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The more funding the better? The moderating role of knowledge stock on the effects of different government-funded research projects on firm innovation in Chinese cultural and creative industries
Based on prior research, this study attempts to examine how effectively government-funded research projects (GFPs) can facilitate firm innovation in the cultural and creative industry (CCI), as well as the internal organizational contingency associated with the effects of GFPs. Specifically, this paper differentiates two types of GFP -- central-government-funded projects (CGFPs) and local-government-funded research projects (LGFPs) -- and explore how effectively the two types of GFP affect two types of firm innovation, i.e., radical innovation and incremental innovation. Based on an empirical study of the panel data of Chinese innovative firms related to the CCI, this paper finds that CGFPs have an inverted U-shaped effect on both firms’ radical innovation and incremental innovation in the CCI, while LGFPs have an inverted U-shaped effect on firms’ incremental innovation, but they have no significant effects on firms’ radical innovation. The effects of both CGFPs and LGFPs are moderated by firms’ knowledge stock.
•This study examines how government funded projects (GFPs) affect firm innovation in Chinese cultural and creativity industries (CCIs).•GFPs have an inverted U-shaped relationship with firm innovation in CCIs.•The inverted U-shaped relationship between the cumulative numbers of Central GFPs and firms’ radical innovation is strengthened by their knowledge stock.•The inverted U-shaped relationship between the cumulative numbers of GFPs and firms’ incremental innovation is strengthened by their knowledge stock.