Disclosed Innovation Intention Of Family Business,R&D Input And Innovation Output

In recent years,China has issued a series of policies to encourage enterprise innovation.Innovation activities are regarded as one of the important ways to achieve sustained and rapid development of China's economy.The prerequisite for the smooth development of innovation activities is sufficient R&D investment.R&D investment can enhance innovation capabilities,and thus improve the performance of innovative outputs.As family businesses have an increasing influence on domestic economic development,scholars have begun to pay attention to their R&D and innovation activities.Due to the influence of social emotional wealth theory,they are significantly different from non-family companies in R&D and innovation activities.However,our family business is affected by special national policies,which makes it have distinctive Chinese characteristics.In-depth study of the opportunities and challenges faced by Chinese family-owned enterprises in implementing innovative strategies is of great significance for understanding and grasping the future growth potential of China's economy.In view of the fact that most of the existing literature studies the dominant influence factors of family business innovation,and lacks attention to hidden factors such as corporate culture and emotion,this paper introduces the variable of family enterprise innovation willingness based on social emotional wealth theory and signal transmission theory,which were used to explain the relationship between family business' s disclosed innovation intention,R&D investment and innovation output.At the same time,this paper combines the mechanism of stewardship theory and reputation theory to study the regulatory effect of executive reputation in family business innovation activities.This paper selects 207 listed family enterprises in China from 2011 to 2017 as the preliminary research object.After screening,a total of 816 valid samples are obtained.Based on the empirical methods of text analysis and multiple regressions,the family enterprise innovation will be disclosed as an independent variable.The number of patent applications is dependent variable,R&D investment is a mediator variable,and the executive reputation is regulatory variable,based on those variables the paper has carried out a series of empirical tests for regulatory variables.And the following empirical results are obtained:(1)The stronger the disclosed innovation intention of family business,the more innovation output of the enterprise;(2)The stronger the disclosed innovation intention of family business,the more R&D investment of the enterprise;(3)Enterprise R&D investment plays a mediating role in the disclosed innovation intention of family business and innovation output;(4)Good executive reputation will enhance the incentive effect of the disclosed innovation intention of family business on innovation output of enterprises;(5)A good reputation of executives will enhance the incentives for the disclosed innovation intention of family business on R&D investment.The theoretical contribution of this research is mainly to introduce the factors of consciousness level,which not only enriches the research on the hidden influence factors of family business innovation activities,but also expands the research on the heterogeneity activities of family enterprises in the disclosure of innovation intentions,and provides new theoretical research perspective;while the practical contribution is mainly to provide management inspiration for how family enterprises can effectively carry out innovation activities.