Relationship between innovativeness, quality, growth, profitability, and market value
基于资源基础观和组织学习理论，研究了企业创新性与质量如何通过增长和盈利能力影响市场价值，发现创新性和质量在多个路径中起中介作用。
Abstract The purpose of this study is to examine the relationship between innovativeness, quality, growth, profitability, and market value at the firm level. Building on concepts from a resource‐based view of a firm and organizational learning, innovation and quality literature, we propose the innovativeness–quality–performance model, which describes how a firm's capability to balance innovativeness with quality drives growth and profitability, and in turn drives superior market value. Results of structural equation models indicate that (1) innovativeness mediates the relationship between quality and growth, (2) quality mediates the relationship between innovativeness and profitability, (3) both innovativeness and quality have mediation effects on market value, and (4) both growth and profitability have mediation effects on market value. Implications for theories and practices are discussed. Copyright © 2005 John Wiley & Sons, Ltd.