Configurations of Ambidextrous Innovation and Its Performance Implication in the Context of Digital Transformation
Abstract
:1. Introduction
2. Theoretical Background and Hypotheses
2.1. Organizational Ambidexterity and Configuration Strategies
2.2. Configuration Strategies and Firm Performance
2.2.1. Dual Exploration and Business Model Leveraging Strategy
2.2.2. Dual Exploitation and Technology Leveraging Strategy
2.3. The Moderating Role of Digitalization
3. Research Method
3.1. Research Setting and Data Collection
- ①
- Excluding ST, *ST, and other specified firms.
- ②
- Using technological innovation variables as the standard to delete firms with missing data and abnormal numerical values. These firms have not disclosed research and development investment capitalization, expense amount, research and development expenses, or digital information that cannot be crawled.
- ③
- Deleting firms with industry codes D, F, H, J, K, and L (sustainable operation even if not engaged in innovation activities).
3.2. Measures
3.2.1. Firm Performance
3.2.2. Technological Innovation
3.2.3. Business Model Innovation
3.2.4. Digitalization
3.2.5. Control Variables
3.3. Model Design
+ β8RTIi,t−1 + β9TTIi,t−1 + β10RBMIi,t−1 + β11TBMIi,t−1 + εi,t
+ β8RTIi,t−1 + β9TTIi,t−1 + β10RBMIi,t−1 + β11TBMIi,t−1 + β12TLi,t−1 + β13BLi,t−1
+ β14DRi,t−1 + β15DTi,t−1 + εi,t
+ β8RTIi,t−1 + β9TTIi,t−1 + β10RBMIi,t−1 + β11TBMIi,t−1 + β12TLi,t−1 + β13BLi,t−1
+ β14DRi,t−1 + β15DTi,t−1 + εi,t
+ β8RTIi,t−1 + β9TTIi,t−1 + β10RBMIi,t−1 + β11TBMIi,t−1 + β12TLi,t−1 + β13BLi,t−1
+ β14DRi,t−1 + β15DTi,t−1 + εi,t
4. Analyses and Results
4.1. Statistical Description and Correlation Analysis
4.2. Hypotheses Testing
4.3. Robustness Tests
5. Discussion
5.1. Research Finding
5.2. Theoretical Implications
5.3. Practical Implications
5.4. Limitations and Research Directions
6. Conclusions
Author Contributions
Funding
Institutional Review Board Statement
Informed Consent Statement
Data Availability Statement
Acknowledgments
Conflicts of Interest
References
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Strategy | Configuration | Connotation |
---|---|---|
Technology leveraging | Exploitative technological innovation × Exploratory business model innovation | Through the use and improvement of existing technical capabilities, explore new ways of value creation, including markets, channels, etc. |
Business model leveraging | Exploratory technological innovation × Exploitative business model innovation | Develop new technical capabilities for the improvement of existing strategic models, operating models, and profit models. |
Dual exploration | Exploratory technological innovation × Exploratory business model innovation | Focus on the development of new technical capabilities and new strategies, markets, channels, etc., in the technology and business model are big changes. |
Dual exploitation | Exploitative technological innovation × Exploitative business model innovation | Focus on the application of existing technical capabilities and business models and adopt robust strategies in both technology and business models. |
Score | Example of Evaluation Criteria |
---|---|
0 | No description |
1 | While maintaining steady growth in the fire and rescue vehicle business, we will focus on developing the market for elevated vehicles and actively deploying a new strategic model with dual dimensions of product lines and regional coverage. |
