Firm Growth Performance and Relative Innovation Orientation of Exploration vs Exploitation: Moderating Effects of Cluster Relationships
研究企业探索与利用的相对创新导向与绩效之间的倒U型关系，并发现集群关系的数量和强度会调节这一曲线，为集群企业优化创新平衡策略提供参考。
ABSTRACT This article studies the latent mechanisms underlying the non-linear correlation between a firm's relative innovation orientation of exploration vs exploitation and performance. We also investigate the moderating effects of cluster relationships on this relationship. Using a sample of 638 SMEs in four industry clusters in Tianjin, China, we confirm an inverted U-shaped correlation between a firm's relative innovation orientation and performance, and explicate the latent mechanisms underlying such an inverted U shape. We find that the number and strength of a firm's cluster relationships can moderate this inverted U-shaped curve: the former moves the turning point of the inverted U shape toward exploratory orientation, and the latter moves the turning point toward exploitative orientation. For improved performance, we discuss appropriate innovation balancing strategies for cluster firms with different cluster relationships, and optimal cluster strategies under different innovation-balancing conditions. This study adds to the increasing scholarly effort on latent mechanisms behind U-shaped relationships and moderating effects on such relationships in management research.