科研之友
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摘要
Building on the behavioral theory of the firm (BTF), our study investigated how firms adjust their exploitation and exploration R&D internationalization in response to performance shortfalls and how this adjustment is moderated by industry environmental factors. Using 16 years (2003-2018) of data on Chinese listed firms, our study found that in response to performance shortfalls, firms will increase exploitation R&D internationalization rather than exploration R&D internationalization. In other words, performance shortfalls negatively affect the share of exploration R&D internationalization. In addition, we also found that the relationship between performance shortfalls and the share of exploitation R&D internationalization is strengthened by industry market turbulence but weakened by industry technological turbulence.
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单位广西大学; 广东工业大学
