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25 April 2015, Volume 36 Issue 4 Previous Issue    Next Issue

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Innovation policies and mechanisms: Evidences from four industries in China Wang Gang, Li Xianjun, Zhang Bowen, Meng Donghui, Gao Ge 2015, 36(4): 1-10.  Abstract ( 1151 )   PDF (1KB) ( 799 )   The mainstream innovation theory cannot make reasonable explanations to the particular phenomenon that China's industries are large in scale but weak in innovation capabilities. Domestic academics pay little attention to integration in innovation policies and mechanisms. On this background, this research explores and establishes the theory of innovation policies and mechanisms based on the perspective of sectoral system of innovation by employing the method of multi-case study based on building a theory as the goal and byassisting with statistical analysis method. We select automobile, household appliances, aerospace and computer as case study industries, and collect large sample data to test hypotheses we built. Our findings show that: innovation policy has a positive effect on innovation, of which the government procurement policy has the largest positive impact on innovation; innovation policy has a positive effect on innovation mechanism, and this effect on incentive mechanism is more significant than on operational mechanism; and innovation mechanism also has a positive effect on innovation, and the role of incentive mechanism is more important than operational mechanism, while the impact of material incentive is larger than non-material incentive. References | Related Articles | Metrics

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A study of complementarities between internal R&D and external R&D in enterprises' innovation management: A data analysisbased on China's large and medium-sized enterprises data Liu Keyin, Xuan Yong, Chi Renyong 2015, 36(4): 11-21.  Abstract ( 1199 )   PDF (1KB) ( 795 )   Although many management consultants suggest that enterprises can outsource some technology developing activities, but the nature of effects and the conditions between internal R&D and external technology acquisitions are poorly understood. This paper constructs an innovation production translog function, and we apply the innovation input-output data of large and medium-sized industrial enterprises in China's 31 provinces to test the complementarities between internal R&D and external R&D. The research results show that, when the enterprise has stronger ability to absorb technology, large economies of scale and the technology transfer experiences, the degree of complementarities between internal and external R&D is strong. The results also show that enterprise's R&D investment (technology development) and external technology purchasing are substitutability. It shows that the substitution and complementarities of external technology are different at enterprise's different stages and different forms of technical activities. References | Related Articles | Metrics

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A research on the relation between R&D and design based on the complementary assets Guo Wen, Zhang Hongyun 2015, 36(4): 22-29.  Abstract ( 883 )   PDF (1KB) ( 622 )   Design has become the strategic focus of different countries in improving value added products as well as acquiring industry and national competitive advantage. Meanwhile, design would be important complementarities for research and development because it could provide a total solution for consumers by integrating interdisciplinary knowledge. Based on the theory of complementary assets, and through the method of questionnaire and statistical analysis, this paper tentatively discussed the complementary relation between R&D and design. The paper proposes that design has not acted as complementary assets to research and development in our respondent enterprises. Furthermore, symmetric relation between design and R&D has not been formed. References | Related Articles | Metrics

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A study on cluster enterprise technology innovation selection based on the evolutionary game Yu Binbin, Yu Lei 2015, 36(4): 30-38.  Abstract ( 1111 )   PDF (1KB) ( 727 )   The cluster enterprise is the micro foundation of cluster innovation, and rational selection of technological innovation mode is the key to enhance the innovation ability of the cluster. This paper analyzed the internal decision-making mechanism of cluster innovation mode selection by constructing evolutionary game model with 201 questionnaires of five industrial clusters in Shaoxing as the basis for empirical testing. The study found out that:(1) the proper consideration of independent innovation and collaborative innovation costs and benefits of technological innovation is the key factors for selection decision based on the enterprise scale,financial strength and technological accumulation; (2) new product update rate and the degree of cooperation with suppliers or vendors is significant positive correlation with cluster innovation ability of enterprises; (3)the degree of enterprise competition,enterprise independent brand and enterprise scale can significantly promote the innovation ability of cluster enterprise 's innovation of independent innovation; and (4) technical cooperation with universities and research institutes,the local logistics efficiency exist a significant positive correlation with cluster enterprise innovation ability of selection of cooperative innovation. References | Related Articles | Metrics

