Research On The Relationship Between Slack Resources And R&D Innovation In The Context Of Science And Technology Crackdown

Between 2015 and 2020,the number of high-tech enterprises in China grew rapidly from over 100,000 to nearly 270,000.Along with this growth,the number of patent applications by these enterprises has also continued to increase by double digits.High-tech enterprises are gradually becoming the main force and pioneer of technological innovation in China.However,it is undeniable that these enterprises face problems such as late development start,poor independent capabilities,and high external dependence.In recent years,Western countries led by the United States have been restricting China’s economic development in order to maintain their own voice in international affairs.They have been continuously blocking and suppressing Chinese high-tech enterprises in areas such as mobile phone chips and high-end medical technology.The technology blockades have forced China’s high-tech enterprises to continuously enhance their independent innovation capabilities.But sustained research and development innovation requires continuous expenditure of enterprise resources.Where do these resources come from?Slack resources,as an important type of resources for firms,play a critical role in promoting R&D innovation.However,at present,the academic community has not formed a consistent conclusion on the efficacy of slack resources on R&D innovation.Is it true,as some scholars have argued,that the effectiveness of different slack resources is influenced by changes in the organizational context? Based on this,this paper chooses the US-China technology crackdown as a research background to further explore and deepen the understanding of the determinants of slack resource efficacy.This paper examines the relationship between slack resources and R&D innovation under the background of science and technology crackdown using a sample of 2,799 Chinese hightech enterprises from 2015 to 2020.Panel Poisson regression is employed to estimate the effects of different types of slack resources and their configurations on R&D innovation.Furthermore,this paper investigates the moderating effects of corporate governance,financing constraints,and labor market competition on the relationship between slack resources and R&D innovation.The results suggest that under the background of science and technology crackdown,the positive effect of financial slack on R&D innovation is weakened,while the positive effect of human resource slack is significantly enhanced.The configuration of financial and human resource slack can significantly improve R&D innovation.In addition,corporate governance negatively moderates the relationship between financial and human resource slack and R&D innovation.Financing constraints significantly strengthen the relationship between financial slack and R&D innovation.Labor market competition significantly enhances the relationship between human resource slack and R&D innovation.This paper’s research findings not only expand the contextual study of slack resources,deepen the understanding of the relationship between slack resources and R&D innovation,but also explore the strategic interaction and coordination among different slack resources,and open up the strategic coordination perspective of slack resources.Finally,the research conclusions of this paper have important reference value for high-tech enterprises to promote R&D innovation practice in the current situation.Having a certain level of slack resources,especially human slack resources,is the key for enterprises to withstand the impact of science and technology crackdown.Meanwhile,companies should optimize the configuration of slack resources,focus on the conversion ability and complementary effects among different slack resources,and enhance their R&D innovation capabilities.