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Construction of national emergency scientific research mechanism in China: The experiential facts and policy approaches Liang Zhong 2023, 44(5): 1-8.  Abstract ( 249 )      Under the strategic vision of the overall national security concept, in order to promote the rapid embedding of scientific and technological research and development forces in the field of major public crisis response,it has become an important subject in the process of modernization of national security and innovation governance to explore the construction of a well-structured and orderly national emergency scientific research mechanism and improve the ability of systematic against major risk challenges.     Therefore, based on the empirical facts of emergency scientific research disposal since China′ s reform and opening up, it has been continuously strengthened from segmentation to multi-level, multi-agent and cross-departmental coordination, from a single "administrative command line"to a parallel integration of "administrative command line" and "academic command line". This paper systematically analyzes the practical evolution logic from the "single disaster ", "short-term" and "single case-based"emergency scientific research disposal mechanism to the construction of an institutionalized emergency disposal framework that points to multiple disasters, multi-scale and "integration of emergency standing force and professional force", and to clarify the internal driving mechanism of change from the two aspects of technical support and institutional guarantee.    On this basis, starting from the connotation analysis and operation characteristics (mainly contain centralized organizational operation, applied scientific research orientation and modular functional structure) definition of the national emergency scientific research mechanism, based on the two-dimensional governance analytical vision of the fusion of national security governance and innovation governance, persisting in system thinking and bottom line-thinking and focusing on the judgment of its theoretical construction direction, this paper tentatively puts forward three levels of logical transformation views: from the "abnormal response" logic characterized by short-term, temporary and passive response to the "strategic existence" logic characterized by active response and long-term orientation; from the "exclusive competition" logic with the maximization of market interests as the innovation appeal to the "diversified cooperative innovation "logic based on the public value creation orientation; from the "closed decision-making"dominated by the internal consultation model to the "open decision-making" based on the high-level cooperative decision-making model.     At the same time, this paper combines the unique realistic scenarios of China′ s emergency scientific research management, starting from the above theoretical logics, and around the three key practical policy issues in the construction of the national emergency scientific research mechanism, and puts forward corresponding policy suggestions for specific practical approaches such as starting the construction of emergency scientific research scenarios for major emergencies, establishing an emergency scientific research response system with active triggering mechanism as the core, and deepening the reform of the command mechanism of the national emergency scientific research center, so as to provide reference for improving the emergency scientific research management system with Chinese characteristics in the new era.     In general, based on the exploratory analysis of the concept, connotation and construction ideas of the national emergency scientific research mechanism, this paper preliminarily answers the direction selection and policy path of the construction of the national emergency scientific research mechanism in the context of the modernization of major power governance in the new era, which makes up for the existing literature gap, helps to expand and enrich theoretical cross-study in the field of emergency management, innovative governance and security governance, and provides a useful reference for the deepening research and related policy formulation of subsequent scholars. Related Articles | Metrics

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Service innovation theory developed in the past 40 years: Research context and development in foreign countries Zhan Jun, Zhang Shun 2023, 44(5): 9-22.  Abstract ( 241 )       Service innovation theories, owing to their unique advantage of being suitable for cross-industry research, become the premium choice among the theories for interpreting firms′ competitiveness differences. The rise of service innovation theory reflects the change of thinking pattern throughout the entire economy, which is essentially a critique and development of previous innovation research paradigms. With the rapid development of new-generation information technologies such as big data, cloud computing, artificial intelligence, and digitalization, service innovation is constantly changing existing operation and business models of the industry, and reshaping existing markets, thus service innovation research faces major challenges. The multi-dimensional characteristics of service innovation determine it as a concept with complex content and scope, and various attributes are intertwined. Currently, the literature reviews on service innovation are limited in number and less broad in perspective; most of them are qualitative studies made through subjective judgment methods, which are less capable of handling a large amount of academic literature and the idiosyncrasies and broadness of service innovation in nature. There is a shortage of source-tracing and panorama-oriented studies, convincing findings on the theories, their evolutions, their latent inter-relationships stay inadequate, the categories of theories and their inter-links within the field remain unclear, and lead to a lack of reliable and efficient findings.     