【摘要】 研发投资是企业发展竞争优势的关键因素。本文基于资源观,运用233家上市公司2007年-2011年为样本的面板数据,研究可吸收冗余、政治关系强度对企业研发投资的直接影响及交互效应。通过面板数据的固定效应检验,运用固定效应回归模型,实证研究得出已吸收冗余与企业研发投资呈倒U型关系,政治关系强度对企业研发投资有正向促进作用,且企业政治关系强度进一步增强已吸收冗余与研发投资的倒U型关系。本研究拓展了研发投资的理论研究,同时对于中国企业技术创新投资有实践指导价值。更多还原

【Abstract】 Research and development( R&D) investment is the key factor to a firm’s competitive advantages. Based on the resource-based theory,the paper studies the direct effect and interaction effect of absorbed slack and political ties strength on R&D investment with the panel data of 233 listed companies from 2007 to 2011. After the cross-section fixed effects tests,the paper finds that absorbed slack has an inverted U-shaped relationship with R&D investment and political ties strength has a positive effect on R&D investment. Further,it finds that both positive and negative effects of absorbed slack on R&D investment are more pronounced for list companies with stronger political ties. The paper extends the theoretical research of R&D investment,and it also has a practical value to Chinese firms’ tech-innovation.更多还原