The Impact of Cooperative Innovation on Enterprise Resilience:Evidence from Joint Patent Data of Listed Enterprises
Enhancing enterprise resilience is important for improving the resilience of the industrial chain and supply chain.In the era of digital technology,with the shortening of the technological innovation cycle of enterprises and the acceleration of product iteration,it is difficult for a single enterprise to adapt to the ever-changing product market through its own innovation,and collaborative innovation brings a new opportunity to enhance the resilience of enterprises.However,no research has yet provided a clear answer as to whether collaborative innovation can enhance enterprise resilience.Based on the joint patent data of Chinese A-share listed enterprises from 2010 to 2019,this paper empirically examines the impact of cooperative innovation on enterprise resilience and its mechanism using a two-way fixed effects model.It finds that cooperative innovation enhances enterprise resilience.After robustness tests such as replacing the measurement of explanatory and explained variables,replacing the clustering standard errors at different levels,excluding specific samples,and controlling for high-dimensional fixed effects,the conclusions still hold.Heterogeneity analysis reveals that the enhancing effect of collaborative innovation on enterprise resilience is more pronounced among large-scale enterprises and enterprises in high-tech industries.Mechanism analysis shows that cooperative innovation enhances enterprise resilience by increasing enterprise productivity,improving innovation performance,and alleviating financing constraints.Further analysis reveals that both substantive and strategic cooperative innovation have an enhancing effect on enterprise resilience,but the effect of substantive cooperative innovation on enterprise resilience is more obvious.The marginal contributions of this paper are as follows.First,this paper incorporates cooperative innovation and enterprise resilience into the same analytical framework and analyzes the impact of cooperative innovation on enterprise resilience from the perspectives of enterprise profitability and enterprise growth capacity,enriching research on cooperative innovation,and providing useful insights for further demonstrating that innovation drives the high-quality development of the economy and safeguards national economic security.Second,this paper verifies that cooperative innovation enhances enterprise resilience by increasing enterprise productivity,improving innovation performance,and alleviating financing constraints,providing new empirical evidence for enhancing enterprise resilience from the perspective of cooperative innovation.Third,the paper reveals the impact of substantive and strategic cooperative innovation on enterprise resilience,which can help local governments adopt targeted policies to achieve development goals.This paper provides empirical evidence for enterprises to realize high-quality economic development through cooperative innovation.
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