Abstract: From the perspective of technology strategy and innovation economics, this paper analyzes the influence of technological diversification on the persistence of firm’s innovation, and then conducts an empirical test based on a sample of Chinese manufacturing listed firms from the year of 2006 to 2014. The result shows that, technological diversification has a positive influence on firm’s persistent innovation; both related technological diversification and exploitative technological diversification have a positive influence on firm’s persistent innovation, but explorative technological diversification has a negative influence on the persistence of firm’s innovation input. The synergy between related technological diversification and unrelated technological diversification has a positive influence on the persistence of firm’s innovation. However, firm conducts explorative technological diversification and exploitative technological diversification simultaneously will be harmful to its persistent innovation. The paper also finds the different moderating effects of product diversification and complementary assets on the relationship between technological diversification and persistent innovation.

摘要： 基于技术战略和创新经济学的视角，从理论上分析了技术多元化影响企业持续创新的机理，并利用中国制造业上市公司2006–2014年的面板数据进行了实证检验。研究结果表明，技术多元化在总体上有助于企业的持续创新；相关技术多元化和开发式技术多元化对持续创新有正向影响，但探索式技术多元化对投入维度的持续创新有抑制作用。此外，相关技术多元化与非相关技术多元化的协同对持续创新有正向影响，但同时开展探索式技术多元化与开发式技术多元化并不利于企业持续创新。研究还发现互补资产和产品多元化对“技术多元化–持续创新”关系有不同程度的调节效应。