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    Impact of Technology Recombination on Construction Firm Performance: Evidence from Chinese Construction Sector

    Source: Journal of Management in Engineering:;2023:;Volume ( 039 ):;issue: 003::page 04023014-1
    Author:
    Kaijian Li
    ,
    Qianwen Yang
    ,
    Asheem Shrestha
    ,
    Dan Wang
    DOI: 10.1061/JMENEA.MEENG-5162
    Publisher: American Society of Civil Engineers
    Abstract: Technological recombinant innovation (TRI) has been regarded as an important part of technological innovation in the construction industry. However, the pattern of how TRI affects the performance of construction firms is still unclear. Building upon architectural innovation, this study identifies the exploratory and exploitative TRIs and explores the mediating mechanism of business models, by which TRIs influence a firm’s performance. Using text mining, panel data analysis of 107 China-listed construction firms was conducted to analyze the relationships. The results show that the positive relationship between exploratory TRI and firm performance is weakened by novelty-centered business model, while the negative effect of exploitative TRI on firm performance is strengthened through its mediation. This research enriches the literature on the relationship between technological innovation and firm performance by highlighting the important role of TRIs in predicting firm performance and differentiating mediating mechanisms for the two types of business models. In addition, the application of text mining to quantitatively evaluate the types of business model from the annual reports of listed construction firms, provides a new quantitative evaluation method for the research of business models. This study discusses the necessity of recombinant innovation as the source of technological innovation for construction firms, and provides guidance for construction firms in regards to their technological innovation approaches. Firms should focus on exploratory recombinant innovation, actively incorporating external technological components and exploring the new combinations of internal technological components. In terms of exploitative technology recombination, the reuse of existing technology combination may lead to knowledge solidification, which leads to the continuous decline of firm performance. Therefore, firms should pay attention to the balance and interaction of exploitation and exploration. Additionally, since the negative mediating effect of the novelty-centered business model has on the relationship between technological recombinant innovation and firm performance, firms should be mindful about the business model they employ. Adopting novelty-centered business model can be risky for construction firms that are in slow clockspeed industries. Instead, the best way for construction firms to keep thriving is by focusing on their efficiency-centered business model which can help them remain stable by protecting existing resources and competitive actions to maintain a competitive advantage.
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      Impact of Technology Recombination on Construction Firm Performance: Evidence from Chinese Construction Sector

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    contributor authorKaijian Li
    contributor authorQianwen Yang
    contributor authorAsheem Shrestha
    contributor authorDan Wang
    date accessioned2023-08-16T19:18:37Z
    date available2023-08-16T19:18:37Z
    date issued2023/05/01
    identifier otherJMENEA.MEENG-5162.pdf
    identifier urihttp://yetl.yabesh.ir/yetl1/handle/yetl/4293083
    description abstractTechnological recombinant innovation (TRI) has been regarded as an important part of technological innovation in the construction industry. However, the pattern of how TRI affects the performance of construction firms is still unclear. Building upon architectural innovation, this study identifies the exploratory and exploitative TRIs and explores the mediating mechanism of business models, by which TRIs influence a firm’s performance. Using text mining, panel data analysis of 107 China-listed construction firms was conducted to analyze the relationships. The results show that the positive relationship between exploratory TRI and firm performance is weakened by novelty-centered business model, while the negative effect of exploitative TRI on firm performance is strengthened through its mediation. This research enriches the literature on the relationship between technological innovation and firm performance by highlighting the important role of TRIs in predicting firm performance and differentiating mediating mechanisms for the two types of business models. In addition, the application of text mining to quantitatively evaluate the types of business model from the annual reports of listed construction firms, provides a new quantitative evaluation method for the research of business models. This study discusses the necessity of recombinant innovation as the source of technological innovation for construction firms, and provides guidance for construction firms in regards to their technological innovation approaches. Firms should focus on exploratory recombinant innovation, actively incorporating external technological components and exploring the new combinations of internal technological components. In terms of exploitative technology recombination, the reuse of existing technology combination may lead to knowledge solidification, which leads to the continuous decline of firm performance. Therefore, firms should pay attention to the balance and interaction of exploitation and exploration. Additionally, since the negative mediating effect of the novelty-centered business model has on the relationship between technological recombinant innovation and firm performance, firms should be mindful about the business model they employ. Adopting novelty-centered business model can be risky for construction firms that are in slow clockspeed industries. Instead, the best way for construction firms to keep thriving is by focusing on their efficiency-centered business model which can help them remain stable by protecting existing resources and competitive actions to maintain a competitive advantage.
    publisherAmerican Society of Civil Engineers
    titleImpact of Technology Recombination on Construction Firm Performance: Evidence from Chinese Construction Sector
    typeJournal Article
    journal volume39
    journal issue3
    journal titleJournal of Management in Engineering
    identifier doi10.1061/JMENEA.MEENG-5162
    journal fristpage04023014-1
    journal lastpage04023014-12
    page12
    treeJournal of Management in Engineering:;2023:;Volume ( 039 ):;issue: 003
    contenttypeFulltext
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