E3S Web Conf.
Volume 292, 20212021 2nd International Conference on New Energy Technology and Industrial Development (NETID 2021)
|Number of page(s)
|New Energy Economy and Energy Blockchain Application
|09 September 2021
Research on the impact of innovation input on enterprise performance in manufacturing enterprises--- Moderating effect based on governance structure
1 QianYu Zhao, Sichuan Agricultural University, 611130, Chengdu, China
2 Gang Fu, Sichuan Finance and Economics Vocational College, 611130, Chengdu, China
3 WanTing Liu, Sichuan Agricultural University, 611130, Chengdu, China
Manufacturing industry is the lifeblood of national economy, and innovation input is the lifeline of manufacturing enterprises. This paper selects the financial data of China’s listed manufacturing companies from 2015 to 2019 to study the moderating effect of governance structure on the relationship between innovation input and firm performance. It is found that innovation investment has a negative influence on firm performance with lag. In terms of ownership structure, ownership concentration has a negative moderating effect on the relationship between innovation input and firm performance. The degree of equity balance has a positive moderating effect on the relationship between innovation input and firm performance. According to the conclusion of this study, it is expected to optimize the governance structure of China’s manufacturing enterprises and promote industrial development.
© The Authors, published by EDP Sciences, 2021
This is an Open Access article distributed under the terms of the Creative Commons Attribution License 4.0, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
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