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Keywords

R&D investment, CEO power intensity, economic policy uncertainty, condition configuration, fsQCA

Abstract

The research on the influencing factors of corporate performance has always been a hot spot in management research, but due to the complexity of actual reality and the uncertainty of the environment, the conclusions obtained from the analysis of similar factors in empirical research have always been different. This paper selects 250 sets of Chinese listed company data from 2015 to 2020 on GTA software, and uses Fuzzy Set Qualitative Comparative Analysis(fsQCA) to analyze the impact of R&D investment, CEO power intensity and economic policy uncertainty on corporate performance. Three high-performance antecedent condition configurations and low-performance antecedent condition configurations are presented. The research results show that:In listed companies, there is no significant causal correlation between corporate R&D investment and the company's current high performance. When economic policy uncertainty is high, high R&D is more likely to lead to low performance of enterprises. When the external economic policy is more uncertain, the higher the CEO's power intensity,the easier it is for the company to obtain better operating performance.

DOI

10.16315/j.stm.2021.01.003

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