高技术企业多元化战略对创新持续性的影响——动态能力的调节作用

基于资源基础理论和持续创新内生机制，利用435家高技术企业2010—2018年面板数据，对多元化战略对高技术企业创新持续性的影响进行探究。结果表明，产品多元化与创新持续性呈正U型关系，技术多元化对创新持续性具有正向促进作用，产品多元化与技术多元化协同效应对创新持续性具有负向影响；动态能力强化了产品多元化与创新持续性之间的正U型关系，并正向调节技术多元化与创新持续性之间的关系。在动态能力调节作用下，高技术企业产品多元化与技术多元化协同效应对创新持续性具有正向影响。

The Impact of High-tech Enterprise Diversification Strategy on the Persistence of Innovation

Based on the resource-based theory and the endogenous mechanism of persistent innovation, this paper uses the panel data of 435 high-tech companies from 2010 to 2018 to explore the impact of diversification strategies on the high-tech companies' persistence of innovation. The research results show that product diversification and innovation persistence have a positive u-shaped relationship. Technology diversification has a positive promotion effect on innovation persistence, and the interaction effect of product diversification and technology diversification has a negative impact on innovation persistence. Dynamics capability positively regulates the u-shaped relationship between product diversification and innovation persistence and the relationship between technological diversification and innovation persistence; under the regulation of dynamic capabilities, the synergy between product diversification and technological diversification of high-tech companies have a positive impact on the persistence of innovation.