1.School of Marketing and Logistics,Nanjing University of Finance and Economics,Nanjing 210046,China; 2.School of Business,Nanjing University,Nanjing 210093,China; 3.School of Business,Jiangnan University, Wuxi 214064,China; 4.University of International Business and Economics,Beijing 100020,China
Abstract：This paper shows clearly that there are two mechanisms underlying the relationship between technological diversification and firm performance,Economies of scope and cost of coordination.It argues technological diversification affecting firm performance depends on which mechanism plays a decisive role.It also examines the moderating role of the level of investible resources available to the firm,environmental dynamism and institutional environment with Chinese characteristics on the relationship between technological diversification and firm performance.The paper uses an unbalanced panel data between 2009 and 2012,from 286 public companies listed on GEM in China.Results show that the relationship between technological diversification and firm performance is negatively moderated by the level of the constraint of investible resources available to the firm and environmental dynamism,but positively moderated by institutional environment.Besides that,we also find that the negative effect of the constraint of investible resources on the relationship between technological diversification and firm performance is negatively moderated by environmental dynamism,but positively moderated by institutional environment.The study shows that the corporation should consider internal resources and external environment when making its technological diversification strategy choice for the purpose of competitive advantage.
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2016, 
