Research on the Influence of Slack Resource on the Peer Effect of Enterprise R and D Investment: The Moderating Effect of Environmental Uncertainty

Shiya Qiao

doi:10.6981/FEM.202408_5(8).0013

Authors

Shiya Qiao

DOI:

https://doi.org/10.6981/FEM.202408_5(8).0013

Keywords:

Slack Resource; The Peer Effect of Enterprise R&D Investment; Environmental Uncertainty; Moderating Effect.

Abstract

Today's market is highly competitive and the external environment is unstable, enterprises need to carry out technological innovation to improve their competitiveness. However, the technological innovation activities of enterprises are related to the slack resource and the R&D investment behavior of the peer enterprises. Therefore, this paper investigates the influence of slack resource on the peer effect of enterprise R&D investment and the moderating effect of environmental uncertainty on the relationship between slack resource and the peer effect of enterprise R&D investment based on the A-share listed companies in China from 2011 to 2020. The results of this research show that both absorbed slack resource and unabsorbed slack resource negatively affect the peer effect of enterprise R&D investment, and environmental uncertainty plays a negative moderating effect between absorbed slack resource and the peer effect of enterprise R&D investment. The above research findings provide strong evidence that Chinese enterprises can efficiently explore and transform internal slack resource and fully invest them in R&D activities to improve the level of enterprise technological innovation and take measures to stabilize the external market environment.

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