Studies On Enterprise's Dynamical Mechanism Of Joining The Innovation Network Based On Real Options

The research on innovation network began in the early 1990s in China. With the hotter and hotter development of the regional economics, Innovation network are more and more paid attention to by scholars and the governments. As a result, many research fruits of innovation network have being emerged. And innovation network has growing rapidly, which forming with the technology industrial park as the core.Enterprises are the main body of Innovation Network. Its accumulative activities are the prerequisite for the network building and expanding. Because the innovation network has powerful advantages of innovation and competition, it has provided a good opportunity to the enterprise for its strategic development.Unfortunately, the previous research on enterprises mainly concerned the particular region or particular factor. And the study on dynamic mechanism has not been considered in terms of the corporation strategy-making.This paper mainly uses the real option to carry on the investment analysis, in which the enterprise's behavior of joining the innovation network is regarded as the enterprise's strategic decision. The conversion of this thinking made this paper jump out the traditional research mode on dynamic mechanism of the innovation network.The quantities benefits are substituted for the abstract motivation description, which makes the research on dynamical mechanism analyzed from the view of investment analysis of enterprise's decision on the strategic and option. The inner relationships between various motivations were excavated through making the profit effectiveness for a period of time. So we can conclude that the decision about enterprises joining the innovation network is the rational decision based on strategy-making. And its dynamic mechanism coincides with options value theory, which is: the factors of intertemporal benefits have more option value and more motive power than temporal factors. The following positive research also supports this. Taking and using real option, it deepens the research on enterprise entering innovation network from the decision of economic development to the micro analysis of enterprise strategy-making. This not only offers the guidable theory for spurring the development of local innovation network, but also offers a new analytical method for the strategy-decision of enterprise.