Money is not everything: funding investment and dual performance of key universities in China

Abstract

In order to clarify whether, how and when the increasing S&T fund investment to improve innovation performance, based on the resource-based view (RBV) and panel data of key universities in China, we construct basic research intensity and experimental development intensity to analyse the functional mechanism between ‘fund investment– different intensity of research types—economic and social performance’. We found: (1) the increasing fund investment cannot improve economic performance, but has a positive relationship with social performance. (2) The fund investment of key universities can rapidly improve economic performance only if they are invested in experimental development, while investing in both basic research and experimental development can improve social performance. (3) The effect of fund investment on economic performance needs at least lagged 1 year to turn positive, while its promoting effect on social performance is significantly positive only in the first 2 years. Our research further enriches the subject category and core argument of RBV.

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