Hits:

Indexed by:Journal Papers

Date of Publication:2019-09-12

Journal:MANAGEMENT DECISION

Included Journals:SSCI

Volume:57

Issue:8,SI

Page Number:1839-1856

ISSN No.:0025-1747

Key Words:Moderating effect; Corporate performance; Basic research investment; Human capital structure

Abstract:Purpose The purpose of this paper is to add to the existing research about how corporate performance is influenced by their basic research (BR) investment. On this basis, the authors examined the moderating effect of human capital structure (HCS) on the relationship between BR investment and corporate performance. Design/methodology/approach Hypotheses were tested using static and dynamic models to analyze a large-scale data of Chinese A-share listed companies. Findings This study provides empirical evidence that contributes to the research about how private BR investment influences corporate performance in the digital age. In addition, human resource is an important dynamic ability for enterprise development. Based on the dynamic capability theory, further research finds that the human resources practice on the knowledge stock can enhance the company's dynamic capability, thereby enhancing the company's core competitiveness.
   Originality/value This research contributes to the enterprise's BR investment and the management of human capital resource. It points that the investment of BR positively influences the corporate performance. In addition, the increasing of high-skilled labor's proportion positively promotes the promotion of BR investment on corporate performance.