Analysis Of Influence Factors Of Growth Heterogeneous SMEs' R&D Ooperation

The improvement of innovation capability has become an important goal for SMEs' development.However,due to the lack of R&D funds and weak research capabilities,it's so difficult for SMEs to independently complete the process of developing new products to service that they often need to cooperate with other enterprises on innovation.While the growth abilities of SMEs have significant changes in the process of development,the heterogeneity of enterprises are caused by the different characteristics of their production and operation activities which makes influence factors of SMEs' R&D cooperation varied.In view of the lack of SMEs' R&D cooperation with other enterprises,this paper mainly studies the differences in the influence factors of R&D cooperation among growth heterogeneous SMEs.Firstly,drawing on the theory of enterprise life cycle,the paper defines the growth heterogeneous SMEs,and according to the growth capability of enterprises,divides SMEs into high growth enterprises,stable growth enterprises and low growth enterprises corresponding to different stages of the life cycle.Secondly,the paper analyzes the relationships between the enterprise innovation ability,internal resources,leader ability,government subsidies and R&D cooperation,and builds an R&D cooperation-income distribution model of two enterprises based on Nash bargaining model.Combined the selection conditions of R&D cooperation got from the model,the paper further analyzes the mechanism of each factor to R&D cooperation through the cost coefficient and negotiation ability etc.Furthermore,the paper analyzes the changes in the influence factors of R&D cooperation among enterprises,and puts forward relevant research hypotheses.Finally,the paper divides the growth heterogeneous SMEs using the cash flow combination method.Based on the panel data of small and medium-sized listed enterprises,it analyzes the differences in the influence factors of R&D cooperation among growth heterogeneous SMEs.The empirical results show that there are differences in the influence factors of R&D cooperation among growth heterogeneous SMEs.Government subsidies have a significant positive impact on R&D cooperation among heterogeneous SMEs.While ownership concentration has a significant inhibitory effect on R&D cooperation of high and low growth SMEs,and has a larger role in low growth SMEs.This study provides a theoretical basis for the government to formulate targeted policies to encourage SMEs' R&D cooperation based on their growth heterogeneity,and has implications for SMEs management.Combined with the research findings,some suggestions are given that the government should implement policies supporting SMEs' R&D cooperation based on their growth capability,and improve the SMEs' public service platform to promote their R&D cooperation with other enterprises.The enterprise managers of SMEs need to accurately grasp the growth stage of the enterprise and adjust the management strategy and model timely.