Research on the Influencing Factors and Mechanism of Enterprises' Technological Innovation Capability under Multi-layer Network—Exemplified by Listed Companies in China's Semiconductor Industry

Abstract

Abstract: This paper studies the factors that influence enterprises’ technological innovation capability by integrating the three key links of basic research, application research, and production research in the whole chain of technological innovation, building a multi-level cooperative innovation network of “knowledge-technology-production” among enterprises, and considering the interaction of multiple relationships within and between layers. Based on the empirical study of the listed companies in China’s semiconductor industry with the negative binomial model, we reach the following conclusions. First, the relationship between PageRank centrality and enterprises’ technological innovation capability takes on an inverted U shape. Structural holes, breadth and strength of relationships, and level of network embedding are positively correlated with enterprises’ technological innovation capability. Second, the absorptive capacity of enterprises and network density play a mediating and moderating role in the above relationship, respectively. Third, the product complexity index can accurately represent the technological innovation capability of enterprises. Fourth, the locking effect, internal and external linkage dual circulation effect, and interactive connectivity effect formed among the influencing factors jointly affect the technological innovation ability of enterprises. This study provides decision-making support for improving the technological innovation capabilities of enterprises in the semiconductor industry.

Key words: multilayer network, technological innovation capability, semiconductor, multi-source heterogeneous data, R&D cooperation

He Xijun, Dong Ying, Wu Yuying, Yang Juan. Research on the Influencing Factors and Mechanism of Enterprises' Technological Innovation Capability under Multi-layer Network—Exemplified by Listed Companies in China's Semiconductor Industry[J]. Management Review, 2025, 37(4): 98-112.

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