Research On The Impact Of Long-term Orientation On Enterprise Innovation Performance

Under the social background of fierce competition,more and more enterprises begin to pay attention to innovation.Innovation is an inexhaustible driving force for the development of enterprises,and enterprises can enhance their core competitiveness by improving their innovation ability.How to improve innovation performance is an important issue for enterprises.In fact,existing studies have confirmed that there are many factors that affect innovation performance,however,there are few studies on the relationship between long-term orientation and enterprise innovation performance from the perspective of enterprise values and strategic orientation.In addition,considering the chip events in recent years,we can find that the long-term orientation is of great significance to the innovation ability and output of enterprises.Therefore,from the perspective of long-term orientation,this study explores the relationship between long-term orientation and enterprise innovation performance through empirical research.In this study,a conceptual model was developed by literature review.Among the conceptual model,long-term orientation is regarded as an independent variable,enterprise innovation performance as a dependent variable,and R&D Investment Intensity as an intermediary variable between long-term orientation and enterprise innovation performance,the environment dynamics is regarded as the moderating variable between R&D investment intensity and enterprise innovation performance.Based on the conceptual model,the research hypothesis is put forward through theoretical analysis and deduction.In the process of testing the hypothesis,48 A-share listed companies in the communications equipment manufacturing industry were taken as the sample,and the sample observation values were selected in the time span of 5 years.In the variable measurement,the text analysis method is used to measure the long-term orientation,which is quantized to facilitate regression analysis.Because of the lag effect of enterprise innovation performance,the variable was selected with a time lag of one year when the observed value was selected in this study.Finally,the hypothesis is verified by Eviews 6.0.The results show that: first,long-term orientation has a significant positive effect on enterprise innovation performance.Second,R&D investment intensity plays an intermediary role between long-term orientation and enterprise innovation performance.Third,environmental dynamics has a negative moderating effect on the relationship between R&D investment intensity and enterprise innovation performance.