Innovation Input and Enterprise Resilience:Internal Mechanism and Industrial Chain Cooperation
A new round of global technology and industrial competition is intensifying.As an important player in the global economy,enterprise development represents the economic state of each country.At present,uncertainties and risks in the world economic environment are intensifying,and the resilience of enterprises directly affects the security of a country's industrial chain.Technological innovation provides an important path to enhance the resilience of enterprises and the security of industrial chains.From the perspective of industrial chain synergy of corporate resilience,we use the data of listed companies from 2007 to 2021 to analyze the impact of innovation on corporate resilience and its internal mechanism,and further discusses the industrial chain synergy effect of corporate resilience.The findings are as follows:There is an inverted"U"-shaped relationship between innovation and firm resilience,and the positive incentive effect of innovation on firm resilience has a limited range.The mechanism test found that innovation affects firm resilience through technological innovation ability and human capital.Heterogeneity research shows that the inverse"U"-shaped relationship between innovation and firm resilience is more obvious in the southern region before the COVID-19 outbreak from 2007 to 2019 and in state-owned enterprises,mining,manufacturing,wholesale and retail industry from 2007 to 2021.Compared with enterprises in the growth stage,the resilience of enterprises in the mature stage is more sensitive to R&D investment.Further research finds that the innovation and resilience of upstream enterprises in the industrial chain also show an inverted"U"shaped relationship.Further research finds that enterprise resilience has a synergistic effect in the industrial chain,and the increased resilience of upstream enterprises has a positive spillover effect on downstream enterprises,improving the resilience of downstream enterprises and even the overall industrial chain.The marginal contribution of this paper may be as follows:first,this paper studies enterprise resilience from the perspective of micro market players,theoretically analyzes and empirically tests the nonlinear relationship between enterprise innovation and resilience,and provides feasibility evidence for enterprise innovation activities to not expand disorderly and to maintain growth within a reasonable range.Second,a complete mechanism analysis and multi-level heterogeneity analysis framework should be constructed to deeply explore the asymmetric characteristics of the impact of innovation on enterprise resilience in various aspects,so as to provide feasibility reference for enterprise innovation fund management and national optimization of industrial chain layout.Thirdly,from the perspective of industrial chain synergy,this paper responds to the academic concerns about the synergy of enterprise resilience in the industrial chain,and promotes China to build a modern industrial chain with high security and resilience.In terms of management enlightenment and policy suggestions:First,the enterprise management level.Enterprise managers should have innovative strategic management thinking to prevent the disorderly expansion of innovation capital investment.At the same time,we will build and improve platforms such as technological innovation laboratories to provide complete platform support for highly skilled talents.Second,the level of policy inspiration.The government should continuously improve the innovation policy incentive system and implement differentiated industrial policies.In view of the high cost and easy reproduction of innovation,we will strengthen the construction of the intellectual property protection system.In addition,the government needs to improve the upstream and downstream linkage mechanism of the industrial chain,encourage large science and technology enterprises with upstream and downstream linkage capabilities to serve as the"chain length"of the industrial chain,and accelerate the coordination and"series"of policies.
innovation inputresilience of enterprisesindustrial chain coordinationinput and output
NETL
NSTL
万方数据
