Differences in the impact of R&D intensity and R&D internationalization on firm performance – Mediating role of innovation performance
This paper investigates the mediating role of innovation performance in the effects of R&D intensity and R&D internationalization on firm performance, using 1540 firm-year observations from a balanced panel of 385 privately-owned firms listed on the Shanghai and Shenzhen stock exchanges. Res...
| Main Authors: | , |
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| Format: | Journal Article |
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Elsevier
2021
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| Online Access: | http://hdl.handle.net/20.500.11937/82991 |
| _version_ | 1848764553919201280 |
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| author | Leung, Tak Yan Sharma, Piyush |
| author_facet | Leung, Tak Yan Sharma, Piyush |
| author_sort | Leung, Tak Yan |
| building | Curtin Institutional Repository |
| collection | Online Access |
| description | This paper investigates the mediating role of innovation performance in the effects of R&D intensity and R&D internationalization on firm performance, using 1540 firm-year observations from a balanced panel of 385 privately-owned firms listed on the Shanghai and Shenzhen stock exchanges. Results show a negative effect of R&D intensity on short-term (profitability) and positive effect on long-term (firm value) financial performance but no significant effect on export (sales) performance. In contrast, R&D internationalization has a positive effect on export performance but no significant effect on short- or long-term financial performance. Moreover, innovation performance (number of patents) partially mediates the impact of R&D intensity and R&D internationalization on firm performance and these effects vary based on firm age and size. Besides extending current literature on R&D investments, these results have useful implications for firms especially those from emerging markets with international R&D operations or those aiming to internationalize their R&D activities. |
| first_indexed | 2025-11-14T11:21:12Z |
| format | Journal Article |
| id | curtin-20.500.11937-82991 |
| institution | Curtin University Malaysia |
| institution_category | Local University |
| last_indexed | 2025-11-14T11:21:12Z |
| publishDate | 2021 |
| publisher | Elsevier |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | curtin-20.500.11937-829912025-01-17T07:36:20Z Differences in the impact of R&D intensity and R&D internationalization on firm performance – Mediating role of innovation performance Leung, Tak Yan Sharma, Piyush This paper investigates the mediating role of innovation performance in the effects of R&D intensity and R&D internationalization on firm performance, using 1540 firm-year observations from a balanced panel of 385 privately-owned firms listed on the Shanghai and Shenzhen stock exchanges. Results show a negative effect of R&D intensity on short-term (profitability) and positive effect on long-term (firm value) financial performance but no significant effect on export (sales) performance. In contrast, R&D internationalization has a positive effect on export performance but no significant effect on short- or long-term financial performance. Moreover, innovation performance (number of patents) partially mediates the impact of R&D intensity and R&D internationalization on firm performance and these effects vary based on firm age and size. Besides extending current literature on R&D investments, these results have useful implications for firms especially those from emerging markets with international R&D operations or those aiming to internationalize their R&D activities. 2021 Journal Article http://hdl.handle.net/20.500.11937/82991 10.1016/j.jbusres.2021.03.060 http://creativecommons.org/licenses/by-nc-nd/4.0/ Elsevier fulltext |
| spellingShingle | Leung, Tak Yan Sharma, Piyush Differences in the impact of R&D intensity and R&D internationalization on firm performance – Mediating role of innovation performance |
| title | Differences in the impact of R&D intensity and R&D internationalization on firm
performance – Mediating role of innovation performance |
| title_full | Differences in the impact of R&D intensity and R&D internationalization on firm
performance – Mediating role of innovation performance |
| title_fullStr | Differences in the impact of R&D intensity and R&D internationalization on firm
performance – Mediating role of innovation performance |
| title_full_unstemmed | Differences in the impact of R&D intensity and R&D internationalization on firm
performance – Mediating role of innovation performance |
| title_short | Differences in the impact of R&D intensity and R&D internationalization on firm
performance – Mediating role of innovation performance |
| title_sort | differences in the impact of r&d intensity and r&d internationalization on firm
performance – mediating role of innovation performance |
| url | http://hdl.handle.net/20.500.11937/82991 |