The Innovation Of Enterprise Culture?Financial Slack And R&D

With the development of the economy,the state has put forward a stable economic situation,such as the new economy normality,the reform of the supply side,and the driving of innovation.The support of our nation is important.From the aspect of enterprises,how to get an overwhelming and sustained core competitiveness is the fundamental problem.Adequate R&D investment is an important driving force for enterprises to maintain competitive advantage and sustain vitality.In the advocacy of The Belt and Road policy,the enterprises are asked to upgrade entirely in product innovation,management innovation,business model innovation and other aspects.The importance of innovation is self-evident to both the macro economy and the micro individual.When countries and businesses are vigorously advocate and promote the innovative corporate culture,it is the theoretical significance and value of our study to know if the words of the enterprises which advocate innovative cultural match to the deed,if they are on the process of technology researching and developing,and if innovative corporate culture is driven enterprise innovation behavior.This is also the theoretical significance and value of our study.In addition,enterprise resources are important components for enterprises to establish and maintain competitive advantages,but resources do not always flow to innovation.Because the process of innovation consumes resources,it is very necessary for enterprises to search for redundant resources.Financial redundant resources have great relationship with business policies.Agency theory considers redundant resources as a manifestation of high cost and low efficiency,which will exacerbate managers' decision making behavior and further influence enterprise innovation.Financial redundancy really encourage enterprises to carry out more research and development investment and promote the healthy and sustainable development of the enterprises.In the past,the study of the influence of corporate culture on enterprise innovation behavior is lack of consideration of the regulatory role of enterprise redundant resources.This paper introduces financial redundancy to discuss how the interaction between innovation culture and financial redundancy will affect the research and development of the enterprise.The interaction of innovation culture and financial redundancy in the impact of enterprise R&D behavior also helps us to understand the integration of corporate culture and enterprise resources.By using the data of the listed companies of machinery,equipment and instrument industry for 2011-2016 years in China's manufacturing industry,,we get the following empirical results.(1)the innovation of enterprise culture has promoted the enterprise R&D investment;(2)fimancial slack has promoted the enterprise R&D investment;(3)financial redundancy reversely regulates the role of innovation culture in R&D investment.(4)compared with state-owned enterprises,the financial redundancy in non-state-owned enterprises is more obvious in the positive regulation of innovation culture and R&D investment relationship.