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| The Impact of Executive Innovation Attention and Interlocking Relationship on Innovation Investment Behavior from the Perspective of Peer Effect |
| SONG Guangrui，MA Chun’ai，XIAO Rong |
| China University of Petroleum (Beijing), Beijing, China |
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Abstract Based on the perspective of peer effect, this study combines corporate innovation investment behavior with executive innovation attention and interlocking relationship, and explores the formation mechanism and influencing factors of the interactive relationship of innovation investment behavior among enterprises. Taking 2015~2019 A-share R&D active listed companies as samples, this study constructs multiple regression models, and finds that peer effect exists in the innovation investment behavior among enterprises in the same industry and executive innovation attention plays an intermediary role in the peer effect of innovation investment behavior. Interlocking directors and shareholders can promote the interaction and driving of innovation investment behavior among peer enterprises by positively adjusting the front and back paths of the mediating role of executive innovation attention.
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Received: 15 April 2021
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