高科技上市公司的大客户:创新的动力来源还是安逸的避风港

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Abstract This paper takes Zhongguancun high-tech listed company as the research object.Based on the innovation characteristics of high-tech companies,it empirically tests the impact of big customers characteristics on innovation.The study finds that as the company's dependence on large customers increased,the “winner effect”highlighted, “market illusion”led to a significant decline in the company's willingness to innovate,innovation input and innovation output.Further research confirms that the difference in the voice of the big customers has a corrective effect on the above-mentioned influence relationship.When the big customers have the active voice,the company's innovation momentum has increased.The research results show that the existence of big customers has become a safe haven for high-tech companies,leading to the company's innovation slack,but this impact will be restricted by the voice of the big customers.

Key words： High-tech listed company Big customer Innovation Discourse power

Received: 20 May 2019

PACS:

F273.1

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	Liu Tingli
	Li Mengmeng

Cite this article:

Liu Tingli,Li Mengmeng. Big Customers of High-tech Listed Companies:Source of Innovation or A Comfortable Haven[J]. , 2020, 1(2): 91-98.

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http://www.zgkjlt.org.cn/EN/ OR http://www.zgkjlt.org.cn/EN/Y2020/V1/I2/91

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