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Keywords

cooperative research and development, innovation ability, relationship investment, R&D investment

Abstract

Under the open innovation model, cooperative research and development between enterprises can effectively solve the problems of lack of their own resources and lack of innovation opportunities, but the lack of innovation ability caused by cooperation has also become the main reason for the high risk and high failure rate of cooperative research and development. This paper takes all a-share companies listed in Shenzhen and Shanghai from 2013 to 2020 as the research object, empirically studies the nonlinear relationship between cooperative R&D and innovation capability from two dimensions of innovation efficiency and innovation sustainability, and analyzes the moderating effect of relationship investment and R&D investment. The results show that there is an inverted U-shaped relationship between cooperative R&D and firm innovation capability. Relationship input and R&D input significantly negatively moderated the inverted U-shaped relationship between cooperative R&D and innovation efficiency, and significantly positively moderated the inverted U-shaped relationship between cooperative R&D and innovation persistence. Therefore, grasping the degree of cooperation in the process of cooperation will help maximize the benefits of cooperation and promote the sustainable innovation and development of enterprises.

DOI

10.16315/j.stm.2022.03.007

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