Research On The Effect Of Innovation Orientation On Corporate Growth Performance

In recent years,innovation has always been hot topic of the whole society,especially when China is adopting the strategy of innovation-driven development,both entrepreneurs and scholars pay much attention to innovation.As a strategic orientation that reflects the extent to which firms are committed to innovating,innovation orientation has been identified as the source of superior performance.Financial performance and growth performance are two key parts of corporate performance,and current research mainly focuses on the relevance of innovation orientation and financial performance,but few studies discuss the mechanism about impact of innovation orientation on growth performance.In addition,environmental orientation and social orientation are both important factors influencing corporate performance.Given the fact that firms need to pool resources when carrying out innovation activities,engaging in environmental protection,and taking social responsibility,so it's necessary for firms to choose proper strategic orientation in the condition of limited resources.Under the research background,this paper attempts to analyze the relationship between innovation orientation and growth performance,as well as moderating effects of environmental orientation and social orientation.This paper conducts a comprehensive review on literatures related to innovation orientation,environmental orientation,social orientation and growth performance.Besides,theoretical bases such as organizational ambidexterity theory,stakeholder theory are also introduced.Based on literature review and theoretical background,potential relationship between innovation orientation and growth performance,as well as moderating effects from environmental orientation and social orientation on this relationship are analyzed.Subsequently,hypotheses corresponded to above analyses are proposed,and research model is constructed.Based on data of 134 manufacturing enterprises from Jilin Province and Hubei Province,reliability analysis and factor analysis methods are used to test innovation orientation and other concepts.The results of statistical test support that corresponding measures can be used as reliable and valid measure indicators.Then,by using correlation analysis and linear regression analysis method,this paper test hypotheses above,and empirical results are as follows: Firstly,innovation orientation has positive effect on growth performance.Secondly,environmental orientation has no moderating effects between innovation orientation and growth performance.Thirdly,social orientation plays positive moderating role between innovation orientation and growth performance.According to research conclusions,this paper puts forward managerial implications.On the one hand,for the sake of long-term development,firms should implement innovation orientation actively,and combine innovation orientation with social orientation so as to play the better effect.On the other hand,firms are supposed to consider whether carrying out innovation orientation and environmental orientation at the same time according to environmental uncertainty and other factors.Innovations of this paper includes that growth performance is selected as dependent variable which innovation orientation impacts on,and moderating effects from environmental orientation and social orientation are empirically researched for the first time.