Innovation output and state ownership: empirical evidence from China’s listed firms
Innovation output and state ownership: empirical evidence from China’s listed firms
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DOI：
10.1080/13662716.2018.1456323
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发表时间：
2019-02
影响因子：
3.9
通讯作者：
H. Kroll;Kou Kou-Kou
中科院分区：
文献类型：
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作者：
H. Kroll;Kou Kou-Kou
摘要中国经历了创新产出的激增，国有企业（SOE）在其中发挥了至关重要的作用。本文利用中国上市公司的面板数据，从企业层面考察了国有股权对创新产出的影响。在控制规模的情况下，我们分析了中央和地方政府控制对不同时期企业专利申请数量的影响。这样做，国家所有权的抑制性的标准假设得到证实。然而，我们通过为不同地区和行业运行单独的模型来验证这些发现，发现国家控制对创新绩效的影响取决于许多条件。更准确地说，国家对企业的控制对创新产出有负面影响，特别是在中国的东北地区和中技术部门，而在其他情况下，它要么无关紧要，要么甚至可以产生积极的影响。
Abstract China has experienced a surge in innovation output in which state-owned enterprises (SOE) play an essential role. Using panel data of Chinese listed firms, this paper examines the influence of state ownership on innovation output at the firm level. Controlling for size, we analyse the effects of central and local government control on the number of firms’ patent applications in different time periods. Doing so, standard assumptions on state ownership’s inhibiting character are confirmed. However, we then qualify these findings by running separate models for different regions and sectors finding that the impact of state-control on innovation performance depends on a number of conditions. More precisely, state control of firms has a negative impact on innovation output in particular in China’s Northeast region and in mid-tech sectors whereas under other circumstances it does either not matter or can even exert a positive influence.