In this paper, academic literature on service innovation research for the past 40 years (1982-2021) was collected in the authoritative database Web of Science (WoS), and innovative research methods were adopted through qualitative and quantitative methods. Employing various kinds of software such as VOSviewer, CRExplore, Metaknowledge overcome the inherent problems like the massive volume of literature, complex contents, and interwoven theories. Based on the outcomes from bibliometric analyses, content analysis, the theoretical classification, the paper clarifies the development veins and potential interconnections of theory from a panoramic view and defines the research focuses and frontiers. The results show that there are nine categories of main theories/perspectives in the scope of service innovation research: Schumpeterian, resource-based view, dynamic capability view, market orientation, absorptive capacity, knowledge-based view, relational/network view, open innovation, service-dominant logic, among which the dynamic capability view and service-dominant logic enjoys the most promising development prospect. Among the nine theories/perspectives, each has a different research subject and direction; however, they co-exist and complement each other, forming a collaborative relationship. Specifically, the classic strategic theories (resource-based view, knowledge-based view, and absorptive capacity) from the inward perspective of the enterprise itself, with more emphasis on competition, supply promotion, and value acquisition. In contrast, market orientation, open innovation, and relational/network view from the extroverted perspective, with more emphasis on partnerships, market pull, and value creation. The dynamic capability view fully considers the internal and external environment faced by the enterprise, and emphasizes the abilities to integrate, build, and reconfigure internal and external resources/competencies to obtain a long-term competitive advantage. As the development of the previous research, the dynamic service innovation capabilities (DSICs) framework is the theoretical sublimation of the dynamic capability view under service context, which makes the operationalization of the dynamic capability feasible under the service innovation background, and promote the unity of the future empirical researches. The service-dominant logic takes value exchange as the pointcut, emphasizes the value co-creation between production and consumption, as well as the integration of internal and external resources, it integrates multiple theories/perspectives of service innovation by introducing the concept of service ecosystem. As a meta-theory, service-dominant logic opens up an unprecedented broad horizon for service innovation research, greatly expands the connotation and application boundaries of existing theories, and makes the antecedents, paths, outcomes, and other elements of service innovation can be placed in a multi-level systematic framework. In general, the dynamic capability view and service-dominant logic are in line with the integration paradigm of service innovation research, with deeper understanding, broader perspective, and more significant logical advantage in solving research problems of service innovation. Also, most studies now focus on service innovation and its effect on performance, ignore the internal and external environment, service types, service stage, and other contextual factors, fail to explore them within an integrated research framework. Besides the innovation in research design and methods, the paper compensates for the current weakness in the service innovation research by revealing service innovation theories/perspectives evolutions, their hidden inner-links, research frontiers, and proposing an integration framework for different service innovation theories. It thus provides future research with direction and references. 〖WTHZ〗Keywords: Related Articles | Metrics

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Impact of platform strategies on ecosystem innovation: A research review and prospects Wang Xin, Xie Qinghong, Wang Jiaxin 2023, 44(5): 23-33.  Abstract ( 187 )       With the development of the Internet and the emergence of platform firms, "platform economy" and "platform ecosystem" frequently appear in the public. To promote the development of the platform ecosystem, platforms are committed to innovation and therefore have made remarkable achievements. For example, Alibaba′s innovative businesses in the e-commerce business, cloud computing, and digital media have facilitated transactions and social interactions among lots of platform participants. Xiaomi′s IoT developer platform has cooperated with partners to build an innovative ecosystem and provided smart products and services to 68 million households worldwide. Apple′s iOS and Google′s Android platform ecosystems have attracted numerous developers and end users. Existing relevant researches focus on the definition, characteristics, opening strategy, competition strategy, and governance strategy, but lack of overview research on the topic of platform ecosystem innovation. It is difficult to fully understand the platform strategy to promote ecosystem innovation, which brings trouble to the practice and theory. It is necessary to comprehensively review and analyze the literature on platform ecosystem innovation to promote the flourishing of the innovative practice and theory of the platform ecosystem.      