School of Business, East China University of Science and Technology, Shanghai, China.
School of Business, Yangzhou University, Yangzhou, Jiangsu, China.
PLoS One. 2024 May 9;19(5):e0297329. doi: 10.1371/journal.pone.0297329. eCollection 2024.
Based on a review of related concepts and theories this study investigates the different impacts of research and development (R&D) innovation and political background on corporate growth in a particular context. Unlike other studies, we integrate these two factors. We empirically analyze 6079 sets of data from 1292 A-share private manufacturing enterprises in Shanghai and Shenzhen from 2012 to 2019. The results show that these factors directly impact corporate growth and have heterogeneous effects at different enterprise growth levels. We find the effect of R&D innovation on corporate growth is more pronounced for young firms. These findings highlight the need for firms to adjust their investments in R&D innovation and political backgrounds at different stages of development to adapt to different markets and political environments.
基于对相关概念和理论的回顾，本研究在特定背景下调查了研发（R&D）创新和政治背景对企业成长的不同影响。与其他研究不同，我们整合了这两个因素。我们实证分析了 2012 年至 2019 年来自上海和深圳的 1292 家 A 股私营制造企业的 6079 组数据。结果表明，这些因素直接影响企业成长，并且在不同的企业成长水平下具有异质性影响。我们发现，研发创新对企业成长的影响对于年轻企业更为显著。这些发现强调了企业在不同发展阶段需要调整其在研发创新和政治背景方面的投资，以适应不同的市场和政治环境。
