The importance of institutional and financial resources for export performance associated with technological innovation

Lichao Wu; Yingqi Wei; Chengang Wang; Frank McDonald; Xia Han

doi:10.1016/j.techfore.2022.122040

The importance of institutional and financial resources for export performance associated with technological innovation

Lichao Wu, Yingqi Wei^*, Chengang Wang, Frank McDonald , Xia Han

^*Corresponding author for this work

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Abstract

This study adopts a resource contingency perspective to examine the impact of technological innovation on export performance of manufacturing firms. In view of institutional voids and capital market imperfections in emerging economies, we propose that two types of resources, institutional resources and financial resources, are of differential value in the innovation-exports nexus. Empirical results, based on a large sample of Chinese manufacturing firms, show that technological innovation embodied in the patent has positive effect on exports, but such effect is diminished by institutional resources (captured by state-ownership, business group affiliation and government subsidy) and enhanced by internal financial resources (captured by financial slack).

Original language	English
Article number	122040
Number of pages	22
Journal	Technological Forecasting and Social Change
Volume	185
Early online date	26 Sept 2022
DOIs	https://doi.org/10.1016/j.techfore.2022.122040
Publication status	Published - Dec 2022

Bibliographical note

Funding Information:
This study was supported by the National Social Science Foundation of China (grant number 21BJL088 ).

Publisher Copyright:
© 2022 The Authors

Keywords

China
Export performance
Financial resources
Financial slack
Innovation
Institutional resources
Resource contingency perspective
State capitalism

ASJC Scopus subject areas

Business and International Management
Applied Psychology
Management of Technology and Innovation

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10.1016/j.techfore.2022.122040Licence: Creative Commons: Attribution-NonCommercial-NoDerivs (CC BY-NC-ND)

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title = "The importance of institutional and financial resources for export performance associated with technological innovation",

abstract = "This study adopts a resource contingency perspective to examine the impact of technological innovation on export performance of manufacturing firms. In view of institutional voids and capital market imperfections in emerging economies, we propose that two types of resources, institutional resources and financial resources, are of differential value in the innovation-exports nexus. Empirical results, based on a large sample of Chinese manufacturing firms, show that technological innovation embodied in the patent has positive effect on exports, but such effect is diminished by institutional resources (captured by state-ownership, business group affiliation and government subsidy) and enhanced by internal financial resources (captured by financial slack).",

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author = "Lichao Wu and Yingqi Wei and Chengang Wang and Frank McDonald and Xia Han",

note = "Funding Information: This study was supported by the National Social Science Foundation of China (grant number 21BJL088 ). Publisher Copyright: {\textcopyright} 2022 The Authors",

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doi = "10.1016/j.techfore.2022.122040",

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T1 - The importance of institutional and financial resources for export performance associated with technological innovation

AU - Wu, Lichao

AU - Wei, Yingqi

AU - Wang, Chengang

AU - McDonald , Frank

AU - Han, Xia

PY - 2022/12

Y1 - 2022/12

N2 - This study adopts a resource contingency perspective to examine the impact of technological innovation on export performance of manufacturing firms. In view of institutional voids and capital market imperfections in emerging economies, we propose that two types of resources, institutional resources and financial resources, are of differential value in the innovation-exports nexus. Empirical results, based on a large sample of Chinese manufacturing firms, show that technological innovation embodied in the patent has positive effect on exports, but such effect is diminished by institutional resources (captured by state-ownership, business group affiliation and government subsidy) and enhanced by internal financial resources (captured by financial slack).

AB - This study adopts a resource contingency perspective to examine the impact of technological innovation on export performance of manufacturing firms. In view of institutional voids and capital market imperfections in emerging economies, we propose that two types of resources, institutional resources and financial resources, are of differential value in the innovation-exports nexus. Empirical results, based on a large sample of Chinese manufacturing firms, show that technological innovation embodied in the patent has positive effect on exports, but such effect is diminished by institutional resources (captured by state-ownership, business group affiliation and government subsidy) and enhanced by internal financial resources (captured by financial slack).

KW - China

KW - Export performance

KW - Financial resources

KW - Financial slack

KW - Innovation

KW - Institutional resources

KW - Resource contingency perspective

KW - State capitalism

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VL - 185

JO - Technological Forecasting and Social Change

JF - Technological Forecasting and Social Change

M1 - 122040

ER -

The importance of institutional and financial resources for export performance associated with technological innovation

Abstract

Bibliographical note

Keywords

ASJC Scopus subject areas

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