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Based on the density dependence theory, this paper attempts to explore how two types of interdependence among firms located in the same national high-tech zones (NHTZs) – mutualism and competition – affect entrepreneurship in the NHTZs. The authors suggest that increasing firm density can help enhance legitimacy and form mutual networks. However, as the competition becomes fierce, the above positive relationship will weaken when the firm density exceeds a certain level. In addition, the authors are interested in whether the age of NHTZs would affect their sensitivity to legitimacy and competition and whether firm density affects entrepreneurship.

This article formulates two hypotheses from the theoretical deduction. The hypotheses are examined using the ordinary least squares (OLS) regression with a unique, unbalanced panel dataset of Chinese NHTZs spanning from 2014 to 2021. Considering potential endogeneity risk among the variables, the authors attempt to lag variables and ultimately find the results are still robust.

Drawing upon the density dependence theory, the empirical results show firm density is conducive to promoting entrepreneurship, while the positive relationship between community density and NHTZs' entrepreneurship gradually weakens as the firm density surpasses a certain level. The dynamics between mutualism and competition have different impacts on NHTZs' entrepreneurship. In addition, the results demonstrate that the linkage between firm interdependence and entrepreneurship is stronger for younger NHTZs. Firm density has an impact on entrepreneurship through legitimacy and excessive competition effects.

On the one hand, the research period of this paper is 2014–2021, as the China Torch Statistical Yearbook only started to publish operating revenues in 2014, so the data period of this paper is relatively short. More research can be done in the future when more data is disclosed. On the other hand, the qualitative analysis cannot be conducted because of the limited data and materials. In future research, the qualitative analysis of entrepreneurial activities in NHTZs, such as questionnaires or case studies, needs to be supplemented, which will be an interesting direction.

Most existing research has not distinguished the differences between NHTZs (Wang et al., 2019), especially the differences in legitimacy and access to resources caused by the age of NHTZs. This article considers the heterogeneity between NHTZs, which helps to provide theoretical and practical evidence for a transition economy like China to make trade-off decisions on balancing absorbing new entrants with promoting the efficient allocation of resources based on the density and age of NHTZs.

Drawing upon density dependency theory, this paper enriches the literature on agglomeration and entrepreneurship with a new perspective and extends the study to NHTZs.

First, this paper provides new evidence on how agglomeration affects entrepreneurship from an ecological perspective with the help of mutualism and competition interdependence. Most studies have explored the role of agglomeration in entrepreneurship, focussing on social networks, knowledge spillovers or resource endowments (Acs et al., 2013; Capozza et al., 2018; Yu, 2020). Drawing upon density dependency theory, this paper enriches the literature on agglomeration and entrepreneurship with a new perspective and extends the study to NHTZs. Second, the emphasis of science parks has been primarily on qualitative or case studies (Salvador et al., 2013; Guo and Verdini, 2015; Xie et al., 2018). We have diversified the quantitative research between agglomeration and entrepreneurship by using panel data from Chinese NHTZs from 2014 to 2021. Third, most existing research has not distinguished the differences between NHTZs (Wang et al., 2019), especially the differences in legitimacy and access to resources caused by the age of NHTZs. This article considers the heterogeneity between NHTZs, which helps to provide theoretical and practical evidence for a transition economy like China to make trade-off decisions on balancing absorbing new entrants with promoting the efficient allocation of resources based on the density and age of NHTZs. Finally, this paper meticulously investigates the profound influence and underlying mechanisms of firm density within NHTZs on entrepreneurship. It discerns two distinct mechanisms at play: the legitimacy effect and the impact of excessive competition resulting from firm density. This comprehensive analysis significantly contributes to our comprehension of the intricate interplay between firm density and entrepreneurship, shedding light on the dynamics of competition and mutual benefits.

This paper empirically explored the influence of external and internal factors on technological and non-technological innovation of 5747 Indian firms. The study also explored novel insights about manufacturing firms by segregating them into high-technology and low-technology industries.

The study employed hierarchical regression analysis to analyse a cross-sectional dataset gathered from the World Bank enterprise survey. The firms are segregated into high-technology and low-technology industries based on the technology-intensity classification of the manufacturing industry given by the Organisation for Economic Co-operation and Development.

The main results highlight that technological and non-technological innovation was primarily driven by internal resources and capabilities rather than external factors. The authors found the highest effect of research and development spending on both forms of innovation. In both high-tech and low-tech industries, technology transfer is positively associated with technological innovation and negatively associated with non-technological innovation. Furthermore, external business support has substantially influenced non-technological innovation in low-tech industries.

