The Impact of Dual Technological Innovation on the Performance of Agricultural and Sideline Food Processing Enterprises: An Empirical Analysis of 36 Listed Chinese Companies

Abstract

Technological innovation significantly impacts enterprise performance, yet existing research predominantly focuses on high-end industries, lacking empirical studies in the agricultural and sideline food processing sector. This study addresses the substantial differences in internal production models within agricultural and sideline food processing enterprises. By classifying these enterprises based on production models and employing panel models, this research explores the effects of exploratory and exploitative technological innovation on economic added value, solvency, profitability, and development capabilities.

The findings indicate that, overall, exploratory technological innovation negatively impacts the solvency of agricultural and sideline food processing enterprises, positively influences their profitability and development capabilities, and adversely affects their economic added value. Within specific subcategories, the performance of feed, breeding, slaughtering, and meat processing enterprises aligns with the overall industry trend. However, prefabricated food and snack food enterprises show no investment in exploitative innovation, and exploratory technological innovation negatively affects their performance. In grain, oil, and grain processing enterprises, exploratory technological innovation detrimentally impacts performance, and exploitative technological innovation negatively affects economic added value. Conversely, in sugar and biological additive enterprises, exploratory technological innovation positively influences economic added value.

This study enriches the research on dual innovation and provides valuable insights for adjusting innovation strategies and scientifically allocating innovation investments in the subcategories of the agricultural and sideline food processing industry.