2 | According to strategic planning, the company has successively established new business sectors such as the PPP business unit, rail transit operation company, design company, leasing company, education company, etc. The total investment for the year exceeded 30 million yuan, bringing new profit growth points to the company. The new business model of rail transit operation and maintenance services has achieved significant breakthroughs. |
Score | Example of Evaluation Criteria |
---|---|
0 | No description |
1 | The company strives to resolve the problems in the group’s industrial structure through adjustments to its operational model and changes in resource allocation methods. |
2 | The company is actively promoting the transformation of its strategic model, seizing the golden window period of strategic upgrading and leading development in the operation and maintenance business. It focuses on three major directions: intelligent robots, data and network technology, and intelligent operation and maintenance systems. Through measures such as strengthening marketing system construction and market investment, improving operational capabilities, etc., the company actively promotes the landing of intelligent equipment and whole line operation and maintenance business and builds the first brand of China’s rail transit operation and maintenance. |
Variable | Symbol | Measurement |
---|---|---|
Firm size | SIZE | Ln (total assets at the beginning of the year) |
Firm age | AGE | Ln (establishment year + 1) |
Asset-liability ratio | LEV | Total liabilities/total assets at the beginning of the year |
Property right | PR | Dummy variable, state-owned firms are 1, others are 0 |
Firm growth | GR | Tobin’s Q of firms |
Liquidity capital flows | LCF | Cash ratio |
Industry type | IND | Dummy variable, refer to the classification standard of the CSRC in 2012. 1 if the firm’s industry is high-tech, 0 otherwise |
Firm performance | ROA | Net profit/average balance of total assets |
Exploratory technological innovation | RTI | The amount of research and development investment expensed/total assets at the beginning of the year |
Exploitative technological innovation | TTI | The amount of research and development investment capitalization/total assets at the beginning of the year |
Exploratory business model innovation | RBMI | Text analysis assignment |
Exploitative business model innovation | TBMI | Text analysis assignment |
Digitalization | DI | Using Python crawler technology to group the frequency of digitized keywords |
Technology leveraging | TL | Interaction term, exploitative technological innovation × Exploratory business model innovation |
Business model leveraging | BL | Interaction term, exploratory technological innovation × Exploitative business model innovation |
Dual exploration | DR | Interaction term, exploratory technological innovation × Exploratory business model innovation |
Dual exploitation | DT | Interaction term, exploitative technological innovation × Exploitative business model innovation |
Variable | N | Mean | SD | Min | Max | Skewness | Kurtosis |
---|---|---|---|---|---|---|---|
ROA | 1226 | 0.0316 | 0.0824 | −0.7436 | 0.3827 | −0.760 | 1.171 |
LEV | 1226 | 0.4325 | 0.1838 | 0.0336 | 1.3976 | 0.139 | −0.201 |
SIZE | 1226 | 22.4501 | 1.2421 | 19.2070 | 27.3861 | 0.652 | 0.615 |
AGE | 1226 | 2.9743 | 0.2634 | 2.0794 | 3.7377 | −0.262 | −0.193 |
PR | 1226 | 0.3100 | 0.4620 | 0.0000 | 1.0000 | 0.831 | −1.311 |
GR | 1226 | 1.9205 | 1.2686 | 0.8009 | 16.4046 | 1.228 | 2.395 |
LCF | 1226 | 0.5503 | 0.9873 | 0.0029 | 18.1106 | −0.017 | 1.091 |
