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How do firms in strategic emerging industries influence their peers’ innovation strategies?

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  • Die Hu
  • Zhiwei Wang
  • Huifang Hu

Abstract

Drawing on signaling theory, peer effect, and the awareness-motivation-capability (AMC) framework, we examine the role of strategic emerging industries (SEI) firms in raising the awareness and motivation of non-SEI firms’ R&D activities, including gaining government R&D subsidies and adopting internal R&D investment, while considering the moderate effect of non-SEI firms’ capability factor. Based on the data of Chinese listed firms from SEI and non-SEI, the empirical results reveal that (a) the number of SEI firms funded by government R&D has an inverted U-shape relationship with the amount that non-SEI firms gain from government R&D subsidies, and has a positive relationship with the investment of non-SEI firms on internal R&D. (b) The financial performance of SEI firms funded by government R&D motivates non-SEI firms to gain government R&D subsidies and invest in internal R&D. (c) These relationships are strengthened by the relative scale of the non-SEI firms.

Suggested Citation

  • Die Hu & Zhiwei Wang & Huifang Hu, 2022. "How do firms in strategic emerging industries influence their peers’ innovation strategies?," Economic Research-Ekonomska Istraživanja, Taylor & Francis Journals, vol. 35(1), pages 3711-3730, December.
    • Handle: RePEc:taf:reroxx:v:35:y:2022:i:1:p:3711-3730
    DOI: 10.1080/1331677X.2021.2004185
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