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| The Credit Portrait Characteristics of Continuous Innovation Enterprises: The Keyword Iteration Method |
| Chi Renyong1,2,Dong Ying2 |
| (1.China Institute for Small and Medium Enterprises, Zhejiang University of Technology；2.College of Management, Zhejiang University of Technology,Hangzhou 310012,China) |
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Abstract Nowadays, China's economic development has stepped into a new normal, and the economic growth mode has changed from factor and investment-driven to innovation-driven. Economic anti-globalization and global economic game make the importance of innovation-driven self-evident. A new round of scientific and technological revolution and industrial revolution have swept many fields of industrial operation and enterprise operation. Against the increasingly complex and turbulent environment, the existing competitive advantages of enterprises gradually become the core rigidity that restricts enterprise development, and the single indirect innovation of enterprises can no longer meet the needs of long-term development of enterprises. In addition, under the condition of market economy, the premise of the survival and development of enterprises is the good faith management. Therefore, the relationship between enterprise credit and enterprise continuous innovation is the focus of this paper. Existing studies have shown that there is a significant relationship between enterprise credit and enterprise continuous innovation, but in-depth and detailed analysis has not been carried out. Therefore, in this paper, the enterprise credit portrait is included in the research framework of enterprise continuous innovation, and CiteSpace analysis is used to find that there is multi-dimensional cross and fusion between enterprise credit and enterprise continuous innovation. It is proved that the research on enterprise credit and enterprise continuous innovation has certain commonality. Further the enterprise credit portrait is depicted from three dimensions of corporate legitimacy, corporate practice and corporate credit culture, and 189 enterprises of NEEQ and GEM from 2010 to 2019 are selected as research samples for empirical test.#br#The results show that corporate practice and credit culture promote R&D investment, and corporate legitimacy and credit culture promote patent application; there are similarities and differences in the credit profiles of enterprises with different duration of continuous innovation, which is mainly reflected in the fact that no matter what kind of continuous innovation stage enterprises are in, the investment in R&D is significant, but the investment in patent application is not significant. However, forcontinuous innovation start-ups, corporate legitimacy has no significant effect on R&D investment and patent application, and corporate credit culture has significant effect on R&D investment and patent application. For senior continuous innovation enterprises, corporate legitimacy has no significant effect on R&D investment, but has significant effect on patent application. Corporate credit culture has a significant effect on R&D investment, but not on patent application.#br#This paper expands the research of enterprise sustainable innovation, reveals the relationship between enterprise credit image and enterprise sustainable innovation from the perspective of credit, interprets the formation mechanism of enterprise decision-making behavior on sustainable innovation, further opens the black box of relevant theories of enterprise innovation development, and helps enterprises to carry out sustainable innovation activities. Moreover, it further reveals that due to the heterogeneity of enterprise continuous innovation, enterprise credit portrait will be different, which to some extent improves the previous research on this aspect. #br#The research results of this paper also have certain guiding significance for practice. Enterprises should correctly understand the influence of the continuous innovation of the enterprise credit and grasp the innovation opportunities; at the same time they should pay attention to enterprise credit combined with continuous innovation advantages, and balance the relationship between the enterprise credit construction and continuous innovation. The government should strengthen credit environment construction, support enterprises to operate in good faith, use big data to form a market credit network and accurately build enterprise credit portrait, so as to promote enterprises to enhance credit awareness and guide enterprises to practice internal skills. Given the characteristics of ecological enterprises in the industry of environmental change, the sustainable innovation strategy of enterprises should be adjusted quickly and quickly, and the support for high-quality sustainable innovation of enterprises should be strengthened.#br#
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Received: 06 April 2021
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