富则思安了吗？创新期望顺差、冗余资源与企业研发国际化

研发国际化在企业提升技术实力、创新绩效等方面发挥着举足轻重的作用。基于企业行为理论，探究了创新期望顺差、冗余资源两种“富有”状况对企业研发国际化决策的影响，以及企业政治关联和国际经验在其间的调节作用。利用2008~2016年中国A股上市公司的经验数据，究发现：创新期望顺差和冗余资源对企业研发国际化具有显著的正向影响；企业政治关联通过帮助企业获取更多的“走出去”优势，最终强化创新期望顺差和冗余资源对企业研发国际化的正向影响；企业国际经验则会通过帮助企业获取更多的“走进去”优势，最终强化创新期望顺差和冗余资源对企业研发国际化的正向影响。本研究不仅增强了企业行为理论对企业战略性决策的解释力，对企业更好地推进研发国际化也具有启示意义。

Wealth Accumulation Leads to Strategy Persistence？Innovation Aspiration Surplus，Organizational Slack，and R&D Internationalization

Based on the theory of enterprise behavior, this paper analyzed the impact of the two rich conditions, i.e., innovation aspiration surplus and organizational slack, on decision-making of R&D internationalization, and the moderating effect of political connections and international experience of enterprises. Based on the empirical data of China’s A-share listed companies from 2008 to 2016, it is found that innovation aspiration surplus and organizational slack have a significant positive impact on the research and development (R&D) internationalization of enterprises. In addition, political connections of enterprises help enterprises gain more “going out” advantages, and strengthen the positive impact of the two rich conditions on the R&D internationalization of enterprises. Moreover, the international experience of enterprises help enterprises gain more “going in” advantages, and ultimately strengthen the positive impact of innovation aspiration surplus and organizational slack on the R&D internationalization of enterprises. This paper not only strengthens the explanatory power of the enterprise behavior theory on the strategic decision-making of enterprises, but also has enlightenment for enterprises to better promote R&D internationalization.