Impact of Market Orientation on Technological Innovation

Zhoucan Xu

Chapter 30 in Internet Finance and Digital Economy:Advances in Digital Economy and Data Analysis Technology, 2023, pp 417-431 from World Scientific Publishing Co. Pte. Ltd.

Abstract: The application of information technology can effectively alleviate “information asymmetry” and reduce the uncertainty of technology, customers, competition, and resources faced by enterprises in the process of innovation. Based on the analysis of market orientation, strategic flexibility, and technological innovation, this paper constructs a conceptual model and presents its relevant hypotheses. We have conducted a large-scale questionnaire on various enterprises across many provinces and cities in China and got 405 valid questionnaires. This paper firstly uses SPSS22.0 to conduct a preliminary analysis of the questionnaires and evaluates the reliability and validity of the model. Then this paper performs descriptive statistical analysis on the data of each variable and obtains the mean, standard deviation, and correlation coefficient of each variable; as shown in Table 2, the correlation analysis results are consistent with the hypothesis in this paper. Then this paper conducts hierarchical regression analysis and hypothesis testing. As shown in Table 3, all regression models have passed the F test; the overall significance of each model is good, and each hypothesis has been verified. Empirical testing results show that market orientation is conducive to cooperative innovation and not conducive to independent innovation; market orientation is conducive to improving the resource flexibility and competence flexibility of enterprises; resource flexibility is beneficial for enterprises to undertake independent innovation and not beneficial for enterprises to undertake cooperative innovation; competence flexibility is beneficial for enterprises to take independent innovation and cooperative innovation. Finally, this paper puts forward four implications for China’s enterprises to use information technology to obtain market information to meet customer demands and promote technological innovation.

Keywords: Internet Economy; Online Finance; Financial Engineering; Big Data; Blockchain; Supply Chain; E-commerce (search for similar items in EconPapers)
JEL-codes: G2 O33 (search for similar items in EconPapers)
Date: 2023
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