In this paper, the measurement and statistics of literature clarify the research situation in this field. From the descriptive statistics of the number of publications and published journals in the past years, it is concluded that this topic has a broad research prospect. The results of keyword co-occurrence and emergence detection by CiteSpace 6.1.R6 in 1964 literature show that: First, the keywords with the highest co-occurrence frequency at home and abroad are "ecosystem" and "innovation" respectively. Second, the highest intensity of keywords at home and abroad are "platform enterprise" and "business ecosystem" respectively, which are frontier topics. Furthermore, it sorted out some opinions of key literature and got such meaningful conclusions: First, platform ecosystem in the digital economy refers to a collection of innovative organizations that platform firms as the core connects lots of complementors and end users with digital technologies and standards. Second, from the perspective of the value creation mechanism, the platform ecosystem can be divided into transaction-driven and innovation-driven. Third, transaction-driven value creation follows the service-dominant logic. Platform participants interact in the integration of resources and design of matching rules, which drives the value co-creation of all parties. Innovation-driven value creation follows the value-adding logic, which refers to the platform sponsors providing boundary resources, including software toolkits, application program interfaces, rules, etc., to support the innovation of complements, so that they can create diversified products or services, and realize the value co-creation with the platform. Fourth, this paper summarizes strategies of ecosystem innovation promoted by these two platforms, that is, platform ecosystem innovation is driven by openness, competition, cooperation, and governance strategies. Alibaba′s retail and Xiaomi′s IoT developer platform ecosystems exemplify these strategies.     Future research on platform ecosystem innovation can focus on the following three directions: First, research on platform ecosystem innovation can enrich the Chinese local context. From the view of the number of publications and journals, domestic research is falling behind foreign studies, while the platform economy in China has been developing rapidly in recent years. Given the inconsistency between theory and practice, it is a valuable direction for scholars to explore the unique source of value creation and the platform-enabled innovation strategies, and form the platform ecosystem innovation theory with Chinese characteristics. Second, some exploration is made to the mechanism of the relationship among openness, competition, cooperation, and governance strategies and their influence on innovation. For example, the interrelated policies, such as how platforms implement governance policies by determining the degree of openness, affect ecosystem innovation, is very worthy of discussion. The existing literature on platform strategies only discussed the direct influence on the platform ecosystem innovation but has not explored its impact path. Solving the mystery of the black box would clarify the mechanism of each strategy′s impact on innovation. Third, from the perspective of government scientific supervision, the strategies for maintaining orderly competition among various platform organizations and promoting the high-quality innovative development of the platform market are meaningful research topics. It makes sense to find methods to scientifically regulate the platform market, which are helpful to guide the high-quality development of the platform ecosystem under the new pattern from the macro level. Related Articles | Metrics

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How do latecomers break through managerial constraints——An enlightenment from Huawei′s experiences Zhang Nana, Wang Zhanshuo, Xie Wei, Mei Liang 2023, 44(5): 34-43.  Abstract ( 158 )       Realization of the catch-up goal of latecomer firms is not only restricted by their backwardness of technology, but also limited by the managerial constraints caused by their outdated management ideas, backward management methods and so on. In the face of increasingly fierce international competition, breaking through managerial constraints and improving management capability have become the key for latecomer firms to achieve sustainable catch-up nowadays. Different from the traditional research streams in catch-up field, which used to focus on the backwardness of technology and the process of accumulation and promotion of technological capability of latecomer firms, this paper focuses on the reality of managerial constraints faced by latecomer firms, and pays attention to the process that latecomer firms improve their management capabilities through managerial learning during the period of catch-up. This paper takes a world-famous Chinese domestic company named Huawei as the sample of case study. Based on the method of case study and three-step coding method, this paper explores the managerial constraints faced by Huawei and its managerial learning practice in the catch-up process.       The conclusions of this paper are as follows: (1) Managerial constraint is an important reason for the latecomers to fall into the catch-up dilemma,and its restrictions on the catch-up actions of Huawei are mainly reflected in the low-level following development mode of the strategic dimension, the closed way of technology accumulation in the R & D development process, and the insufficient supply of talents in the human resources management dimension; (2) The complexity of managerial constraints on the catch-up process of latecomers, which is embodied in the multi-dimension and multi-level of managerial constraints. The multi-dimension of Huawei managerial constraints is embodied in strategic management dimension, R&D process management dimension and human resource management dimension, and the multi-level is embodied in strategic level and functional level; (3) The implementation of targeted managerial learning action is the key to break through the managerial constraints of the latecomers.The targeted managerial learning actions taken by Huawei include: the target managerial learning practice based on strategic management benchmarking, the managerial learning practice based on systematic research and development, and the managerial learning practice based on institutionalized human resources management.     