R&D Leap And Operational Efficiency

In the context of the historical changes in China's economic growth momentum and structure,the state further emphasizes the status and role of science and technology in economic development.Innovativeness is an important driving force for enterprise development.According to relevant statistics,more and more enterprises attach importance to increasing R&D investment in the process of production and operation and improving their competitive advantages.In a rapidly changing environment,companies need to achieve sustainable development through research and development leap.However,there are certain risks in the process of research and development leap.Therefore,how to overcome risks and ensure the effectiveness of R&D leap still needs to be resolved.Firstly,on the basis of summarizing and summarizing the previous scholars' literature,this paper discusses the impact of the magnitude of R&D leap on performance and efficiency.Then,combining the theory of punctuated equilibrium,it analyzes the relationship between the magnitude of R&D leap and operational efficiency.The influence of environmental dynamism and environmental munificence on the relationship between the magnitude of R&D leap and operational efficiency is discussed.Finally,managers' cognition complexity is further explored to explore the mechanism of the relationship between internal cognition and external environment.Based on the panel data of 257 GEM listed companies from 2011 to 2016,this paper constructs a multivariate regression linear model to analyze and test the impact of the magnitude of R&D leap on operational efficiency.The results show that:(1)the magnitude of R&D leap has a negative relationship with operational efficiency.(2)Environmental dynamism positively moderates the relationship between the magnitude of R&D leap and operational efficiency.(3)Environmental munificence negatively moderates the relationship between the magnitude of R&D leap and operational efficiency.(4)The 3-way interaction of environmental dynamism and cognitive complexity negatively moderates the relationship between the magnitude of R&D leap and operational efficiency.(5)The 3-way interaction of environmental munificence and cognitive complexity positively moderates the relationship between the magnitude of R&D leap and operational efficiency.This research has important theoretical and practical significance for enterprises to correctly understand risks,make correct decision of R&D leap,and improve the Operational efficiency of the organization.