中文摘要：

文章研究了两种重要的治理机制——契约和信任,以及它们交互作用,在不同交易持续时间情境下,对企业创新绩效的差异性影响。基于198家制造企业的数据,采用分样本回归分析的方法对假设进行了实证检验。结果显示,在交易时间较短时,契约和信任分别对创新绩效具有正向作用,契约和信任有互补作用;在交易时间较长时,信任对创新绩效有正向作用,契约对创新绩效有负向作用,契约和信任相互替代。研究结论解释了以往研究对契约和信任以及它们之间相互作用对交易关系结果存在争论的原因,也为企业管理者更好地进行治理机制的选择以提高创新绩效提供了实践指导。

英文摘要：

This paper investigates the two important mechanisms- contract and trust,both their individual and interactive ef fects on firm＇s innovation performance.Using data from 198 manufacturers in China,we test the hypotheses by sub-sample regression analysis.The results show that in short-term transactional relationship duration,contract and trust could improve in novation performance separately;contract and trust have complementary effects on innovation performance.On the other hand,in long-term transactional relationship duration,trust could improve innovation performance,while,contract has a negative effect on innovation performance,contract and trust are substitutes.The empirical results not only explain the reasons why prior studies have conflicting conclusions on the individual and interactive effects of contract and trust,but also provide practical guidance for managers about how to choose governance mechanisms to improve innovation performance.