Research on Enterprise Technology Investment Strategy Choice under the Perspective of Dynamic Competition

Abstract

Abstract:

Developing an enterprise's technology investment strategy is not just to statically select internal strategies, but should focus more on external dynamic market power and multi-dimensional competition framework. Based on the panel data of 38 high-tech enterprises from 2010 to 2016, this paper analyzes the core topic of enterprise technology investment strategy choice under the perspective of dynamic competition. The research result shows that:(1) under the situation of uncertain technology, the market commonality has obvious influence on enterprise technology investment strategy; (2) the higher the resource similarity between enterprises is, the larger possibility they will adopt similar strategy in technology investment strategy choice; and (3) the threat awareness of enterprises on behaviors of competitors is different. The enterprises with high environmental threat awareness may instantly make corresponding adjustment to their technology investment strategy when their competitors take certain actions.

Key words: dynamic competition, market commonality, resource similarity, technology investment strategy

Feng Liwei, Li Yinlong, Zhao Jinghua. Research on Enterprise Technology Investment Strategy Choice under the Perspective of Dynamic Competition[J]. , 2019, 31(5): 109-117,127.

References

[1] 刘卫柏,李中. 企业突破性技术创新投资决策的期权博弈模型[J]. 管理评论, 2016,28(4):89-97
[2] 李寅龙,肖海林,付桂军. 通信企业利润变化的驱动因素分析--基于华为公司的纵向案例研究[J]. 管理评论, 2016,28(9):260-272
[3] Schilling M. A., Vidal P., Ployhart R. E., et al. Learning by Doing Something Else:Variation, Relatedness, and the Learning Curve[J]. Management Science, 2003,49(1):39-56
[4] 王亮亮,王跃堂. 企业研发投入与资本结构选择--基于非债务税盾视角的分析[J]. 中国工业经济, 2015,(11):125-140
[5] Toh P. K., Kim T. Why Put All Your Eggs in One Basket? A Competition-Based View of How Technological Uncertainty Affects a Firm's Technological Specialization[J]. Organization Science, 2013,24(4):1214-1236
[6] Eggers J. P. Falling Flat:Failed Technologies and Investment under Uncertainty[J]. Administrative Science Quarterly, 2012,57(1):47-80
[7] Lahr H., Mina A. Venture Capital Investments and the Technological Performance of Portfolio Firms[J]. Research Policy, 2017,45(1):303-318
[8] Barney J. B. Strategic Factor Markets:Expectations, Luck, and Business Strategy[J]. Management Science, 1986,32(10):1231-1241
[9] Porter M. Competitive Advantage:Creating and Sustaining Superior Performance[M]. NewYork:The Free Press, 1985
[10] Chen M. J. Competitor Analysis and Interfirm Rivalry:Toward a Theoretical Integration[J]. Academy of Management Review, 1996,21(1):100-134
[11] Wernerfelt B. A Resource Based View of the Firm[J]. Strategic Management Journal, 1984,5(2):171-180
[12] Chen M. J., Miller D. Competitive Dynamics:Themes, Trends, and a Prospective Research Platform[J]. The Academy of Management Annals, 2012,6(1):135-210
[13] Agarwal R., Gort M. The Evolution of Markets and Entry, Exit and Survival of Firms[J]. Review of Economics & Statistics, 1996,78(3):489-498
[14] Anderson P., Tushman M. L. Technological Discontinuities and Dominant Designs:A Cyclical Model of Technological Change[J]. Administrative Science Quarterly, 1990,35(4):604-633
[15] Klepper S., Simons K. L. The Making of an Oligopoly:Firm Survival and Technological Change in the Evolution of the U.S. Tire Industry[J]. Journal of Political Economy, 2000,108(4):728-760
[16] Kishna M., Negro S., Alkemade F., et al. Innovation at the End of the Life Cycle:Discontinuous Innovation Strategies by Incumbents[J]. Industry & Innovation, 2017,24(3):1-17
[17] Utterback J. M., Suárez F. F. Innovation, Competition, and Industry Structure[J]. Research Policy, 1993,22(1):1-21
[18] Bayus B. L., Agarwal R. The Role of Pre-Entry Experience, Entry Timing, and Product Technology Strategies in Explaining Firm Survival[J]. Management Science, 2007,53(12):1887-1902
