Impact of innovation input on big data enterprise performance and its threshold effect
As a venture capital activity,innovation investment is an important support for big data enterprises to carry out innovation activities,but its effects have high uncertainty.The empirical research results on innovation investment and big data enterprise performance are still limited,and so far,there has been no attention to nonlinear effects.Exploring the impact of innovation investment on the performance of big data enterprises and its threshold effect has important theo-retical and practical significance for big data enterprises to improve their performance through innovation investment.Therefore,the paper theoretically examines the impact of innovation investment on the performance of big data enterpri-ses.Based on this,benchmark regression models,moderating effect models,and threshold effect models are constructed using big data enterprises listed on the Shanghai and Shenzhen A-shares from 2013 to 2019 as research samples.Empiri-cal tests are conducted to examine the impact of innovation investment on enterprise performance,and to examine the moderating effect of technology accumulation and the nonlinear relationship between innovation investment and enterprise performance.Research has found that innovation investment can help improve the performance of big data enterprises,and the impact has a certain lag.This conclusion is still valid after a series of endogenous tests and robustness tests,such as the introduction of instrumental variables,mixed regression and substitution of explained variables.The moderating effect test shows that technology accumulation has a negative moderating effect on the relationship between innovation in-vestment and enterprise performance.The threshold effect test indicates that there is a non-linear relationship between the impact of innovation investment on enterprise performance,and it is necessary to control the proportion of innovation in-vestment.Consequently,big data enterprises should devise sustainable innovation investment strategies,allocate R&D re-sources efficiently,emphasize the recruitment and development of innovative talent,and collaborate with research institu-tions.They should also strengthen innovation management,enhance exploratory innovation capabilities,develop scientific plans,establish internal warning mechanisms,and prevent excessive innovation investment from hindering performance.
big data enterprisesinnovation inputenterprise performancethreshold effect
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