Abstract: Most research on technological relatedness or complementary assets has been carried out in isolation when assessing their effects on performance. However, complementary assets can moderate the effects of technological relatedness on performance. By taking china high-tech listed companied from 2004-2010 panel data as an example, the paper analyzes the relationship between the technological relatedness and enterprise performance and different specialized complementary assets have distinctive moderating effects on this relationship. The result shows that technological relatedness has an invered U-shaped relationship with performance. The more human capital complementary assets are available, the greater the positive impact of technological relatedness on enterprise performance. Marketing complementary assets has no moderating effects on this relationship. We conclude that maintaining a coherent relationship between technological relatedness and complementary assets can give firms generates competitive advantage.

摘要： 在评估技术关联或互补资产对绩效的影响时，多数文献将这两者分离开来进行研究，忽视了互补资产对技术关联与企业绩效间关系的调节作用。采用中国高技术上市公司2004-2010年面板数据，实证分析技术关联与企业绩效的关系以及不同互补资产对两者关系的调节作用。结果表明，技术关联与企业绩效呈倒U形关系；人力互补资产正向调节技术关联和企业绩效间关系；市场互补资产对技术关联和企业绩效间关系调节作用不显著。在实施技术创新战略时加强技术间关联和专业化互补资产可使企业获取竞争优势。

关键词: 技术关联 , 互补资产 , 绩效 , technolgical relatedness, complementary assets, performance