IND | 1226 | 0.6525 | 0.4764 | 0.0000 | 1.0000 | −0.641 | −1.591 |
RTI | 1226 | 0.0206 | 0.0203 | 0.0000 | 0.1723 | −1.412 | 2.465 |
TTI | 1226 | 0.0085 | 0.0119 | −0.0042 | 0.1033 | −0.528 | −0.185 |
RBMI | 1226 | 0.9900 | 0.7140 | 0.0000 | 2.0000 | −0.068 | −1.439 |
TBMI | 1226 | 1.0400 | 0.8010 | 0.0000 | 2.0000 | 0.017 | −1.034 |
DI | 1226 | 0.4700 | 0.4430 | 0.0000 | 1.0000 | 0.948 | −0.904 |
DI (original) | 1226 | 4.0500 | 4.4840 | 0.0000 | 50.0000 | 1.014 | 2.917 |
DI (high) | 576 | 7.1300 | 6.9210 | 5.0000 | 50.0000 | 0.135 | 2.273 |
DI (low) | 650 | 1.3200 | 1.3006 | 0.0000 | 4.0000 | 0.575 | −0.948 |
Variable | ROA | LEV | SIZE | AGE | PR | GR | LCF | TTI | RTI | TBMI | RBMI | DI |
---|---|---|---|---|---|---|---|---|---|---|---|---|
ROA | 1.000 | |||||||||||
LEV | −0.3653 *** | 1.0000 | ||||||||||
SIZE | −0.0270 + | 0.5063 *** | 1.0000 | |||||||||
AGE | 0.0480 + | 0.0499 + | 0.1339 *** | 1.0000 | ||||||||
PR | 0.0200 | 0.2000 *** | 0.3413 *** | 0.2360 *** | 1.0000 | |||||||
GR | 0.1991 *** | −0.3223 *** | −0.3421 *** | −0.0137 | −0.1874 *** | 1.0000 | ||||||
LCF | 0.1135 *** | −0.4397 *** | −0.2213 *** | 0.0441 | −0.0182 | 0.2205 *** | 1 | |||||
TTI | 0.1460 ** | −0.0104 | −0.0424 | −0.0622 ** | −0.0851 ** | 0.1390 *** | 0.0096 | 1.0000 | ||||
RTI | 0.0822 *** | −0.0897 ** | −0.1530 *** | −0.0273 | −0.0978 *** | 0.2894 *** | 0.0393 | 0.0941 *** | 1.0000 | |||
TBMI | 0.3574 *** | −0.1463 *** | 0.0247 | −0.0731 ** | −0.0114 | 0.0349 | 0.1122 *** | −0.0202 | −0.0516 + | 1.0000 | ||
RBMI | 0.2704 *** | −0.1708 *** | −0.0585 * | −0.0524 + | −0.0785 ** | 0.1684 *** | 0.0737 ** | 0.1264 *** | 0.1509 *** | 0.1021 *** | 1.0000 | |
DI | 0.2288 * | 0.1373 *** | 0.1479 *** | −0.0336 | −0.1114 *** | −0.0540 + | −0.0593 ** | 0.0619 * | 0.0054 | 0.0035 | 0.0068 | 1.0000 |
Variable | Model 1 | Model 2 | Model 3 | Model 4 (High) | Model 5 (Low) |
---|---|---|---|---|---|
LEV | −0.569 *** | −0.574 *** | −0.563 *** | −0.816 *** | −0.576 *** |
(−11.93) | (−12.43) | (−12.32) | (−6.20) | (−9.95) | |
SIZE | −0.009 | 0.002 | −0.001 | −0.034 | 0.021 |
(−0.73) | (0.19) | (−0.03) | (−1.20) | (1.33) | |
AGE | −0.128 + | −0.073 | −0.053 | 0.224 | −0.148 |
(−1.87) | (−0.88) | (−0.65) | (1.18) | (−1.47) | |
PR | control | control | control | control | control |
IND | control | control | control | control | control |
GR | −0.003 | −0.006 + | −0.007 + | −0.014 | −0.06 |
(−0.86) | (−1.66) | (−1.85) | (−1.57) | (−1.42) | |
LCF | −0.020 *** | −0.020 *** | −0.019 *** | −0.030 | −0.022 *** |
(−3.40) | (−3.48) | (−3.36) | (−1.17) | (−3.57) | |
TTI | 0.085 * | 0.077 + | 0.078 | 0.104 * | |
(2.23) | (1.93) | (0.82) | (2.06) | ||
RTI | 0.106 ** | 0.078 * | 0.028 | 0.097 * | |
(2.79) | (2.04) | (0.32) | (2.07) | ||
TBMI | 0.041 *** | 0.042 *** | 0.045 *** | 0.037 *** | |
(6.16) | (6.33) | (3.44) | (4.27) | ||
RBMI | 0.014 + | 0.014 + | 0.018 | 0.017 | |
(1.79) | (1.72) | (0.99) | (1.61) | ||
DR | 0.136 * | 0.362 * | 0.106 | ||
(2.22) | (2.36) | (1.43) | |||
BL | −0.109 * | −0.046 | −0.113 + | ||
(−1.99) | (−0.37) | (−1.69) | |||
TL | 0.164 * | 0.180 | 0.210 * | ||
(2.14) | (1.20) | (2.10) | |||
DT | −0.127 * | −0.293 * | −0.138 + | ||
(−2.21) | (−2.07) | (−1.70) | |||
N | 613 | 613 | 613 | 288 | 325 |
R2 | 0.224 | 0.289 | 0.319 | 0.451 | 0.331 |
A-R2 | 0.221 | 0.284 | 0.311 | 0.424 | 0.331 |
F | 35.19 *** | 27.25 *** | 18.69 *** | 5.86 *** | 12.57 *** |
Hausman | 92.61 *** | 101.01 *** | 100.34 *** | 48.10 *** | 76.34 *** |
Fisher’s Permutation | b0–b1 | N | Empirical p-Value |
