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This paper explores the different model combinations of enterprise innovation in China based on the roles of social capital and dynamic capabilities. We implement Qualitative Comparative Analysis to understand the non-linear asymmetric relationships better. We use the data of 44 Listed Companies in China's high-end equipment manufacturing industry and find that three innovation models (the market-oriented independent innovation, government-supported technological innovation and industry-supported learning innovation models) are valid. Social capital, dynamic capabilities, and intra-industry networks are the main determinants of these innovation models. We also discuss the implications of these innovation dynamics on Chinese enterprises as a way to sustain the economy's high-quality development, including during the era of the COVID-19 pandemic crisis.

Innovation Model of China's High-End Equipment Industry: Do Social Capital and Dynamic Capabilities Matter for the COVID-19 Crisis?