This study used two-step hierarchical regression to explore the influence of external and internal factors on technological and non-technological innovation separately. Exploring determinants of innovation in high-technology and low-technology industries also brings the distinct prerequisites of enhancing innovation to the attention of policymakers and industry experts.

This study aims to examine the relationships among open innovation, organizational ambidexterity and firm performance. One important aspect of open innovation is that it enables a firm to develop its organizational ambidexterity capability and become more efficient in using this capability to improve its performance.

The authors introduce a moderated mediation theoretical framework to reveal the bridging role of organizational ambidexterity in the effect of open innovation on firm performance. The theoretical model is empirically validated using survey data from 215 high-tech firms.

The authors find that open innovation plays a moderating role in the relationship between organizational ambidexterity and firm performance. Furthermore, organizational ambidexterity plays a significant mediating role in the relationship between open innovation and firm performance, and open innovation has a nonlinear, inverse U-shaped moderation effect on the relationship between organizational ambidexterity and firm performance.

This is one of the first studies to undertake a moderated mediation analysis by highlighting the mediating role of organizational ambidexterity and the moderating role of open innovation in influencing firm performance. The authors make a theoretical contribution to the field of open innovation and organizational behavior, and the authors provide concrete and feasible decision-making suggestions to decision makers adopting open innovation.

The empirical results can help high-tech firm managers ascertain the organizational ambidexterity practices that can be employed and determine the level of open innovation to enhance firm performance.

This research provides new insights into whether and how firms can grasp the benefits of organizational ambidexterity to undertake open innovation activities. The findings not only contribute to advancing the mediating effect of organizational ambidexterity but also verify the inverse U-shaped moderation of open innovation in the relationship between organizational ambidexterity and firm performance.

The purpose of this study is the detection and comparison of distinctive features of Gazelle firms (GFs) at three stages evolution outside the typical boundaries.

The study uses Analysis of Variance and logistic regression to tests the performance of 2427 gazelles for (GFs) a five-year period (2015–2020).

The study found that GFs prediction probability is low. In their second and third stages of evolution (initial growth and continuing growth), the gazelle growth effects appear. They are more effective in terms of profitability and turnover due to increasing sales and size.

This study shows that stakeholders should give preference to GFs that demonstrate long-term (steady) growth. Such firms are more efficient and financially stable than firms with high short-term growth.

The present study identifies patterns in the generation and development of GFs in high-tech industries outside the typical boundaries.

This paper strives to understand the role of resource orchestration (RO) in the rapid growth of high-tech small and medium-sized enterprises (SMEs).

Based on a comparative case study, RO is compared between a high-tech family firm and a high-tech non-family firm. To capture the complexity of RO, this study applies a longitudinal approach using a large volume of archival and interview data gathered over ten years.

The configuration of family-firm paradoxical growth-oriented RO emphasizes RO based on collectivism and responsibility, although relying on large-scale conforming normative control. In contrast, the configuration of non-family-firm growth-oriented RO emphasizes administrative-based delegation and management-supported value creation.

By suggesting ownership-based RO configurations, this study provides insights into how ownership types, i.e. family firms and non-family firms, affect RO in firms operating in complex and dynamic environments. These configurations explain how and why RO is arranged in a growth context.

This study aims to investigate the influence and impact mechanism of capital tax incentives on firm innovation.

This study employs the difference-in-differences (DID) method, in conjunction with the exogenous impact of accelerated depreciation (AD) pilot policy. This study selects Chinese listed companies from 2010 to 2017 as the research sample.

Firstly, AD exerts a substantial positive effect on the quantity and quality of the innovation output of firms, and the positive impact results primarily from heightened investment in fixed assets, particularly, machinery and equipment. Secondly, the influence of the policy is pronounced in non-state-owned enterprises, mature enterprises, less capital-intensive enterprises and non-high-tech industries, which all exhibit strong innovation incentives. Lastly, the tax incentive policy significantly stimulates firm innovation in the short term, but its long-term impact on innovation incentives lacks statistical significance.

This study highlights the significance of capital tax incentives in facilitating the innovation process in firms.

This paper aims to investigate the influence of the regional business environment on local firm innovation, considering various dimensions such as administrative, financial and legal environments.

Multiple regression analysis is employed to analyze archival data for firms listed on Chinese stock markets.

We find that the optimizations of the administrative and financial environments positively affect firm innovation, whereas the legal environment does not exert a similar impact. Our analysis also reveals that the business environment’s optimization significantly influences innovation in firms that are small, non-state-owned and operating in high-tech industries. Furthermore, the business environment acts as a moderating variable in the relationship between firm innovation and firm value.

