Research on the Impact and Mechanism of CVC on Corporate Technological Innovation from the Perspective of Organizational Learning
Corporate technological innovation cannot be separated from continu-ous organizational learning.Based on organizational learning theory,this article examines the impact and mechanism of corporate venture capital on technological innovation.Using manually verified data from 647 Chinese A-share listed companies participating in corporate venture capital activities from 2010 to 2022 as a sample,empirical testing found that:CVC has a significant promoting effect on corporate technological innovation. CVC mainly promotes technological innovation in en-terprises by driving digital transformation and enhancing their absorptive capacity.The industry distance and transportation time between the parent enterprise and the start-up enterprise have a negative moderating effect on the relationship between CVC and enterprise technological innovation,while the impact of spatial distance is not significant.The impact of CVC on enterprise technological innovation has re-gional heterogeneity characteristics.Compared with the western region,CVC has a better promoting effect on enterprise technological innovation in the eastern and central regions with better economic development.The research conclusion of this ar-ticle provides decision-making basis and empirical evidence for further utilizing CVC to promote technological innovation in enterprises.
NETL
NSTL
万方数据
