The Effect Of R&D Performance In Different Stages Based On Technology Innovation Capability Life Circle

It is generally agreed in Dynamic Capability Theory that coorperate has to integrate, allocate, build and reconstruct its inner resource and capability, and make full use of their complementary coordinating role to achieve Schumpeterian rents. As an important innovation resource, R&D plays an important role on improving cooperate performance. However, as we know, because of the difference among their technology innovation capabilities, two companies, which invested the same R&D expenditure, have the discrepancy in R&D allocation efficiency, what will lead to different performance. Nowadays, many scholars study the mediation role of technological innovation ability between R&D and coorperate performance from static perspective rather than dynamic perspective. Therefore, in this paper, based on Life Circle Theory, considering technology innovation capability as dynamic capability, this study tried to clarify how coorperate allocates its R&D to obtain good outcome for achieving competitive advantage.Selected Hi-Tech listed companies as research objects from 2007 to 2013, firstly, this paper analyzed the lag effect of R&D on performance. For the continuous of R&D spending, the cumulative effect of R&D was further inspected. The characteristic of technological innovation ability is dynamic, cumulative and procedural.Combined dynamic capability theory with Life Circle Theory, this paper explained the relationship between R&D expenditure and firm performance in different circle of technology innovation capability. At last, it contrasted and analysed whether coorperate with different technological innovation ability in the same life circle stage has different R&D production efficiency.This study indicates that R&D actively promotes the enterprise performance. And there is an obvious lag between them, lag two phrase is the best. And then, it is found that Continuous R&D investment can bring good significants, as the time growing, this effect grows from increasing to decreasing. Moreover, this empirical study shows in the different technological innovation ability life circle stage, R&D has different impact on enterprise performance. Both in growing stage and mature stage, the impact is positive. But in declining stage, there is no significant influence. Furthermore, compared the growing stage and the mature stage, the outcome efficiency is better in the growing stage. Based on this, divide the two stages into three parts according to patent growth rate, and compare them pairwise. It can be seen that whenever in growing stage or in mature stage, the faster technological innovation ability grows, the better coorparates' outcome efficiency become. As to the companies in growing stage, whenever their technological innovation ability comes in any level, the more R&D inputs, the more outputs. But as to the companies in mature stage, there is no significant distinction between middle level and low level company. Hence, in the mature stage, for the high level company, once increasing the R&D investment, it will improve performance, but for the middle level and even low level companies, it is cautious to allocate R&D.