Political Connection,R&D And Performance Of Enterprise Innovation

At present,our country is in the key time of innovation strategy implementation and economic outcome,the studies which are about the influence between of political connection and companies' operating performance and financial performance are a lot.According to the Upper Echelons Theory,this paper will explore the relationship between senior executives political association and corporate innovation performance.At the same time,it is found that previous studies have most focused on the study of the relationship between political connection and enterprise performance.In this paper,take the research and development investment into the relationship between senior executives' political connection and corporate innovation performance research,to explore the mechanism of action in the three.Using the 2007-2014 annual data of A-shares listed Corporation,we make an empirical study to obtain the relevant empirical data.Firstly,this paper reviews the relevant literature from the background of the research,and retrospects the Resources Based Theory,the Upper Echelons Theory,and the Intermediary Theory.Secondly,it analyzes the development of high-tech industry in China from the aspects of the scale of output,the investment of R&D and the application of patent.Thirdly,establish regression models;collect the data of A-shares of the 2007-2014 data of China's high-tech industries.The generalized least square method is used to analyze the relationship in the political connection,R&D investment and innovation performance.Finally,draw conclusions,and put forward policy recommendations.The article draws the following conclusions: first,there is a negative correlation between the level of political association and corporate innovation performance.The more closely the management and the relationship between the government or government officials,the worse the innovation performance.Secondly,there is a negative correlation between the level of political association and the intensity of R&D investment.Enhance the level of political relevance of senior executives can bring external resources but can not be effectively transformed into R&D investment resources in the enterprise.the political relevance of the executives of the company has weakened the political thinking of innovation,reduce the intensity of R&D investment.Thirdly,there is a significant positive correlation between the enterprise R&D investment intensity and enterprise innovation performance.R&D investment is an essential input resource for enterprises to carry out innovation activities.The higher R&D investment intensity can promote the formation of R&D investment portfolio,which will help to construct the complementary asset structure to play a synergistic role,enhance the enterprise innovation performance.Fourth,R&D investment intensity has the intermediary effect between political association and the enterprise innovation performance.The political relation has an effect on the strategic choice of the resource allocation,and it also affects the allocation of innovation resources.The executives with the relationship of politics have different attitudes to the enterprise innovation strategy;therefore affect the allocation of innovation resources,which will affect the innovation performance of enterprises.This also shows the intermediary effect of R&D investment intensity in the two.Finally,according to the research conclusion,the paper puts forward policy suggestions from the perspective of the government using the political relevance to encourage enterprises' innovation.The paper puts forward the management inspiration from the perspective of the enterprise to avoid being over embedded,to realize the strategic synergy between the political strategy and the market strategy.