The main contributions of this paper are as follows: (1) Supplement the research conclusions of management catch-up dimension for the research field of latecomer firms catch-up by exploring these latecomer firms′ management catch-up actions; (2) It deeply analyzes the improving process of management capability through managerial learning of the latecomer firms, and expands the research conclusions in the field of managerial learning in the catch-up context of latecomer firms.      The research results of this paper have the following practical implications for the implementation of catch-up strategy of latecomer firms in nowadays: (1) The multi-dimensional and multi-level management constraints are the main factors that limit the realization of the goal of catch-up of latecomer firms; (2) The catch-up actions of technology and management dimensions jointly promote the realization of the catch-up goal of latecomer firms; (3) The important mechanism to improve management capability for latecomer firms is to carry out managerial learning. Related Articles | Metrics

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Persistent innovation and high-quality development of financially distressed enterprises Yao Shanshan, Duan Haiyan 2023, 44(5): 44-53.  Abstract ( 133 )       High-quality development of enterprises remains the main theme of China′s economic development, however, existing research mainly focus on financially healthy enterprises, few literatures pay attention to the increasing number of financially distressed enterprises. By the end of 2021, about 800 Chinese listed companies have received special treatment (abbreviation for “ST”) penalty, which is usually been considered as in financial distress, and gradually become an indispensable part of the economic system. In addition, 40.7% of ST firms get back into financial distress again after relieving ST penalty, the development quality of distressed firms is far from ideal. Avoid getting into or getting back into financial distress is the guarantee of enterprises′ sustainable development, therefore, the high-quality development of financial distressed enterprises needs to be urgent and deep-going studied.      Innovation is regarded as the best way to achieve high-quality development of enterprises. However, previous studies have shown that innovation is accompanied with high risks, which may diminish the incentive for distressed firms to conduct persistent innovation after relieving ST penalty. To this end, this study tries to uncover this mystery. Taking 2007-2021 ST firms which have relieved ST penalty as samples, this study adopts Cox′s proportional-hazards model, which is most widely used in survival analysis method, to explore the effect of persistent innovation and high-quality development of distressed firms, as well as the internal mechanisms of production efficiency, financial risk and commercial performance and the moderate effect of excessive indebtedness. The results show that: after relieving ST penalty, persistent innovation can significantly reduce the probability of getting back into financial distress again, which contribute to development quality of distressed enterprises. Mechanisms show that, persistent innovation can significantly improve production efficiency and commercial performance to reduce the probability of getting back into financial distress again. Excessive indebtedness negatively moderates the relationship between persistent innovation and high-quality development of distressed enterprises.      This study has several theoretical implications: firstly, the high-quality development of distressed enterprises is constructed by two dimensions: including whether they get back into distress again and the duration time from relieving ST penalty to getting into distress again, which expanded the research depth of high-quality development of distressed enterprises. Secondly, based on external pressure theory and stakeholder theory, this paper extents the internal mechanism effect of persistent innovation, consisting of production efficiency, corporate financial risk and commercial performance. Finally, by introducing the moderating variable of excessive indebtedness, this study reveals the boundary conditions of persistent innovation on high-quality development of distressed enterprises.       This study also provides several management implications: firstly, distressed enterprises should pay attention to the role of persistent innovation, which can be regarded as one of the effective ways to achieve high-quality development. Meanwhile, disclosure of innovative information should also be strengthened to establish a good image through the media attention effect. Secondly, investors could incorporate persistent innovation performance of ST firms into the investment decision-making framework to improve return and reduce risk. Thirdly, government and regulatory authorities are supposed to create a better institutional environment, including resource support and system guarantee, which facilitate ST firms to carry out persistent innovation activities, and further to truly get rid of financial distress. Related Articles | Metrics

