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| The Impact of High-tech Enterprise Diversification Strategy on the Persistence of Innovation |
| Sheng Yuhua,Zhu Sailin |
| （Business School，Nanjing Normal University，Nanjing 210046，China） |
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Abstract Based on the resource-based theory and the endogenous mechanism of persistent innovation, this paper uses the panel data of 435 high-tech companies from 2010 to 2018 to explore the impact of diversification strategies on the high-tech companies' persistence of innovation. The research results show that product diversification and innovation persistence have a positive u-shaped relationship. Technology diversification has a positive promotion effect on innovation persistence, and the interaction effect of product diversification and technology diversification has a negative impact on innovation persistence. Dynamics capability positively regulates the u-shaped relationship between product diversification and innovation persistence and the relationship between technological diversification and innovation persistence; under the regulation of dynamic capabilities, the synergy between product diversification and technological diversification of high-tech companies have a positive impact on the persistence of innovation.
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Received: 15 June 2020
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