ABSTRACT
This study examines the association between the enterprise life cycle and R&D. This paper finds that the resource base and competitive advantages allow mature firms to invest more in R&D than firms at other stages of the enterprise life cycle. We further examine the role of consumer empowerment in explaining the relation between the enterprise life cycle and R&D. Our results show that consumer empowerment moderates the association between them. These findings are robust when subjected to a series of tests. The significance of this paper has the following aspects First, it helps to provide strategic guidance for enterprise R&D. Second, it helps enterprises fully recognize and effectively use the power of consumers. Third, the research on enterprise R&D from the perspective of enterprise life cycle enriches the relevant theories of the influencing factors of enterprise investment. Fourth, this paper extends the application scope of consumer empowerment and enriches the theory of consumer empowerment to a certain extent.
