Research On The Relationship Of Intellectual Capital,Exploratory Innovation And Exploitative Innovation And Corporate Performance

Due to the slow growth of the global economy and the increasingly complex external environment,the growth of Chinese economic is also facing shifts,and the pressure on the industrial structure is in urgent need of adjustment.Innovation is the key to dealing with the crisis,the challenge and the improvement of the competitive advantage.In the government report made by Prime Minister Li Keqiang on the 4th meeting of the 12 th NPC held on March5 this year,"innovation" and "reform" have become high-frequency words in the report.The essence of innovation is to create,reshape and relearn knowledge.Intellectual capital--a kind of intangible resource,is a key factor for enterprises to improve their ability to develop.In the process of enterprise development,the excavation and accumulation of intellectual capital is necessary,owing to the ability of maintaining the existing skills,knowledge,capabilities,and management methods of the company,maintain the stable position of the existing market,and stabilize the current income while facing the unpredictable external environment can also break the current intrinsic technological approach to innovate and improve the ability of companies to survive in the future.Therefore,this paper regards exploratory innovation and exploitative innovation as an intermediate bridge between intellectual capital and corporate performance,and studies about interaction of intellectual capital elements,That is,the interaction between human capital and structural capital,the interaction between human capital and relationship capital,and the interaction between structural capital and relationship capital on firm performance.And to explore the mediating effect of exploratory innovation and exploitative innovation.This paper first sorts out and summarizes the relevant literature on the connotation,development history,constituent elements of the intellectual capital and the connotation of dual innovation;then it elaborates on the relevant theories of intellectual capital,dual innovation and corporate performance,and based on theoretical analysis.The research hypothesis of this paper is put forward.Secondly,the data of GEM listed company from 2014 to 2016 is selected and compiled.The data is analyzed in detail by SPSS20.0 and AMOS19.0,and the hypothesis of this study is tested.Finally,we draw the conclusion of this study:Except that the interaction between human capital and structural capital has no significant effect on the long-term performance of enterprises,the interactions between the elements of intellectual capital have a positive and positive effect on the performance of enterprises;the interaction between dual-element innovation and the elements of intellectual capital.Theshort-term performance of enterprises plays a part in mediating role,and it plays a partial intermediary role between the interaction of human capital and relational capital and the long-term performance of enterprises,the interaction between structural capital and relational capital,and the long-term performance of enterprises.The research conclusions on the one hand promote and develop the relationship between intellectual capital and corporate performance.On the other hand,it helps companies to better use intellectual capital to create corporate value and provide corresponding suggestions.