The Study On The Relationship Between Technology Innovation Strategy And Enterprise Performance

Technology innovation strategy is an important competitive strategy for enterprises to improve their performance.However,many enterprises in China are still troubled by the problem of limited innovation resources.Under such circumstance,how to choose a suitable pathway for technology innovation and allocate resources effectively become critical to realize innovation-driven value.Based on the classification of exploratory and exploitative technology innovation strategy,this study explores the influences of these two types of innovation on enterprise performance,and the moderating effects of dynamic capability and R&D investment structure in the process of technology innovation.On the one hand,compared to previous studies which treated enterprise performance as a single-dimension construct,this study divides it into innovation performance(technical and commercial)and business performance(growth and profitability),and deeply analyzes the different effects of exploratory and exploitative technology innovation strategy on each type and dimension of performance.On the other hand,the implementation of technology innovation strategy depends on many context factors.This study focuses on the matching relationships between the two types of technology innovation strategy and dynamic capability(adaptive capability,absorptive capability,innovative capability)as well as R&D investment structure,in order to achieve higher performance.Using the data collection method of questionnaire survey,we conducted the empirical study with 168 sample firms and found that:(1)Both exploratory and exploitative technology innovation strategy have positive effects on innovation performance and business performance,but the effects of these two types of innovation on each dimension of performance are different;(2)For the moderating effect of dynamic capability,adaptive capability and innovative capability positively moderate the relationship between exploratory innovation and enterprise performance,while adaptive capability and absorptive capability positively moderate the relationship between exploitative innovation and enterprise performance;(3)For the moderating effect of R&D investment structure,the proportion of creative R&D investment positively moderates the relationship between exploratory innovation and enterprise performance,but the moderating effect for exploitative innovation is not significant.The research results enrich the theoretical perspectives in the field of technology innovation,and also provide theoretical references for enterprises to conduct technology innovation activities with more clear targets.