e., cost efficiency through PSI design) and exploration (i.e., PSI R&D) capabilities are equally important in emerging economies.     

Antecedents of the propensity to learn management practices and their impacts on firm outcomes in emerging markets: A Bayesian Model Averaging approach

This article explores the factors that motivate firms to learn new management practices. The hypotheses are empirically tested using a representative sample of 3676 small, medium and large firms from four South Asian countries and across all main sectors of economic activity. Given that we know little about the antecedents of the propensity to learn management practices in emerging markets, the study employs Bayesian Model Averaging approach to overcome the potential issue of model uncertainty. The results reveal that market competition, resource allocation towards internal and external R&D, good quality mobile network coverage and the use of external certified financial auditors have all positive and significant effects on the propensity to learn management practices. The results also suggest that private intellectual property rights protection in the context of inefficient legal systems can deter firms from learning, perhaps in fear of legal ramifications. Finally, the study shows that firms with a higher propensity of learning management practices are more likely to become profitable while exhibiting higher levels of both potential and actual innovation.     

How and when does co-production facilitate eco-innovation in international buyer-supplier relationships? The role of environmental innovation ambidexterity and institutional pressures

Eco-innovation is an important element of a firm's environmental sustainability strategy and provides both competitive and environmental benefits, resulting in a win-win solution. Although previous studies have examined the influence of co-production on innovation, little is known about how and when co-production affects eco-innovation in the context of international buyer-seller relationships. Building upon the resource-based view, the dynamic capability perspective, and institutional theory, this study develops a conceptual model focusing on the effects of co-production on eco-innovation, the mediating effects of environmental innovation ambidexterity, and the moderating role of institutional pressures. The research was carried out using a survey-based quantitative study and the proposed hypotheses were tested using the hierarchical regression analysis. The results of a survey of 124 OEM suppliers in Taiwan show that co-production has a positive effect on environmental innovation ambidexterity. Our findings also show that the direct relationship between co-production and environmental innovation ambidexterity is stronger when institutional pressures are high as opposed to when they are low and that environmental innovation ambidexterity mediates the relationship between co-production and eco-innovation. This study contributes to a theoretical understanding of why some firms develop more environmental innovation ambidexterity than others, by analyzing co-production as a predictor and institutional pressures as a moderator. We discuss the theoretical and managerial implications of our findings.     

政府补贴、国际知识产权保护与企业创新——来自战略性新兴产业上市公司的证据

政府补贴对企业创新的影响存在争议,在美国重点打击中国战略性新兴产业的背景下,补贴这一产业政策的有效性再次引起热议。本文以2012-2017年沪深A股战略性新兴产业上市公司为样本,研究在国际知识产权保护加强的背景下政府补贴对战略性新兴产业创新绩效的影响。研究发现:中国政府实施的补贴政策有利于促进战略性新兴产业创新,但国际知识产权保护加强约束了中国政府补贴的规模和空间,从而抑制了补贴政策对战略性新兴产业创新的激励作用;此外,基于企业和产业异质性视角,国际知识产权保护的加强主要抑制了补贴对国有企业、内资企业和新材料产业创新的促进作用。进一步完善补贴政策和国内的知识产权保护制度,有利于提升中国在构建国际经济新秩序中的话语权。     

环境规制的环境-经济效应研究

本文选取中国30个省级行政区(西藏和港澳台除外)2008-2016年数据分析环境规制影响经济发展的区域环境效率门槛,利用门槛回归模型研究区域环境效率变化在环境规制影响经济发展过程中的传导效应差异,并对其进行稳健性分析。研究发现:环境规制和区域环境效率的交叉项与经济发展之间呈现出显著的“U”型关系;在高环境效率地区,受环境规制影响时,区域环境效率提升可以更快地消除环境规制对经济发展带来的负面影响;在经济发达地区,受环境规制影响,区域环境效率提升可以在更大程度上强化环境规制对经济发展的积极作用。因此要制定适当的环境规制策略,加大研发投入,提高区域技术创新能力,促进生产工艺和技术改进,在环境规制压力下实现环境效率提升和经济发展的“共赢”局面。     

L'innovation dans les services à forte intensité de connaissances (SFIC)†

This article examines the determinants of innovation in knowledge intensive business services (KIBS), generally hypothesizing that differences in the effect of the determinants of innovation depend on the type of innovation developed within KIBS. The study results are based on estimates of two econometric models using data from a survey of 392 firms in the province of Ontario, Canada.     

我国自贸试验区发展态势、制约因素与未来展望

面对世界经贸关系的变化和全球治理秩序的重构,以及国内经济形势对改革开放的新要求,我国自2013年以来已经设立18个自贸试验区。作为改革开放的"制度试验田",自贸试验区在制度创新和试点经验的推广方面取得了良好效果,各项经济指标表现优异,但也存在发展引领效果不明显、服务业对外开放程度不高、自主改革创新权限不够高等问题。推动自贸试验区发展,应着力提高自贸试验区改革创新的自主权限,加快服务业对外开放,协同推进汇率、利率市场化改革与资本账户开放,构建全面有效的风险管理体系,发挥平台支撑和关键节点作用,将自贸试验区战略与国家区域战略和"一带一路"倡议相结合。     

The effect of environmental regulations,top management commitment,and organizational learning on green product innovation: Evidence from automobile industry

This paper proposes and empirically examines a model to investigate the effect of environmental regulations, top management commitment (TMCO) and organizational learning toward green product innovation (GPI). The proposed theoretical model, grounded in dynamic capabilities view (DCV) and upper echelons theory, is analyzed by Partial least squares (PLS) method using the data from Indian automotive manufacturing firms. The findings indicate the importance of TMCO and organizational learning for implementing GPI (in response to regulations), and achieve desired performance. Further, organizational learning fully mediates between commitment of top management and GPI. The findings can be useful for managers in automotive manufacturing firms who are interested toward implementing GPI. The paper contributes to green innovation literature by empirically examining the role of TMCO and organizational learning for GPI.     

Innovation and the circular economy: A systematic literature review

The circular economy emerged as an alternative model to the linear system, which now appears to be reaching its physical limitations. To transition to a circular economy, companies must not only be aware of but also engage in more sustainable practices. For such a transition, companies must rethink and innovate their business models and the ways they propose value to their clients while simultaneously considering environmental and social facets. This systematic literature review sought to map out from the company perspective the key topics interrelated with innovation and the circular economy, describing the internal and external factors to consider in such transition processes. Key lines of research were identified, and suggestions for future research and for facilitating movement toward a circular economy are provided. This work contributes to deepening the literature by identifying the priority areas concerning the circular economy and encouraging future research that meets international standards of excellence.