دانلود رایگان مقاله ساختار قابلیت نوآوری نقش نوآوری در مدیریت ارشد و جهت گیری نسبی اکتشافی

abstract

Firms strive to develop innovation capabilities that help them achieve competitive advantage in the marketplace. This paper shows that managers can contribute to firms' innovation capabilities by involving themselves directly. Based on a unique multi-source (shareholder letters, COMPUSTAT, and World Bank Database) dataset covering 335 firms over nine years, empirical analysis reveals that top managers' innovativeness makes them more likely to adopt exploration orientation over exploitation orientation in innovation. This relative-exploration orientation is a key mediator that can transform top managers' innovativeness into better financial performance, and the effectiveness of this mediating role is contingent on a firm's resources and the industry environment.

5. Discussion

A comparison of our findings with those from the literature appears in Table 4. The findings of this study provide insights into how top management contributes to a firm's innovation processes, which ultimately improve financial performance. The first finding of this study is that top management innovativeness positively affects firms' financial performance. Hence, if a manager is more committed to innovation, the firm can financially benefit from the manager's efforts in innovative activities. This finding also provides an alternative explanation to that of Barker and Mueller (2002) and Knight et al. (1999) as to why certain managerial characteristics (e.g., younger or more industrial experience) can result in better financial performance. Our findings suggest that managers with these characteristics are more likely to develop innovativeness, which ultimately leads to a better financial outcome for the firm.