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FDI quantity, quality and innovation performance of national high-tech zone in China Zhang Xiufeng, Hu Beibei, Chen Wei, Zhang Shujing 2023, 44(5): 54-61.  Abstract ( 220 )       The national high-tech zone is a key carrier for China to implement efficient innovation, attract international innovation resources and elements, and develop high-tech industries. In 2019, the actual amount of FDI attracted by enterprises in the high-tech zone reached 382.76 billion yuan in RMB, accounting for 40.7% of the country′s total (941.5 billion yuan).It has become the main force for China to learn from global innovation and obtain economic resources, and it plays an important role in the construction of domestic and international dual-cycle development pattern.     At present, China is in a critical period of accelerating innovation-driven development, and the national high-tech zone is an important carrier to promote innovation development. Therefore, to clearly understand the role of FDI is the key to strengthen the international circulation and realize the effective allocation of international resources and elements，which has important theoretical and practical significance for promoting the high-quality development of national high-tech zones.     Currently, only a few studies have focused on the impact of FDI on the production efficiency and technology spillovers of national high-tech zones, while other studies pay attention to their performance evaluation and related factors. These research results all indicate that FDI can have an impact on the production or technical efficiency of national high-tech zones through knowledge or technology spillovers. However, these studies generally only analyze from the perspective of FDI quantity, and do not systematically and deeply analyze whether the mechanism of FDI on the innovation performance of national high-tech zones is affected by the high-tech zone′s own knowledge or technological level.     Based on the panel data of 52 national high-tech zones in China from 2008 to 2018, this paper analyzes the impact of FDI quantity and FDI quality on the innovation performance using the knowledge accumulation as the threshold variable via the Hansen nonlinear panel threshold regression model. The research results show that there is a complex nonlinear relationship between FDI quantity and quality and the innovation performance. When the level of knowledge accumulation is lower than the threshold 1, FDI quantity has a significant positive impact on the innovation performance of high-tech zones, that is, it can significantly improve their innovation performance. While the level of knowledge accumulation exceeds threshold 1, the impact of the FDI quantity on the innovation performance is no longer obvious. When the level of knowledge accumulation is below the threshold 1, the FDI quality has a significant negative impact on the innovation performance; while the former exceeds the threshold 1, the latter has an obvious positive impact on the innovation performance. When the former exceeds the threshold 2, the marginal effect of the positive impact of the FDI quality is further enhanced, that is, improving the FDI structure and quality can significantly upgrade the innovation performance of the national high-tech zone. These research results provide a theoretical reference for the national high-tech zone to achieve high-quality development.     Combined with these research conclusions, three policy recommendations are put forward: firstly, in light of the high-quality development policy of the national high-tech zone, it is necessary to formulate new FDI introduction policies and screening systems that focus on FDI quality, and encourage enterprises in high-tech zones to actively integrate global high-level innovative resources and elements to achieve high-quality development. The second is to further improve the knowledge accumulation level of the high-tech zone and lay the foundation for the integration of global high-quality innovation resources. That is to say, with high-tech enterprises as the main body, it needs to increase the intensity of talent attraction and training, especially high-level talents. Meanwhile, it needs to increase and optimize science and technology investment, promote enterprises to carry out high-quality R&D and innovation activities. With the improvement of the knowledge accumulation level of enterprises, the ability of the high-tech zone to integrate global innovation resources has finally been improved. Related Articles | Metrics

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Research on driving mechanism of innovation ecosystem evolution under digital transformation Yang Bai, Chen Yinzhong, Li Haiyan 2023, 44(5): 62-69.  Abstract ( 212 )      Innovation ecosystem has the characteristics of complexity, openness, self-organization and habitat. It is an important organizational form for a country or region to carry out innovation. The successful practice of Silicon Valley showed that constructing an innovation ecosystem was a great significance to stimulate the innovation vitality and build competitiveness of a country or region. Under the background of the new round of scientific and technological revolution and industrial reform, group innovation characterized by intelligence, green and ubiquitous has triggered a major adjustment of the international industrial division and disruptive technologies. It is reshaping the world competition pattern and changing the power balance between countries or regions. Implementing innovation driven development has become the general trend of world competition and the core strategy for countries or regions to seek competitive advantage. Focusing on constructing innovation ecosystem has become an important way of implementing innovation driven development.    China′s economic development has entered the new normal.The important feature is that economic development has changed from factor and investment driven to innovation driven. Innovation has become the fundamental driving force to promote China′s high-quality economic development. In recent years, with the implementation of innovation driven development strategy, China′s innovation driven development has made remarkable achievements. However, there are still some problems, such as weak ability of original innovation, insufficient diversity of innovation subjects, low efficiency of the use of scientific and technological resources, imperfect mechanism of industry-university-research collaborative innovation and transformation of scientific and technological achievements. As a high-level organizational form for carrying out innovation activities, the connotation of innovation ecosystem meets the requirements of innovation driven development and construction a powerful country in scientific and technological innovation.      