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Optimal allocation of control rights based on hold-up to each other Dang Xinghua, HanJin, Chen Minling 2015, 36(4): 39-47.  Abstract ( 970 )   PDF (1KB) ( 655 )   Based on incomplete contract, from the angle of relieving investor and entrepreneur hold up the other party, based on extending the risk preferences of entrepreneur and assuming firm's state variable, by introducing the entrepreneur's ex ante effort, entrepreneur and investor's bargaining power, firm's interim performance signal, investor's investment, manage and monitor cost, project's liquidation values, etc., the paper builds up the model of dynamic control rights allocation in VC-backed firms, by comparing the investor and entrepreneur's payoffs and firm's value of different control rights allocation, to determine the optimal control rights allocation. The results of research show that, investor control and contingent control alternate to realize the optimal control rights allocation: when the entrepreneur's bargaining power is stronger or lower, and if the firm's performance signal is lower, the investor control allocation can be optimal, and the firm's value does not change; when the entrepreneur's bargaining power is lower and is lower than the threshold, and if the firm's performance signal is higher, the contingent control allocation can be optimal, otherwise the investor control allocation can be optimal, the firm's value changes according to the change of each variable. References | Related Articles | Metrics

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Ownership concentration, managerial compensation and technology innovation choices Yang Huijun, Yang Jianjun 2015, 36(4): 48-55.  Abstract ( 1087 )   PDF (1KB) ( 659 )   We analyze the impacts of ownership concentration on technological innovation based on the agency theory and innovation theories. By introducing managerial compensation as mediate variable, we construct the logical relationship of "ownership concentration-managerial compensation-technological innovation" . After testing our hypotheses utilizing data of 182 companies from Chinese manufacture and high-technology industries with EFA,CFA an SEM analyses,we find that managerial compensation mediate the relationship between ownership concentration and technological innovation;and ownership concentration is negativity related to managerial short-term compensation, but is positively related to managerial long-term compensation. Moreover, short-term compensation goes against radical innovation, but long-term compensation promotes both radical and incremental innovation. References | Related Articles | Metrics

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Political connections, institutional environment and R&D expenditure Li Shitian, Qiu Weinian 2015, 36(4): 56-64.  Abstract ( 1174 )   PDF (1KB) ( 772 )   R&D Expenditure is one of the important indicators to measure enterprises' independent innovation abilities. Based on the disclosed 2009-2010 R&D Expenditure of Chinese listed companies of manufacturing and IT industry, this paper analyzes the influential factors on R&D expenditure from the perspective of political connections and institutional environment by using correlation and WLS methods. The empirical results show that political connectedfirms have less level of R&D expenditure, and firms with better institutional environment in its province have less level of R&D expenditure. The research has reference value on explaining low R&D expenditure level of Chinese firm and reflecting incentive mechanism for Chinese entrepreneurs' initiative spirit. References | Related Articles | Metrics

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The binary equilibrium of the structure of technological diversity, coherence and performance of exploratory innovations Lin Ming, Ren Hao, Dong Birong 2015, 36(4): 65-72.  Abstract ( 926 )   PDF (1KB) ( 693 )   The exploratory innovation plays an important role in upgrading, which can change the trajectory of technology. An analysis of the relationships between binary equilibrium of related and non-related technological diversity, coherence and performance of exploratory innovations is made based on the panel data of 83 China listed electronic companies, and the results of Random-Effects Negative Binomial Model analysis indicate that, firstly, there is an inverted U-shaped relationship between relatively related technology diversification and performance of exploratory innovation, that is, binary equilibrium of related and non-related technological diversity maximizes performance of exploratory innovations; andsecondly, under the background of China transition economy and faced with dynamics of environment, enterprises may reduce the path dependence, and be prone to search, integrate and utilize non-related technology. Therefore, Coherence may not positively moderate the relationship between relatively related technology diversification and performance of exploratory innovation. Thus, in order to promote performance of exploratory innovation, enterprises should keep the balance between related and non-related technological diversity. References | Related Articles | Metrics

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A study on industrial carrier allocation in strategic emerging industries Zhang Zhitong, Li Tianzhu, Yin Lu, Ma Jia 2015, 36(4): 73-81.  Abstract ( 1231 )   PDF (1KB) ( 745 )   To improve current research about industrial carrier allocation in strategic emerging industries, this study proposes to allocate the carrier based on the rules in the evolution from emerging technologies to the industries. Adopting the methods of theoretical analysis and the case study, the evolution process of strategic emerging industries has been divided into three main steps, including gestation, growth and development. According to the specific and actual demands from industrial carriers in different steps, the industrial carrier allocation model in strategic emerging industries has been structured, and the rules of which has been analyzed from the synergy of soft and hard carriers. Combined with the characteristics of bio-pharmaceutical industrial innovation, like "relay innovation", "science business" and so on, the industrial carrier allocation strategies in bio-pharmaceutical industries are analyzed empirically based on the application of industrial carrier allocation model. References | Related Articles | Metrics

