文献类型：期刊文献

英文题名：How do competitors and partners shape corporate R&D investments

作者：Wang, Xincheng[1];Hou, Ye[2];Cheng, Wan[3];Guo, Jingzhou[4]

机构：[1]Tongji Univ, Sch Econ & Management, Shanghai, Peoples R China;[2]Univ Greenwich, Fac Business, Sch Syst Management & Strategy, London, England;[3]Shanghai Jiao Tong Univ, Antai Coll Econ & Management, Shanghai, Peoples R China;[4]East China Univ Sci & Technol, Dept Business Adm, Shanghai, Peoples R China

年份：2023

卷号：48

期号：3

起止页码：1106

外文期刊名：JOURNAL OF TECHNOLOGY TRANSFER

收录：;EI(收录号：20222112135565);WOS:【SSCI(收录号:WOS:000796831200003)】；

基金：This study is supported by the Fundamental Research Funds for the Central universities granted by East China University of Science and Technology.

语种：英文

外文关键词：R&D investments; Partners' and competitors' R&D investments; Vicarious learning

摘要：Strategy management alludes to the organizational and environmental factors that shape firms' propensities to make research and development (R&D) investments. We complement this literature by building on vicarious learning to explain how a firm determines its own R&D investment level based on the R&D investment patterns of partners and competitors. Using panel data on firms publicly traded in China, we show an inverted U-shaped relationship between a firm's R&D investment pattern and the R&D investment patterns of its partners and competitors. Convergence is driven by imitation and legitimation while divergence is explained by risk perception. We conclude that competitors represent a more valuable reference than partners. Our findings advance research on vicarious learning and the antecedents of R&D investments, underscoring the role of interdependence in influencing firms' R&D investment decisions.