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| Multiple Institutional Logic, Firm Heterogeneity and Enterprise Innovation Performance : A Fuzzy Qualitative Comparative Analysis Based on 125 Listed New Energy Vehicle Firms |
| Zheng Ailin1,Lan Hailin1,2 |
| (1.School of Business Administration, South China University of Technology;2.China Enterprise Strategic Management Research Center, South China University of Technology, Guangzhou 510641, China) |
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Abstract The new energy vehicle industry has the potential to address concerns related to energy scarcity and environmental pollution. However, there are technological bottlenecks, such as insufficient battery life and long charging time, hindering its development. Enhancing innovation performance in new energy vehicle enterprises has become a key concern for various stakeholders. While existing research has examined the impact of factors at different levels, there is a need to further explore the combined effects of multiple factors.
The study aims to enhance the understanding of the intricate causal relationships among multiple factors that influence technological innovation performance in Chinese new energy vehicle enterprises. The study analyzes a sample of 125 companies listed in the A-share new energy vehicle sector from 2012 to 2019 according to the completeness and availability of data. It divides the technological innovation performance of new energy vehicle enterprises into two stages: the emerging stage (2012-2015) and the mature stage (2016-2019) based on the overall development level of new energy vehicles in China, with 2016 as the dividing line. The study organizes the data into a total of 500 observation points for 125 cases within each stage and averages the data in the two stages. Drawing on a framework that considers multiple institutional logics, enterprise heterogeneity, and innovation performance, the study analyzes the complex mechanisms that underlie these factors and explains the differences in technological innovation performance of new energy vehicle enterprises from a configuration perspective. The configuration perspective highlights the interplay of multiple factors in determining outcomes, considering causal asymmetry and configuration equivalence. This approach sheds light on the coupling effect among multiple factors and reveals the intricate causal relationships between antecedent conditions and outcome variables. In addition, the fsQCA method helps to overcome the limitations of causal symmetry and focus on the cross-case multiple concurrent causality and the equivalent substitution relationship among conditions. The fsQCA method is used to capture the comprehensive effects of multiple conditional variables rather than the net effect of a single variable. It helps to explore the idea that different paths lead to the same result and effectively avoids the problem of multicollinearity.
It is found that government subsidies, marketization level, cooperation intensity, corporate profits, equity structure, and R&D investment alone can not consist of necessary conditions for generating high technological innovation performance,while increasing government subsidies and R&D investment play a more general role in improving technological innovation performance, and the subsidy reduction policy has not achieved the desired effect. The study identifies five paths that can lead to high technological innovation performance of new energy vehicle enterprises. In the emerging stage (2012-2015), it includes innovation based on the trend driven by market logic and political logic, and innovation based on the situation driven by enterprise logic and political logic;in the mature stage (2016-2019), it includes the innovation based on the situation driven by political logic, the innovation based on the trend driven by enterprises' logic and political logic, the innovation based on the situation driven by political logic. These different paths represent multiple ways for enterprises to achieve high technological innovation performance, depending on their unique circumstances and strategies. Then it identifies four paths that can lead to non-high technological innovation performance in the two stages, indicating that the generation of non-high technological innovation performance also has multiple equivalent antecedent combinations. Non-high R&D investment is a necessary condition for non-high technological innovation performance, and the path for generating high technological innovation performance is asymmetric.
The findings reveal several viable paths for new energy vehicle enterprises to achieve high technological innovation performance, thereby contributing to the current research on this topic. The use of time series data in QCA analysis expands the research scope of this method and enhances its explanatory power in the context of technological innovation performance of new energy vehicle enterprises, which is constantly evolving. The findings offer valuable insights for both the government and enterprises to accelerate the development of new energy vehicle technology breakthroughs.
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Received: 14 March 2023
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