This study contributes to a more comprehensive understanding of institutional-level determinants of firm innovation, highlighting the nuances of the legal environment and the importance of context-specific analysis, especially in emerging markets like China.

Developing countries can significantly enhance firm innovation by improving the business environment, including the optimization of administrative and financial systems, reducing transaction costs and ensuring capital supply. Tailored legal frameworks and alternative institutional strategies may also be explored.

This study explicitly emphasizes the governmental role in promoting firm innovation, shedding light on policy formulation and strategic alignment with local administrative policies.

To the best of our knowledge, this paper is the first to explore the relationship between the business environment and firm innovation using World Bank indicators in an emerging market context, providing novel insights into the unique dynamics of legal, financial and administrative sub-environments.

The study evaluates the effects of GVC participation on firm productivity and profitability. Hence this study aims to find evidence whether there is a clear difference between the productivity and profitability effects of simple and complex backward and forward participations for Turkish firms.

The authors employ a firm level data from the Türkiye's both first and second top 500 industrial enterprises from 1993 to 2019. In addition, the authors calculate country-sector level both backward and forward GVC participation indices with their simple and complex sub-indices for each year from 1990 to 2015 from the Full Eora data of the Eora Global Supply Chain Database. The authors estimate the model with OLS and fixed effects. To understand the role of the 2008 global crisis, the authors also undertake estimations for the pre-crisis and post-crisis. The authors also divide the data by R&D intensity of sectors.

While backward GVC participation lowers both labor productivity and profitability growth, forward GVC participation promotes both. Moreover, simple and complex backward participation have similarly negative effects on productivity and profitability growth, simple and complex forward participation have the completely opposite effects though. The authors then provide substantial evidence for the differing effects of participation on productivity and profitability growth between pre-crisis and post-crisis periods. Interestingly, backward participation has a negative impact for both hi-tech and low-tech firms while forward participation boosts the productivity growth only for low-tech firms, probably due to the relatively more upstream position of low-tech firms.

To the best of the knowledge, no previous study has yet examined the profitability effects of GVC for firms. Second, in addition to overall backward and forward GVC participation rates, the authors also calculate and utilize simple and complex GVC measures in the estimations. Third, to reveal whether the global financial crisis leads to a shift in the productivity and profitability effects of GVCs, the authors separately run the regressions for the pre- and post-crisis periods. Fourth, the authors then investigate the argument that hi-tech sectors/firms could benefit more from joining GVCs compared to firms in low-tech technology sectors.

This study aims to investigate the impact of venture capital (VC) involvement on investment efficiency (IE) and its potential action mechanisms from the perspective of financial resource allocation.

Using data of Chinese firms between 2008 and 2020, and the propensity score matching–difference in differences method, the authors investigate the relationship between VC and IE.

The results show that VC involvement significantly promotes IE, and the effect exhibits an inverted U-shape dynamic over time. The authors find two mechanisms through which VC promotes IE: alleviating financing constraints and improving corporate governance. Supplementary tests indicate that VC institutions with high reputations play a significant role in enhancing IE; the promotion effect is more pronounced for firms in non-high-tech industries, firms facing higher industrial competition and firms located in areas with better property rights protection systems.

This study provides several original contributions. First, based on principal–agent and financing constraint theories, this study enhances the literature by revealing how VC drives the IE of newly public firms in China. Second, to the best of the authors’ knowledge, this is the first attempt to identify the mechanisms between VC and IE; Third, from an empirical perspective, besides discussing the average and dynamic effect of VC on IE, this study also explores the impact of the interaction between VC and market competition and property rights protection on IE.

Amidst the rapid development of the global digital economy, digital transformation has become a strategic choice that firms must use to respond to the changing times. This study analyzes the impact of digital transformation on corporate environmental, social and governance (ESG) performance.

This study analyzes the impact of digital transformation on corporate ESG performance.

Using panel data from Chinese A-share-listed companies from 2010 to 2019, the authors found that digital transformation has a positive impact on corporate ESG performance, especially for high-tech firms and state-owned firms. In particular, the authors find that the digital production and digital marketing exert a positive effect on corporate ESG performance. Mechanism tests showed that digital transformation helps promote corporate green innovation, improve information transparency and improve corporate governance, thus enhancing ESG performance. A moderating effect analysis revealed that the positive impact of digital transformation on ESG performance is more significant in firms with government subsidies and chief executive officers (CEOs) with rich career experience.

Most existing research has confirmed the positive effect of digital transformation on firms' financial performance, whereas fewer studies have focused on the impact of digital transformation on the non-financial performance of firms.