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| Must the Enterprises with High R&D Intensity Have More Exploratory Innovation? |
| Zhou Xia1, Zhang Xiao1, Li Zihanxin2 |
1.School of Business Administration,South China University of Technology,Guangzhou 510641,China;
2.School of Economics& Management,Nanchang University,Nanchang 330031,China |
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Abstract The exploratory innovation produces a more significant changes based on the prior knowledge base and promotes the firm find new opportunities.So the importance of the exploratory innovation is increasing in the fast changing environments.Using a sample of listed on the China's A-share market form 2011 to 2015,this paper investigates the relationship among R&D intensity and exploratory innovation,and studies the moderating effect that technological opportunity and financial slack impact on that relationship.The results show that:in general,the higher R&D intensity,the less exploratory innovation;furthermore,this relationship is subject to significant regulatory effects,regulating variables can promote the effect of R&D intensity on firm exploratory innovation.There are complementary effects between the two regulatory variables.
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Received: 31 August 2017
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2018, Vol. 0 
