On the basis of matching theory and game theory, this paper established a two-stage model of cooperative innovation between enterprises and universities. The model shows that the successful cooperative innovation depends on universities' high R&D efforts and enterprises' high level of equipment investment. However, in a two-stage process of cooperation, coordination failure and high re-matching cost may inhibit investment efforts of both sides, and leading to cooperation failure. Using the panel data of China's inter-provincial cooperative innovation between universities and industrial enterprises, the paper further explore the impact factors which influence the re-matching of collaborative innovation. Econometric analysis showed that the higher proportion of new technology development and investment in a region, the thicker of the university-enterprise cooperation "market". The match cost is low, and the cooperative innovation goes towards a virtuous circle. Meanwhile, the government's funding may reduce the possibility of separation and coordination failure of cooperative innovation between enterprises and universities.
Key words
university /
cooperative innovation /
coordination failure /
re-matching
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