Despite extensive research on knowledge spillovers, existing literature has paid limited attention to the formation mechanism of innovation chains. To address this gap, this paper constructs a multi-party evolutionary game model including two innovators and one supporter, incorporating knowledge spillover effects, and empirically tests the theoretical predictions using data from Chinese listed companies (2016–2025). The results show that the final equilibrium is (cooperation, cooperation, support). Empirically, we find a nonlinear relationship between knowledge spillover and the formation mechanism of an innovation chain with a double threshold effect of absorptive capacity: the positive impact of spillover increases as capacity moves from low to moderate, but diminishes-while remaining positive-when capacity becomes excessively high, revealing an S-shaped pattern. The originality lies in two aspects. Theoretically, our multi-player model extends the conventional bilateral framework to better reflect real-world parallel collaboration. Empirically, our firm-level analysis of Chinese listed companies is among the first to identify a double threshold effect, moving beyond regional-level or single-threshold studies. Practically, our findings suggest that governments should tailor subsidy intensities to firms’ absorptive capacity levels—allocating more to moderate-capacity firms where spillover gains are maximized—offering a more precise strategy for promoting sustainable innovation chain development.
Focusing on extreme shocks, this study investigates how emerging market firms survive and recover through cross-organizational digital synergy. It elucidates the nonlinear impact of digital innovation cooperation on corporate resilience and the phased evolutionary mechanisms of knowledge transfer during complex technological embeddedness.
Analyzing 2,391 firm-year observations from Chinese listed companies between 2019 and 2022, this study extracts digital innovation cooperation elements via standardized text analysis of public announcements. A composite corporate resilience index is constructed using a dynamic capability perspective encompassing learning, adaptation, and reconfiguration. Hierarchical regression and a three-step nonlinear moderation procedure empirically validate the U-shaped main effect and multidimensional boundary conditions.
Empirical evidence reveals a U-shaped relationship between digital innovation cooperation and corporate resilience. Initial adaptation costs stemming from technological heterogeneity and cognitive friction temporarily diminish risk capacity, whereas the subsequent internalization of cross-boundary knowledge during deeper cooperation drives a substantial recovery. Furthermore, top management’s digital background and corporate integrity culture, acting as cognitive and governance mechanisms, steepen this U-shaped curve, whereas intense product market competition flattens it.
This research expands knowledge transfer theory within complex technological contexts, challenging traditional assumptions of immediate open innovation empowerment. It reveals the underlying dissipate then compensate logic of cross-organizational digital synergy. The proposed multidimensional nonlinear moderation framework provides quantitative criteria for firms to formulate cross-cycle budgets, mitigate cooperation risks and customize defensive strategies.
Fan Ran, Xiaoge Tong, Maosheng Ran et al.· International Journal of Eme...· 0 citations
The technological catch-up of latecomer firms contributes to breaking industry monopolies and enhancing resource allocation efficiency. This paper aims to explore the impact of university-industry collaboration (UIC) on latecomer firms' technological catch-up and its underlying mechanisms.
Based on the knowledge-based theory, this paper uses matched data from Chinese listed companies and patent information for the period 2007–2022 as the research sample, and constructs a theoretical framework explaining how the UIC affects the technological catch-up of latecomer firms. It also focuses on discussing the heterogeneous impacts of financing constraints, environmental uncertainty and market competition.
The results show that the UIC helps latecomer firms catch up in technology both domestically and globally, and this conclusion remains valid after rigorous robustness testing. The internal mechanism is that UIC can enhance the knowledge diversification and acquisition efficiency of the firms' knowledge bases, which in turn promotes their technological catch-up. Heterogeneity research finds that when firms face with stronger financing constraints, greater environmental uncertainty and fiercer market competition, the UIC plays a more significant role in promoting the technological catch-up.
This paper expands the research perspective of the existing literature on the path of technological catch-up in firms, and highlights the important role of the collaboration between basic research and applied research in technological catch-up.