[19] Carmody L. E., Clayton M. C., Michael B. H., et al. Disrupting Class:How Disruptive Innovation Will Change the Way the World Learns[J]. Educational Technology Research & Development, 2009,57(2):267-269
[20] Eggers J. P. Competing Technologies and Industry Evolution:The Benefits of Making Mistakes in the Flat Panel Display Industry[J]. Strategic Management Journal, 2014,35(2):159-178
[21] Hitt M. A., Freeman R. E., Harrison J. S. The Blackwell Handbook of Strategic Management[J]. Long Range Planning, 2006,36(3):35-69
[22] Fontana R. Competing Technologies and Market Dominance:Standard "Battles" in the Local Area Networking Industry[J]. Industrial & Corporate Change, 2009,17(6):1205-1238
[23] Hekkert M., Hoed R. V. D. Competing Technologies and the Struggle towards a New Dominant Design:The Emergence of the Hybrid Vehicle at the Expense of the Fuel Cell Vehicle[J]. Greener Management International, 2004,47(10):28-43
[24] Tripsas M., Gavetti G. Capabilities, Cognition, and Inertia:Evidence from Digital Imaging[J]. Strategic Management Journal, 2000,21(10/11):1147-1161
[25] Bettis R. A., Prahalad C. K. The Dominant Logic:Retrospective and Extension[J]. Strategic Management Journal, 2010,16(1):5-14
[26] Dutton J. E., Jackson S. E. Categorizing Strategic Issues:Links to Organizational Action[J]. Academy of Management Review, 1987,12(1):76-90
[27] 孙晓华. 加价能力、行业结构与企业研发投资--市场势力与技术创新关系的再检验[J]. 科研管理, 2018,39(6):140-149
[28] Bagnoli M., Watts S. G. Voluntary Assurance of Voluntary CSR Disclosure[J]. Journal of Economics & Management Strategy, 2017,26(1):1-34
[29] García-Pérez A. M. I. Perceived Environmental Uncertainty and Strategic Alliances in Small and Medium-sized Enterprises[J]. International Journal of Entrepreneurship & Small Business, 2012,17(3):355-377
[30] López-Gamero M. D., Molina-Azorín J. F., Claver-Cortés E. Environmental Uncertainty and Environmental Management Perception:A Multiple Case Study[J]. Journal of Business Research, 2011,64(4):427-435
[31] 白景坤,王健. 环境威胁与创业导向视角下的组织惰性克服研究[J]. 中国软科学, 2016,(9):180-192
[32] Gilbert C. G. Unbundling the Structure of Inertia:Resource Versus Routine Rigidity[J]. Academy of Management Journal, 2005,48(5):741-763
[33] George E., Chattopadhyay P., Sitkin S. B., et al. Cognitive Underpinnings of Institutional Persistence and Change:A Framing Perspective[J]. Social Science Electronic Publishing, 2006,31(2):347-365
[34] Voss G. B., Sirdeshmukh D., Voss Z. G. The Effects of Slack Resources and Environmental Threat on Product Exploration and Exploitation[J]. Academy of Management Journal, 2008,51(1):147-164
[35] Chattopadhyay P., Glick W. H., Huber G. P. Organizational Actions in Response to Threats and Opportunities[J]. Academy of Management Journal, 2001,44(5):937-955
[36] Guo C. Middle Managers Strategic Role in the Corporate Entrepreneurial Process:Attention-based Affects[J]. Journal of Management, 2011,37(6):1586-1610
[37] Fuentelsaz L., Gómez J. Multipoint Competition, Strategic Similarity and Entry into Geographic Markets[J]. Strategic Management Journal, 2006,27(5):477-499
[38] Kretschmer T. Splintering and Inertia in Network Industries[J]. Journal of Industrial Economics, 2008,56(4):685-706
[39] Chen Y. S. The Positive Effects of Patent Performance, R&D Capability, and Employee Productivity on Firm Performance[C]. Picmet 11:Technology Management in the Energy Smart World. IEEE, 2011
[40] Agarwal R., Sarkar M. B., Echambadi R. The Conditioning Effect of Time on Firm Survival:An Industry Life Cycle Approach[J]. Academy of Management Journal, 2002,45(5):971-994
[41] 杜龙政,林润辉. 对外直接投资、逆向技术溢出与省域创新能力--基于中国省际面板数据的门槛回归分析[J]. 中国软科学, 2018,(1):149-162
[42] Eggers J. P. All Experience Is Not Created Equal:Learning, Adapting, and Focusing in Product Portfolio Management[J]. Strategic Management Journal, 2012,33(3):315-335
[43] Plambeck N., Weber K. CEO Ambivalence and Responses to Strategic Issues[J]. Organization Science, 2009,20(6):993-1010