Therefore, following the logic and paradigm of innovation ecosystem, improving the original innovation ability, building a diversified innovation subject and deepening the collaborative innovation of industry-university-research are undoubtedly the key to China′s adhering to innovation driven development and accelerating the construction of a powerful country in scientific and technological innovation.     The development and application of new generation digital technologies such as big data,AI and IOT have accelerated the transformation of economic and social activities to digitization and profoundly changed all aspects of economic and social development. The embedding of digital technology is profoundly changing the value co-creation mode of innovation ecosystem and the relationship between innovation subjects, and expanding the theory of innovation ecosystem. Therefore, with the advent of the digital economy era, the mechanism of innovation ecosystem evolution under the digital transformation has aroused the attention and thinking of the academia. However, throughout the existing research literature, there are still few research literatures to carry out in-depth discussion on this topic. Basing on this, the paper deeply discusses the reconstruction of innovation ecosystem by digital transformation from the aspects of space-time boundary, species composition and innovation methodology, then the paper focuses on the driving mechanism of innovation ecosystem evolution under digital transformation from the two levels of digital technology and data resources. Specifically, digital technology stimulates high-frequency innovation by reducing the uncertainty of innovation activities; Enhances the integration and generation of innovation ecosystem, improves the integration ability of innovation resources and the accumulation and diffusion speed of innovation knowledge; Strengthens the communication and coordination, deepens the system communication and coordination mechanism etc to drive the sustainable evolution of innovation ecosystem. Data resources stimulate innovation vitality by improving the innovation ecosystem value co-creation model; Promote innovation accelerating iteration, maintains efficient innovation etc to drive the continuous evolution of innovation ecosystem. Related Articles | Metrics

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International dependence network structure of chip technology and its evolution Yu Rongjian, Zhao Yizhi, Xiang Liyao 2023, 44(5): 70-84.  Abstract ( 144 )         In order to solve the dilemma that China′s key core technologies are "under stranglehold" by developed countries, we need to scientifically evaluate the international dependence of key technologies among countries. In view of theoretical disputes and measurement methods in the existing research on technology dependence, based on the resource dependence theory, this paper constructs a measurement model of technology dependence that includes four dimensions: technological structure difference, technological level gap, technological value and substitutability. Chip technology is a typical "stranglehold" technology, and its development level has become one of the important symbols to measure the international competitiveness of a country or region. It is of great practical significance to evaluate the international dependence of chip technology.       In this paper, 4 technology modules and 15 major technology monomers in the chip technology field were selected as research samples, and 443,285 invention patent data were obtained. These data were used to measure the pairwise dependence in the chip technology field of five countries or regions, including China, Japan, South Korea, the United States, and Europe, including unidirectional dependence and bidirectional dependence. According to the dual dependence relationship between the subjects, an international technology dependence network is constructed. The chip technology is divided into single layer, module layer and overall layer to explore the multi-level technology dependence pattern of chip technology, and the research stage is divided into three periods to analyze the evolution characteristics of international technology dependence network in multiple periods of time, and through the analysis of the structure of dependence network, it is used to calculate the security threat index that the technology of each country or region is facing.      The study found that the chip technology of Japan and the United States played a major role in the international technology dependence network. Some subjects in the network had a certain degree of technology dependence on China, but China′s external technology dependence was greater than its external dependence, so it was difficult to form a balance ability. The form of international technology dependence network in the field of chip technology is becoming increasingly complex. Although the technology dependence advantages of the United States, Japan and other countries have weakened, the dependence advantages are still significant, and the interdependence between countries (regions) is obviously unbalanced. The security threats faced by Japan and the United States in the field of chip technology are relatively small, but from a multi period perspective, both have shown a gradual upward trend. Although the security threats faced by China in the field of chip technology are gradually declining, compared with Japan and the United States, the technical threats faced by the three modules, namely, material module, design module and manufacturing module, are still large, while the technical threats faced by the sealing and testing link are small.      