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The impact of R&D investments in state-owned enterprises on the innovative behavior of private-owned enterprises Yang Zhi, Yan Zebin, Yu Linhui, Xu Junhui 2015, 36(4): 82-90.  Abstract ( 1381 )   PDF (1KB) ( 749 )   Using the sample of Chinese Manufacturing firms from 2005 to 2007, this paper investigateswith Tobit regression model the impact of state-owned enterprises (SOEs)'s R&D input on innovative behavior of private-owned enterprises (POEs), and how this impact is moderated by different extent of regional agglomeration and industrial competition. We find that: (1) POEs' innovation input decreases significantly as the regional and industrial SOEs' R&D input increases, namely SOEs' R&D input has a crowding-out effect on POEs' innovation input; (2) the crowding-out effect will be strengthened significantly in the regions and industries with high agglomeration; and (3) the crowding-out effect will be weakened significantly in the regions and industries with high competition. This paper aims to provide favorable policy suggestions for the government to efficiently allocate government R&D resources and transform the innovation strategy from government-led innovation to enterprise-led innovation. References | Related Articles | Metrics

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Patent technology licensing and innovation performance of licensee firms: The moderating effects of three different types of proximity Liu Fengchao, Wu Delin, Ma Rongkang 2015, 36(4): 91-100.  Abstract ( 1016 )   PDF (1KB) ( 713 )   Using the data of patent licenses and patent applications in 2000-2010 from the State Intellectual Property Office in China, this paper studies the impact of patent technology licensing on firm innovation output, and examines the moderating effect of three types of proximity on the relationship between them. The results show that patent technology licensing plays a significant role in promoting firm innovation output, and this relationship is moderated by different types of proximity. Specifically, the technological proximity negatively moderates the impact of patent technology licensing on innovation performance of licensee firms, while the organizational proximity positively moderates the relationship between patent technology licensing and firm innovation performance. By contrast, the moderating effect of geographic proximity is not significant. References | Related Articles | Metrics

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A research on the anti-risk ability in regional circular economy system based on the perspective of networking ties Wang Faming, Yu Zhiwei 2015, 36(4): 101-108.  Abstract ( 1185 )   PDF (1KB) ( 742 )   Based on the analysis on regional circular economy system network structure and the characteristics of networking ties, the main constitutive factors of enterprise anti-risk ability are analyzed and the anti-risk index can be measured in two ways: official one and unofficial one. Then an assumption of the effects of networking ties and their measure variables on enterprise anti-risk ability in regional circular economy system is proposed; the Structural Equation Modeling (SEM) is established and an empirical research is conducted by questionnaires. The results indicate that official networking ties have significant positive effect on enterprise anti-risk ability in regional circular economy system, while unofficial networking ties do not have much effect on enterprises' innovation. References | Related Articles | Metrics

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An empirical analysis on the coupling of regional industry innovation and industry upgrading:A case of the Pearl River Delta Region Xu Ye, Tao Changqi, Ding Hui 2015, 36(4): 109-117.  Abstract ( 1011 )   PDF (1KB) ( 718 )   With the help of coupling defined in physics, this paper systematically analyzed the coupling mechanism between regional industrial innovation and industrial upgrading, established an evaluation system and a coupling model of regional industrial innovation and industrial upgrading, and made an empirical analysis through the model of coupling of China's Pearl River Delta region during 2003-2011. This study found out that there exists a coupling relationship of elements, organizational structure and institution between industrial innovation and industrial upgrading. The empirical results show that the coupling correlation and the coupling coordination of industry innovation and industry upgrading of the Pearl River Delta region are in a low-level, but since 2003, they have been rising slowly, and there is much room for improvement in the future. References | Related Articles | Metrics

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A spatial panel econometrics analysis on industrial R&D, university-industry cooperation and innovation performance Wu Yuming 2015, 36(4): 118-127.  Abstract ( 1136 )   PDF (1KB) ( 650 )   Using the industrial panel data on China's provinces, the author estimates the R&D stocks based on perpetual inventory method, and employs spatial panel econometrics regression models to positively analyze the contributions of industrial R&D investment, university R&D investment, and university-industry cooperation investment to the enterprise's innovation performance. The results show that classical OLS method without including the regional spatial dependence and heterogeneity may lead based results. The study of spatial panel econometric models including the spatial dependence and heterogeneity show that there exists obvious spatial autocorrelation and independence for Chinese patent and new product innovation, and there is spatial adjacent local cluster effects for patent innovation and spatial adjacent local spillover effects for new product innovation. The R&D investment of capital and manpower of enterprise have significant contributions to innovation performance while impact of university R&D investment is not obvious, while university-industry cooperation together with human capital do have obvious contributions. The conclusions are of great significance to promote synergetic innovation capability. References | Related Articles | Metrics

