经济与管理2024，Vol.38Issue(5)：50-60,11.
同群效应下的企业创新决策:理性预期或参考点依赖
Research on Firm Innovation Decision under Peer Effect:Rational Expectations or Reference Point Dependence
巴曙松 1程远飞 2熊婉芳3
作者信息
- 1. 北京大学 汇丰金融研究院,广东 深圳 518055
- 2. 中国建设银行 平台运营中心,安徽 合肥 230001
- 3. 广东外语外贸大学 会计学院,广东 广州 510420
- 折叠
摘要
Abstract
Studying whether enterprises under peer effects tend to innovate actively or conservatively helps formulate relevant policies to stimulate corporate innovation vitality and optimize the group innovation environment.By combining theoretical models with empirical tests to study enterprise innovation decisions under peer effects,we find that such decisions exhibit reference point dependence.The further the distance between early-stage innovation investment and peer enterprises,the higher the enthusiasm for innovation within the enterprise;likewise,a greater difference in innovation success rates compared to peer enterprises leads to higher enthusiasm for innova-tion within the enterprise.As the difference in innovation success rates changes,there is a threshold effect on the impact of investment distance on enthusiasm for innovation.The robustness of these conclusions is demonstrated through instrumental variables,substitution variables,replacement of samples,and resampling of groups.Further analysis reveals that corporations exhibit stronger tendencies to-ward reference point dependence in groups with lower information quality and higher competition intensity.关键词
创新决策/同群效应/理性预期/参考点依赖Key words
innovation decision/peer effect/rational expectations/reference point dependence分类
管理科学引用本文复制引用
巴曙松,程远飞,熊婉芳..同群效应下的企业创新决策:理性预期或参考点依赖[J].经济与管理,2024,38(5):50-60,11.
