科研之友
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摘要
What type of innovation strategy a firm will adopt when facing the performance gap, and how this strategy will affect the firm's long-term growth, are important theoretical questions. Based on the behavioural theory of the firm, we aim to investigate the mechanism through which the performance gap influences ambidexterity innovation from an industrial aspiration perspective. Utilising a sample of A-share manufacturing listed firms in China from 2007 to 2018, we employ Stata 16.0 to test hypotheses. The findings reveal an inverted U-shaped relationship between performance gap and exploitative innovation and a U-shaped relationship between performance gap and exploratory innovation. That is, when firms experience a gap between their performance and industrial aspiration, they tend to prioritise exploitation over exploration as their innovative approach. Exploitative innovation and exploratory innovation have an inverted U-shaped and U-shaped impact on the value recreation capability, respectively, under the performance gap. Based on the exploitation-exploration ambidexterity innovation framework, we empirically validate the 'local-beyond local' problem search logic posited by the behavioural theory of the firm. Furthermore, by comparing the differentiated recovery effects of exploitative and exploratory innovations, we address the sequential allocation challenges in innovation activities for underperforming enterprises.
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