新创企业自愿公开披露研发信息行为：战略动机、影响机制与竞争对手应对策略

Why are high-tech start-up firms willing to voluntarily disclose their proprietary R&D information publicly under the risks of being imitated by others? What will be the effects of such kind of voluntary public R&D disclosures on the high-tech start-up firms, as well as on their competitors? Based on the information economic theory and the behavioral theory of the firms, this research project aims to investigate the motivations to voluntarily disclose one’s proprietary R&D information publicly, and to better understand the mechanisms of such disclosure behavior. In addition, we will also try to analyze the performance consequences of initiating the voluntary public R&D disclosure strategy, and to help the competitors within the same industry to better interpret and respond such strategic behavior. This project will employ various methodologies, including in-depth interview, survey, and quantitative analysis, based on a comprehensive sample of start-up companies in the high-tech industry in China. In sum, this project attempts to provide theoretical foundations and managerial implications for start-up firms to effectively perform the strategy of voluntary public R&D disclosures, and to accomplish their expected organizational outcomes. Furthermore, this project will also provide insights to competitors within the same industry on how to interpret and understand such strategic behavior precisely and to responding properly.

为什么高新技术型新创企业愿意冒着研发项目和成果被模仿的风险自愿公开地披露研发信息呢？这种自愿公开披露研发信息的行为又会对企业自身以及同行业的竞争对手产生什么样的作用呢？本项目将基于信息经济学与企业行为理论的双重视角，以我国高新技术型新创企业为样本，运用深入访谈、问卷调查和量化分析的方法系统地研究我国新创企业自愿公开披露研发信息的战略动机和作用机制，并进一步探究该行为对新创企业自身的作用结果以及同行业内的竞争对手应如何正确解读和应对这一战略行为。本项目将为高新技术型新创企业有效运用自愿公开披露研发信息这一策略提供理论支撑和管理建议，从而帮助它们达到预设的战略目标。同时，本项目也将为同行业内的其他竞争者如何正确解读和应对这一战略行为提供理论依据和可行对策。

“十二五”以来，“大众创业、万众创新”已经逐步成为了我国重要的发展战略。对于依靠高新技术的新创企业来说，研发活动是它们最为重要的战略活动之一。本课题基于信息经济学与企业行为理论的双重视角聚焦国高新技术型新创企业，系统地研究了其自愿公开披露研发信息的潜在动机、作用机制、以及产生的后果。通过研究我们发现：首先，新创企业在前期的研发能力、研发表现、融资表现和企业绩效越差，则其越有可能对本企业的研发信息进行自愿的公开披露。另外，企业在前期的研发能力、研发表现、融资表现和企业绩效对其进行自愿公开披露研发信息行为的负效应随着该企业所处行业的竞争程度和关键资源可获得难度的提高而增强；其次，新创企业自愿公开披露研发信息行为的程度与其接下来的研发成果和市场表现将呈现“倒 U” 型的非线性相关关系。另外，此“倒 U” 型关系受到行业竞争激烈程度、关键资源可获得性、企业创业者（公司CEO或创始人）前期创业成功经验、以及其先前研发经验的调节作用的影响；第三；新创企业自愿公开披露研发信息行为的程度与其竞争对手在同一技术领域内的参与程度呈现“U”型关系。另外，此“U”型关系会受到披露企业在产品市场、技术市场和资本市场上的客观表现，以及该竞争对手企业规模、在行业内的竞争地位和先前在同一技术领域内的研发经验的调节作用影响。在本课题项目资金的资助下，我们成功建设完成了独特的“中国新创企业研发信息披露”数据库。