How Does Open Innovation Affect Total Factor Productivity of Enterprises?——the Mediating Role of Dynamic Capability
The report to the 20th National Congress of the Communist Party of China pointed out that efforts should be made to improve total factor productivity(TFP)and promote high-quali-ty development.Innovation is an important way to improve TFP.Based on the data of A-share listed manufacturing companies in Shanghai and Shenzhen Stock exchanges from 2013 to 2020,this paper empirically tests the effect and path of open innovation on TFP of enterprises.The results show that open innovation can effectively improve enterprises'TFP,and dynamic capabilities play a partial me-diating role in the impact of open innovation on TFP.Heterogeneity analysis finds that compared with non-state-owned enterprises,the breadth of open innovation in state-owned enterprises has a stron-ger promotion effect on TFP;The promotion effect of open innovation on TFP is more significant in enterprises with lower degree of financing constraints and in the growth stage of their life cycle.The empirical findings of this paper help clarify the impact of open innovation on TFP of enterprises,and provide reference for enterprises and governments to promote the high-quality development of enter-prises from the perspective of innovation-driven.
Open innovationTotal factor productivityDynamic capability
万方数据
