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Peer effect of enterprise innovation: Empirical evidence from China

Innovation investment is crucial to enterprise development and economic growth. As peer enterprises face similar market environment and development prospects, they pay attention to the innovation activities of peer enterprises in the industry because of economic rationality or the idea of seeking ad...

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Detalles Bibliográficos
Autores principales: Liu, Li, Yang, Jiguo, Zheng, Minna, Jin, Linlin
Formato: Online Artículo Texto
Lenguaje:English
Publicado: Frontiers Media S.A. 2022
Materias:
Acceso en línea:https://www.ncbi.nlm.nih.gov/pmc/articles/PMC9642079/
https://www.ncbi.nlm.nih.gov/pubmed/36389507
http://dx.doi.org/10.3389/fpsyg.2022.921127
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author Liu, Li
Yang, Jiguo
Zheng, Minna
Jin, Linlin
author_facet Liu, Li
Yang, Jiguo
Zheng, Minna
Jin, Linlin
author_sort Liu, Li
collection PubMed
description Innovation investment is crucial to enterprise development and economic growth. As peer enterprises face similar market environment and development prospects, they pay attention to the innovation activities of peer enterprises in the industry because of economic rationality or the idea of seeking advantages and avoiding disadvantages. This paper aims to investigate the interaction and channel of enterprise innovation behavior of peer effect based on the data of Chinese share-listed enterprises from 2010 to 2021. The results show that peer effect exists in the innovation behavior of enterprises. We also provide evidence that managerial ability is the mechanism of the peer effect of enterprise innovation. In addition, we find that small-scale enterprises are more likely to be affected by the innovation behavior of peer enterprises compared with large enterprises. More importantly, we reveal that economic policy uncertainty significantly negatively regulates the peer effect of enterprise innovation. JEL CLASSIFICATION: G30, G31, O31
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spelling pubmed-96420792022-11-15 Peer effect of enterprise innovation: Empirical evidence from China Liu, Li Yang, Jiguo Zheng, Minna Jin, Linlin Front Psychol Psychology Innovation investment is crucial to enterprise development and economic growth. As peer enterprises face similar market environment and development prospects, they pay attention to the innovation activities of peer enterprises in the industry because of economic rationality or the idea of seeking advantages and avoiding disadvantages. This paper aims to investigate the interaction and channel of enterprise innovation behavior of peer effect based on the data of Chinese share-listed enterprises from 2010 to 2021. The results show that peer effect exists in the innovation behavior of enterprises. We also provide evidence that managerial ability is the mechanism of the peer effect of enterprise innovation. In addition, we find that small-scale enterprises are more likely to be affected by the innovation behavior of peer enterprises compared with large enterprises. More importantly, we reveal that economic policy uncertainty significantly negatively regulates the peer effect of enterprise innovation. JEL CLASSIFICATION: G30, G31, O31 Frontiers Media S.A. 2022-10-25 /pmc/articles/PMC9642079/ /pubmed/36389507 http://dx.doi.org/10.3389/fpsyg.2022.921127 Text en Copyright © 2022 Liu, Yang, Zheng and Jin. https://creativecommons.org/licenses/by/4.0/This is an open-access article distributed under the terms of the Creative Commons Attribution License (CC BY). The use, distribution or reproduction in other forums is permitted, provided the original author(s) and the copyright owner(s) are credited and that the original publication in this journal is cited, in accordance with accepted academic practice. No use, distribution or reproduction is permitted which does not comply with these terms.
spellingShingle Psychology
Liu, Li
Yang, Jiguo
Zheng, Minna
Jin, Linlin
Peer effect of enterprise innovation: Empirical evidence from China
title Peer effect of enterprise innovation: Empirical evidence from China
title_full Peer effect of enterprise innovation: Empirical evidence from China
title_fullStr Peer effect of enterprise innovation: Empirical evidence from China
title_full_unstemmed Peer effect of enterprise innovation: Empirical evidence from China
title_short Peer effect of enterprise innovation: Empirical evidence from China
title_sort peer effect of enterprise innovation: empirical evidence from china
topic Psychology
url https://www.ncbi.nlm.nih.gov/pmc/articles/PMC9642079/
https://www.ncbi.nlm.nih.gov/pubmed/36389507
http://dx.doi.org/10.3389/fpsyg.2022.921127
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