Effect of HTE certification on external resource acquisition and firm performance: evidence from China.

This paper argues that the high-tech enterprise certification (HTE certification) can facilitate firm performance and that this effect is mediated by external resource acquisition, including venture capital and human resource in the context of China. Using the Chinese industrial enterprise database and difference–in-difference approach, our results indicate that: (a) HTE certification is positively associated with external resource acquisition, namely, venture capital and human resource; (b) both venture capital and human resource are positively related to firm performance and (c) the external resource acquisition including venture capital and human resource mediates the relationship between HTE certification and firm performance. [ABSTRACT FROM AUTHOR]