TITLE:
Can Reducing Knowledge Network Sharing Degree Improve Innovation Performance of Specialized and Special New Enterprises? The Role of Financial Constraints
AUTHORS:
Lin Xin, Wanting Bian
KEYWORDS:
Knowledge Network Sharing Degree, Innovation Performance of Specialized and Special New Enterprises, Financing Constraints, Digital Transformation
JOURNAL NAME:
American Journal of Industrial and Business Management,
Vol.12 No.10,
October
28,
2022
ABSTRACT: This paper takes the specialized and special new
A-share listed companies from 2012 to
2021 as the research samples, and uses the method of combining theoretical and empirical research to explore the
impact of knowledge network sharing degree on the innovation performance
of specialized and special new enterprises, and analyzes the regulatory effect
of financing constraints on this relationship.
The empirical results show that reducing the sharing degree of knowledge network of specialized and special
new enterprises can significantly improve the innovation performance of
enterprises, and financing constraints play
a positive regulatory role in this relationship. The heterogeneity test based on the micro characteristics of enterprises shows that in the enterprises
with the integration of the chairman and the general manager and the high
degree of corporate equity balance, due to the low degree of information
asymmetry, reducing the degree of knowledge network sharing has a more
significant effect on the improvement of enterprise innovation performance and
the regulatory effect of financing constraints. What’s more, further
research finds that the digital transformation of specialized and special new
enterprises can significantly enhance the
positive regulatory effect of financing constraints on knowledge network
sharing degree and enterprise innovation performance. The research
conclusion of this paper is of great significance for the specialized and
special new enterprises to strengthen the protection of intellectual property rights, strengthen the “differentiation”
competition strategy, and make full
use of knowledge resources to create core competitive advantages to achieve sustainable development of enterprises.