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A mechanism analysis of the impact of outsourcing in service on the total factor productivity of services industry Yao Xing, Li Biao, Wu Gang 2015, 36(4): 128-135.  Abstract ( 1132 )   PDF (1KB) ( 658 )   This empirical research studies the impact of four different service outsourcing in China on its total factor productivity (TFP) and further explores the impact mechanism, by using systematical generalized method of moments (GMM) based on both the WIOD and the panel data of service sector in China (2005-2010). The statistical results suggested that: (1) the TFP of service sector is negatively related with offshore outsourcing and domestic contracting while positively influenced by domestic outsourcing and offshore outsourcing; (2) offshore outsourcing and domestic contracting negatively influence the TFP through significantly impeding technique and efficiency enhancements; and (3) domestic outsourcing and offshore contracting enhance the TFP of service sector due to their positive effects on achieving technical improvements. Therefore, this research suggests that China should make more effort to improve the whole industry scale and developing ability of service sector, and reinforce the integration of service and manufacturing sectors, in order to enhance the TFP in service industry. References | Related Articles | Metrics

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Incentive mechanism in application service outsourcing with considering cooperation time Tang Guofeng, Dan Bin 2015, 36(4): 136-144.  Abstract ( 931 )   PDF (1KB) ( 678 )   Incentive mechanism design is the most effective method to solve moral hazard problem of application service outsourcing. Cooperation time has an important impact on the incentive effect of application service outsourcing contract. Focused on the problem of how the cooperation time impacts the design of application service outsourcing incentive mechanism, the two-stage Stackelbergmodel is established to analyze the relationship between cooperation time and contract incentive effect under asymmetric information of service capabilities and effort level. The conclusions imply that the incentive effect of the contract increases with the revenue sharing proportion under longer cooperation time and decreases under shorter time; the customer enterprise should decrease the revenue sharing proportion with cooperation time. References | Related Articles | Metrics

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Reshaping strategies for incumbents' business models when faced with subversive threats Li Yongfa, Li Dong 2015, 36(4): 145-153.  Abstract ( 1042 )   PDF (1KB) ( 646 )   This paper focuses on how incumbents reshape business models when faced with entrants' subversive threats. So we design a "gear" expression model for business models consisting of two components, namely the value proposition and implement system of value proposition, then by combining Casadesus-Masanel&Ricarta's two-period game model, we develop a general framework for constructing business model, which consists of five components: situation, value proposition, implement system of value proposition, strategy and tactics. Using this general framework, the paper deduces the process of incumbents constructing business models and playing game with entrants in the monopolistic market and duopolistic market by establishing the mathematics model, find out that the business model really affects enterprise's competitiveness, and the value proposition or its implement system should be innovated when the product quality of incumbent is lower than that of its competitors.. References | Related Articles | Metrics

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A study on the interaction between green growth patternand enterprise growth based on the VAR Model Chen Xinghong, Wu Chunyou, Kuang Haibo 2015, 36(4): 154-160.  Abstract ( 962 )   PDF (1KB) ( 668 )   With the transformation of economic growth mode, green growth has become a main pattern of global economic growth in the future. The enterprise is the main carrier of economic growth in the country or region, and the implementation of green growth for the enterprise growth will determine the economic growth trends. Therefore, identifying the dynamic interactive relationship between green growth and enterprise growth can provide theoretical guidance for the enterprise economic growth. This paper selects related indicators of green growth and enterprise growth in the period of 1998-2012, builds up the VAR model of green growth and enterprise growth, analyzes internal relations, interaction mechanisms and development trends of green growth and enterprise growth with co-integration test, impulse response function and variance decomposition method. The result shows that green growth and enterprise growth are both in the fluctuant state in the short term, but there is a long-term equilibrium relationship. In other words, the implementation of green growth would make the enterprise growth slow down in the short term. However, under the role of the green growth, the enterprise growth will reach a higher development stage in the long term. Meanwhile, enterprise growth can also promote the implementation of green growth effectively, and both of them will finally reach a positive interaction of development status. References | Related Articles | Metrics