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| Research on the Locking Effect of Relationship-specific Assets on Enterprise Innovation |
| Jia Jun1,Shi Purun2,Wei Yaqing1 |
| (1.Business School, University of Jinan, Jinan 250002 ,China；2.School of Business Administration, Nanjing Audit University, Nanjing 211815, China) |
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Abstract Although customer and supplier collaborative innovation has become an important innovation paradigm, the investment of relationship-specific assets is likely to have a locking effect on enterprise technology innovation. Based on this, this paper analyzes the formation mechanism of the relationship-specific asset's innovation lock-in effect from a strategic perspective, and further explores the role of redundant resources on the relationship-specific asset lock-in effect. After that, we used the panel data of 475 innovative listed companies in China for 2010-2017 to conduct empirical tests. The results show that the relationship-specific assets have a locking effect on enterprise innovation; Strategic orientation has a mediating effect between relationship-specific assets and corporate innovation；Redundant resources can directly mitigate the effect of innovation lock-in on relation-specific assets. The impact of redundant resources of different strategic-oriented enterprises on the lock-in effect of relationship-specific assets innovation has significant differences. Among them, the unlocking effect of redundant resources of exploratory strategy-oriented enterprises is obvious, while the redundant resources of defensive strategy-oriented enterprises not only fail to effectively alleviate, but also enhance the locking effect of relationship-specific assets.
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Received: 08 June 2020
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