Research On The Effect Of Asset Specificity On Innovation Performance Of Knowledge Intensive Business Services

Accompanied by a new round of industrial revolution and global competition paradigm changes,Chinese economy,which is entering a "New Normal",can no longer rely on factor-scale driving force to over the middle income trap,we must constantly improve the quality of elements,and more rely on the quality of human capital and technological progress,making innovation to become the main driving force.There is a growing economic role of knowledge intensive business services(KIBS),as they have become engines of economic growth and high quality job creation.They promote the spread of knowledge and take on the role of innovation sources,transferors and promoters.In the process of innovation,the existence of resource heterogeneity is the key factor to explain the different combinations of innovation behavior and enterprise performance.Therefore,it is necessary to explore the mechanism of asset specificity to innovation performance in the perspective of KIBS.On the basis of literature review and theoretical deduction,this paper analyzes the influence mechanism of asset specificity on innovation performance,particularly the mediating role of knowledge creation.Then,based on the unbalanced panel data of 269 listed corporations during 2009?2015 in KIBS,the negative binomial distribution regression model of stochastic effect was used to test the hypothesis.Conclusions can be drawn as follows:(1)human asset specificity,dedicated asset specificity,brand capital specificity has a significant positive effect on innovation performance;(2)The former two has significantly positive effects on knowledge creation,brand asset specificity and knowledge creation show no significant negative correlation relationship;(3)knowledge creation has a significant positive effect on innovation performance;(4)knowledge creation partially mediates the influence of human asset specificity,dedicated asset specificity on innovation performance,but not brand asset specificity.The above research expands the application scope of asset specificity in the management field,which is a useful supplement to the theory of service innovation,and fills the sample space needed for such research to a certain extent.At the same time,it provides reference for how KIBS in China can allocate special assets,develop transaction relation,carry out knowledge creation and optimize service innovation mode.