Preparing for a rainy day: innovation performance above innovation aspirations and strategic alliance formation in the high-tech industry
基于企业行为理论，研究创新绩效高于创新期望如何通过高管创新注意力推动战略联盟形成，并发现同行创新披露和管理者职业关系会增强这一效应。
Building on the behavioural theory of the firm, this study explores how innovation performance above innovation aspirations (IPAA) influences strategic alliance formation. We propose that when firms exceed their innovation targets, executives experience heightened innovation pressure, which significantly drives strategic alliance formation. Executive innovation attention plays a pivotal mediating effect in this process. Additionally, peer innovation disclosure and managerial professional connections amplify the positive effect of IPAA on strategic alliance formation. Drawing on panel data from listed high-tech firms in China, our hypotheses are strongly supported empirically. We further find that IPAA significantly promotes both R&D and non-R&D alliances. Moreover, the facilitating effect of IPAA on strategic alliance formation is more pronounced in industries with a higher risk of innovation failure. This research not only enriches the behavioural theory of the firm but also contributes to understanding of the antecedents of strategic alliances.