双元创新与企业可持续发展:短期财务绩效与长期竞争优势的中介作用

基于创新驱动视角，探究双元创新对企业可持续发展的影响机制，并检验短期财务绩效和长期竞争优势在其中的中介作用。通过对196家高新技术企业调查问卷的统计分析发现，双元创新会对企业可持续发展产生正向影响，但两种创新的影响路径完全不同；短期财务绩效和长期竞争优势作为共同中介变量，在利用式创新和企业可持续发展之间起部分中介作用；长期竞争优势作为中介变量，在探索式创新和企业可持续发展之间起完全中介作用。对企业可持续发展而言，利用式创新的总效应大于探索式创新的间接效应。研究结论具有重要的理论意义和实际应用价值。

Dual Innovation and Corporate Sustainable Development: the Mediating Role of Short-Term Financial Performance and Long-Term Competitive Advantage

Based on the perspective of "innovation driven", this paper explores the impact mechanism of dual innovation on sustainable development of enterprises, and examines the intermediary role of short-term financial performance and long-term competitive advantage. Through the statistical analysis of 196 high-tech enterprises'questionnaires, it is found that the implementation of dual innovation will have a positive impact on the sustainable development of enterprises, but the impact paths of the two innovations are totally different. Short-term financial performance and long-term competitive advantage are the common intermediary variables between exploitative innovation and sustainable development of enterprises. As a mediating variable, long-term competitive advantage plays a complete mediating role between exploratory innovation and sustainable development of enterprises; for sustainable development of enterprises, the total effect of exploitative innovation is greater than the indirect effect of exploratory innovation. The research hypothesis and conclusions put forward and tested have important theoretical significance and application value.