Feiran Liu, Xi Zeng· European Journal of Innovati...· 0 citations
This study investigates collaborative technological innovation models between the owner and the supplier in megaprojects. It aims to optimize heterogeneous resource inputs, namely capital and knowledge and balance expected returns against systemic risks during dynamic technology accumulation under stochastic disturbances to advance core technology development.
This study develops a continuous-time stochastic differential game framework. By solving the Hamilton-Jacobi-Bellman (HJB) equations and endogenizing the supplier's unobservable effort, this study compares three innovation models: the independent innovation model, the capital sharing model and the collaborative research and development (R&D) model.
The marginal revenue ratio acts as the primary driver of cooperation. Analysis reveals a “proportional rigidity” phenomenon where optimal investment allocation proportions remain unaffected by external stochastic shocks, determined solely by the internal benefit structure. Moreover, high supplier absorptive capacity and knowledge spillover risks induce a “defensive substitution mechanism,” which leads the owner to reduce capital sharing and increase direct technical intervention. Although collaborative R&D increases systemic variance, it achieves Pareto optimality and maximizes technology output.
By integrating capital and knowledge within a dynamic framework of risk and return trade-offs, this study extends the existing literature on single-resource inputs. Furthermore, the research provides structural explanations for moral hazard and collaborative breakdown, thereby offering governance strategies and performance-based incentive mechanisms for complex engineering consortia. Methodologically, by embedding knowledge spillovers, absorptive capacity and endogenous effort into a stochastic differential game, this study defines the robustness boundaries and risk-return trade-offs across different collaborative models.
Hanlin Wang, Qianqian Shi, Mingquan Zhang et al.· Engineering Construction and...· 0 citations
ABSTRACT Objective: the objective of this study was to analyze the effect of capital structure on the relationship between intangible resources and innovation capability. Methods: the hypotheses were tested using a panel dataset of 487 US companies listed on the S&P index from 2015 to 2022, employing fixed-effects regression models. Results: the results indicate that three intangible resources - accounting intangibility, marketing investments, and market-to-book - positively influence innovation capability. However, the effects of accounting intangibility and market-to-book on innovation capability diminish when firms rely primarily on debt financing, as opposed to equity issuance (i.e., the moderator). Conclusions: the findings highlight that different types of intangible resources contribute to innovation capability and underscore the role of capital structure in shaping management practices aimed at achieving competitive advantages and long-term corporate sustainability.
E. L. Garcia, Valter Afonso Vieira, Karla Eloisi Gonçalves Martins· BAR: Brazilian Administratio...· 0 citations
The rapid advancement of digital technology has precipitated a paradigmatic shift in organizational knowledge management, giving rise to the construct of knowledge digitization (KD). Grounded in spillover theory and the knowledge-based view, this study aims to investigate whether and how customer KD generates spillovers for upstream suppliers, as well as the transmission mechanisms and boundary conditions governing this relationship.
The study draws on A-share listed companies on the Shanghai and Shenzhen stock exchanges over the period 2009–2023, yielding a final sample of 1,867 annual supplier–customer dyadic observations. Hypotheses are tested using a two-way fixed effects panel data model.
The results demonstrate that customer KD exerts a significant positive spillover effect on supplier total factor productivity (TFP) and that this effect is mediated by knowledge transfer (KT) and knowledge co-creation (KC) between the customer and supplier. Moreover, knowledge distance (DS) exerts a positive U-shaped moderating effect for this effect. Heterogeneity analyses show that the spillover effect is more pronounced among state-owned and large-scale suppliers.
This study extends spillover theory into the domain of digital knowledge by demonstrating that customer KD restructures the supply chain knowledge flow regime. It advances KD research from an intra-organizational to an inter-organizational level of analysis, identifies a dual-channel mediation mechanism that distinguishes unidirectional transfer from bilateral co-creation and theorizes a U-shaped boundary condition that reframes DS from a uniform barrier into a new moderator whose effect is overcome by KD’s distinctive properties.