Based on the resource dependence theory, this paper proposes a four-dimensional theoretical structure of technology dependence, which enriches theoretical connotation of technology dependence. Starting from the technology standard, the technology invention patent data is used to measure the international dual technology dependence relationship and degree, and thus to build an international technology dependence network. This innovative method research provides a new methodology for China to carry out comprehensive safety evaluation of key core technologies. Through the measurement and analysis of technology dependent network structure, the security threats faced by key core technologies in various countries or regions are evaluated. This method provides a new perspective for technology threat assessment research.      The results of this paper are instructive to the research and judgment of international technology development situation, the analysis of international technology dependence situation, the prediction and investigation of technology threats, and the national science and technology strategic deployment. Related Articles | Metrics

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Government subsidies, top management team social capital, and innovation cooperation of enterprises Ye Yangping, Ma Wencong 2023, 44(5): 85-95.  Abstract ( 128 )      Both governments and firms should draw attention to how to solve the problem of low efficiency of innovation cooperation of enterprises. Based on the practice and the literature review of the relationship between government R&D subsidies and innovation cooperation of enterprises, this paper takes the panel data of China′s A-share listed companies from 2008 to 2018 as samples, investigated the differential effect of government R&D subsidies on innovation cooperation of enterprises. To be more specific, the moderating effect of Top Management Team(TMT) social capital were discussed and the differences in the moderating role of TMT social capital between heterogeneous firms were investigated. Further, this paper discussed the moderating effect of different types TMT social capital on the relationship between government R&D subsidies and innovation cooperation.     The research results showed that government R&D subsidies can promote firm′s innovation cooperation. The TMT social capital positively moderated the relationship between government R&D subsidies and innovation cooperation. The TMT social capital significantly moderated the relationship between government R&D subsidies and innovation cooperation of enterprises only in high-tech firms, non-state-owned enterprises and small- scale firms. TMT overseas social capital and TMT academic social capital significantly moderated the relationship between government R&D subsidies and innovation cooperation of enterprises, while the moderating effect of TMT financial social capital is not significant.     This paper makes the following contributions. First, this paper adopted a more accurate measurement of innovation cooperation of enterprises and provided more abundant and detailed micro evidence for evaluating the effectiveness of government R&D subsidies in China from the perspective of R&D subsidies′ behavioral additionality. Second, existing literatures mainly discussed the moderating effect of firm′s basic characteristic variables on the R&D subsidies′ behavioral additionality, ignoring the initiative of TMT in firm strategic management decisions. Based on the perspective of firm strategic management, this paper explores the moderating effect of TMT social capital on the relationship between government R&D subsidies and innovation cooperation of enterprises, which provide a new perspective to explain the differential effect of government R&D subsidies on innovation cooperation of enterprises. Third，most of the existing literature regarded the internal factors of the firm, such as firm size and manager′s cognition, as the main factors affecting innovation cooperation of firm. This paper investigated the impact of government R&D subsidies on innovation cooperation, which could expand and supplement the relevant literature on external factors affecting innovation cooperation of enterprises.     The main policy implications from the perspective of policy makers and firm′s manager are as follows. On the one hand, government can promote technological innovation cooperation between firms using R&D subsidies. While allocating R&D subsidies, it is necessary for government to consider the heterogeneity of TMT in firms. More subsidies should be given to high-tech firms, non-state-owned firms and small firms. On the other hand, TMT needs to use their social capital to communicate with other organizations in order to obtain more market information that is conducive to firms′ decision-making. In particular, TMT of high-tech firms, non-state-owned firms, and small-size firms need to play their role in alleviating information asymmetry, so as to improve the level of mutual trust between firms and improve the efficiency of using government R&D subsidies. References | Related Articles | Metrics

