Supplier-base concentration as a moderating variable in the non-linear relationship between R&D and firm value
- Authors
- Liu, Feng; Kim, Byung Cho; Park, Kwangtae
- Issue Date
- 2022
- Publisher
- ROUTLEDGE JOURNALS, TAYLOR & FRANCIS LTD
- Keywords
- R& amp; D investment; supplier-base concentration; firm value; Tobin& #8217; s q; non-linear relationship; social network; buyer-supplier relationship
- Citation
- ASIAN JOURNAL OF TECHNOLOGY INNOVATION, v.30, no.2, pp.342 - 363
- Indexed
- SSCI
SCOPUS
KCI
OTHER
- Journal Title
- ASIAN JOURNAL OF TECHNOLOGY INNOVATION
- Volume
- 30
- Number
- 2
- Start Page
- 342
- End Page
- 363
- URI
- https://scholar.korea.ac.kr/handle/2021.sw.korea/138473
- DOI
- 10.1080/19761597.2020.1853576
- ISSN
- 1976-1597
- Abstract
- Despite the important role of suppliers in R&D activity, the supply chain relationships involved in R&D value creation have been under-investigated in previous research. Supplier involvement in R&D necessitates a model that examines how the buyer-supplier relationship influences the relationship between R&D investment and a company's market value. With a large-scale sample of 4,704 firm-year observations within the Chinese manufacturing sector, this study investigates the relationships among R&D investment, supplier-base concentration, and firm value. The results indicate that there is a non-linear, inverted U-shaped relationship between R&D intensity and Tobin's q, with the specific shape of this relationship dependent on supplier-base concentration. By highlighting the moderating effect of supplier-base concentration on the curvilinear relationship between R&D investment and firm value, this study contributes to the existing literature on technology, innovation, and supply chain management by shedding new light on value creation achieved through the interface between R&D and supply chains in the context of emerging markets. Our findings emphasise the importance of supplier relationship management to ensure successful R&D value creation activity in the manufacturing sector.
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Collections - Korea University Business School > Department of Business Administration > 1. Journal Articles
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