Abstract This study focuses on the transition speed of exploration and exploitation in the R&D context from a temporal view. Combining punctuated equilibrium theory and organizational ambidexterity theory, the study analyzes the impact of drastic transition and incremental transition of R&D on firm growth and the moderating effect of slack resources. Based on the FGLS regression test on the data from A-share Chinese listed companies from 2007 to 2018, the results show that, R&D transition positively promotes firm growth generally, which means that R&D transition is an effective way for firms to timely switch technology track and maintain competitive advantages. In detail, a drastic transition is helpful to qualitative growth, but it will damage the quantity growth. A gradual transition is a better strategy in regular situation as it promotes both quantitative and qualitative growth. Slack resources have a positive moderating effect on the relationship between R&D transition and firm growth. Its buffering and boosting effect are greater than the efficiency loss caused by the management agency.
