基于汽车产业93家上市公司2003-2012年的面板数据,采用负二项随机效应回归模型,探讨了高管团队特征、研发强度对二元式创新的影响。研究结果表明:研发强度对探索式创新与利用式创新产生显著正向影响,且随着研发强度的增大,企业倾向于采用利用式创新;高管团队平均年龄、年龄异质性与任职期异质性正向调节研发强度与二元式创新之间的关系;团队规模与平均任职期具有负向调节作用;但平均任职期、年龄异质性的调节作用不显著,平均年龄对研发强度与利用式创新之间关系的调节作用不显著。
This paper explores how characteristic of top management team, R&D intensity influence dualistic innovation through random-effect negative binomial regression models, based on a panel data from 93 listed corporations between 2003 and 2012 in automobile industry. The results indicate that R&D intensity has a positive and significant effect on dualistic innovation, and the higher the R&D intensity is, the higher the possibility for a firm to undertake exploitative innovation will be; TMT average age, team age heterogeneity and team tenure hete- rogeneity positively moderate the relationship between R&D intensity and dualistic innovation; TMT size and ave- rage team tenure have negative moderating effects; whereas the moderating role of team tenure and team age hete- rogeneity are not significant, and the moderating role of average age on the relationship between R&D intensity and exploitative innovation is not significant.