---|---|---|---|
DR | −0.256 | Bootstrap (1000) | 0.014 |
BT | −0.067 | Bootstrap (1000) | 0.027 |
TL | 0.030 | Bootstrap (1000) | 0.064 |
DT | 0.155 | Bootstrap (1000) | 0.215 |
Variable | Model 1 | Model 2 | Model 3 | Model 4 (High) | Model 5 (Low) |
---|---|---|---|---|---|
LEV | −0.656 *** | −0.659 *** | −0.647 *** | −0.935 *** | −0.608 *** |
(−11.00) | (−11.47) | (−11.43) | (−5.91) | (−10.59) | |
SIZE | −0.011 | 0.011 | 0.007 | −0.041 | 0.023 |
(−0.62) | (0.63) | (−0.42) | (−1.29) | (1.53) | |
AGE | −0.052 | −0.042 | −0.020 | 0.304 | −0.176 + |
(−0.54) | (−0.37) | (−0.19) | (1.38) | (−1.75) | |
PR | control | control | control | control | control |
IND | control | control | control | control | control |
GR | −0.004 | −0.008 + | −0.009 * | −0.017 + | −0.008 + |
(−0.81) | (−1.68) | (−2.02) | (−1.70) | (−1.79) | |
LCF | −0.021 ** | −0.022 ** | −0.022 ** | −0.036 | −0.022 *** |
(−2.94) | (−3.12) | (−3.15) | (−1.22) | (−3.54) | |
TTI | 0.096 * | 0.099 * | 0.050 | 0.102 * | |
(2.08) | (2.02) | (0.45) | (2.07) | ||
RTI | 0.142 ** | 0.116 * | 0.053 | 0.103 * | |
(2.72) | (2.24) | (0.54) | (2.18) | ||
TBMI | 0.052 *** | 0.057 *** | 0.052 ** | 0.036 *** | |
(5.57) | (6.15) | (3.20) | (4.18) | ||
RBMI | 0.018 + | 0.012 | 0.025 | 0.017 | |
(1.66) | (1.16) | (1.23) | (1.61) | ||
DR | 0.191 * | 0.397 * | 0.108 | ||
(2.47) | (2.19) | (1.43) | |||
BL | −0.130 + | 0.004 | −0.121 + | ||
(−1.89) | (0.03) | (−1.77) | |||
TL | 0.159 + | 0.192 | 0.207 * | ||
(1.68) | (1.14) | (2.09) | |||
DT | −0.140 + | −0.360 * | −0.150 + | ||
(−1.86) | (−2.05) | (−1.87) | |||
N | 423 | 423 | 423 | 198 | 225 |
R2 | 0.267 | 0.339 | 0.379 | 0.497 | 0.344 |
A-R2 | 0.262 | 0.332 | 0.368 | 0.494 | 0.331 |
F | 30.48 *** | 23.67 *** | 16.63 *** | 5.74 *** | 13.71 *** |
Hausman | 69.04 *** | 74.22 *** | 80.77 *** | 46.54 *** | 85.46 *** |
Hypothesis | Content | Result |
---|---|---|
H1 | The adoption of a dual exploration strategy exerts a positive influence on firm performance. | Support |
H2 | Business model leveraging strategy has a negative impact on firm performance | Support |
H3 | Technology leveraging strategy has a positive impact on firm performance | Support |
H4 | Dual exploitation strategy hurts firm performance. | Support |
H5 | At an advanced level of digitalization, dual exploration strategy exhibits a more pronounced positive impact on firm performance. | Support |
H6 | At an advanced level of digitalization, the detrimental effect of business model leveraging strategy on firm performance is mitigated. | Support |
H7 | At an advanced level of digitalization, the positive impact of technology leveraging strategy firm performance is mitigated. | Support |
H8 | At an advanced level of digitalization, dual exploitation innovation strategy exerts a more notable negative impact on firm performance. | Refuse |
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Zhao, J.; Gao, P. Configurations of Ambidextrous Innovation and Its Performance Implication in the Context of Digital Transformation. Systems 2024, 12, 60. https://doi.org/10.3390/systems12020060
Zhao J, Gao P. Configurations of Ambidextrous Innovation and Its Performance Implication in the Context of Digital Transformation. Systems. 2024; 12(2):60. https://doi.org/10.3390/systems12020060
Chicago/Turabian StyleZhao, Jianxin, and Pengbin Gao. 2024. "Configurations of Ambidextrous Innovation and Its Performance Implication in the Context of Digital Transformation" Systems 12, no. 2: 60. https://doi.org/10.3390/systems12020060