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Stock market liberalization and R&D internationalization of firms——Some evidence from SH-SZ-HK stock connect Wan Yuanxing, Wang Yishu, Liu Yun 2023, 44(5): 96-104.  Abstract ( 94 )       As economic globalization faces growing headwinds and the world changes at an ever-accelerating pace, many multinational companies (especially Chinese latecomers from emerging economies) are encountering frustrating layers of obstruction in their global research and development (R&D) layout. To this end, the Chinese government adheres to its confirmed basic state policy of opening up to the outside world, counteracting the trend of counter-globalization, and helping Chinese companies innovate (notwithstanding this severe international situation) by using a high level of openness to get stronger technological, human, and financial support. As an important institutional innovation to promote China′s sustained opening to the rest of the world, the interoperability mechanism of stock market transactions represented by the Shanghai-Hong Kong Stock Connect and the Shenzhen-Hong Kong Stock Connect (the SH-SZ-HK stock connect) has attracted much more cross-border capital. This promises to carve out an increasingly prominent role for investors from developed capital markets like Europe, and the U.S. to help develop Chinese enterprises. This paper will, therefore, focus upon this question: Can stock market liberalization overcome the dilemmas associated with counter-globalization, and facilitate Chinese companies′ participation in R&D internationalization activities?     This paper will demonstrate that stock market liberalization has both theoretical contributions and practical solutions to R&D internationalization. When choosing which stocks to purchase, foreign investors avoid those whose growth prospects are hard to determine. This incentivizes companies to plan and disclose their strategic information on R&D and internationalization, thus gradually developing a long-term perspective and increasing the need to allocate resources for R&D internationalization, i.e. the "catering effect". After successfully buying an underlying stock, foreign investors who practice value investing actively provide these companies with capital and knowledge to help ensure the smooth implementation of R&D internationalization projects, i.e. the "resource effect". In fact, foreign investors not be able to drive companies to participate in R&D internationalization. Unlike mature Western capital markets, China′s capital market is in a state of transition and lacks transparency for market information, making it difficult for foreign investors who already have a local information disadvantage to ascertain the truth and falsity of the companies′ public information.       Unfortunately, a few scholars have discussed how stock market liberalization impacts local business innovation, but there is almost a gap in the evidence for the internationalization of R&D. In addition, there are endogeneity problems in the research design of existing literature that are difficult to overcome, -e.g., biased estimates due to omitted variables like culture and the law in cross-country studies, and whether a country′s decision to open its stock market is dependent on the level of domestic economic development or the maturity of its financial system, i.e., a two-way causality. Therefore, whether stock market liberalization can promote the internationalization of corporate R&D needs to be supported by rigorous theoretical and empirical evidence.     Given the successive implementation of the SH-SZ-HK stock connect scenario, the impact of stock market liberalization on the internationalization of corporate R&D was reviewed using time-varying Difference in Differences model that relied on data from A-share listed companies over the period 2008-2019. The results demonstrated that stock market liberalization promotes firms′ participation in R&D internationalization, mainly through the demand for value information from foreign investors, which induce firms to develop long-term perspectives, i.e. the "catering effect". Further testing also found the effect was more pronounced for firms in the eastern part of China, mainly promoting R&D internationalization outside the US.     The marginal contributions of this paper include: (1) applying the impact of stock market liberalization on corporate behavior to analysis of R&D internationalization—a particularly key issue for Chinese companies looking to catch up with technology and to leapfrogging develop; and (2) taking Chinese scenarios such as investor structure, firm characteristics, and institutional environment, this paper proposes two paths for foreign investors to influence the internationalization of corporate R&D, i.e. the "catering effect" and the "resource effect", to reveal the impact of foreign investors′ transition from ‘outsiders’ to ‘insiders’ on the business; and (3) the empirical research relies upon the successive SH-SZ-HK stock connect scenario to fill the endogeneity gap in existing studies. Finally, this paper will suggest that the Chinese government should focus upon improving foreign investor relations management and explore internet-based forms of investor interaction, while continuing to lower the threshold for foreign investment entry, and strengthen the protection of foreign investors′ rights and interests. References | Related Articles | Metrics

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Research on the relationship between gradual multinational M&As and knowledge transfer effectiveness: A case study by taking MOONS′ merges of AMP as an example Chen Lingyun, Luo Qian, Qian Hairong, Wang Nan 2023, 44(5): 105-112.  Abstract ( 105 )      Chinese enterprises in the process of knowledge transfer in multinational merger and acquisitions (M&As) may encounter countless tears and thorns when pursuing advanced technologies. For example, institutional distance and knowledge distance will hinder the process, while interpersonal trust between both sides will promote it. Furthermore, willingness to transfer knowledge, willingness to receive knowledge and knowledge absorptive capacity also play a key role. In spite of all the twists and turns, some M&A modes may unexpectedly mitigate the negative effects, whilst others have no explicit merits.    Based on the M&A between MOONS′ and AMP, several semi-structural interviews are conducted in this paper to analyze its M&A mode. Using the gradual institutional evolution theory for reference, we propose the conceptual framework of Gradual Multinational M&A Mode. In order to shed light on mechanisms through which multinational M&A can influence knowledge transfer, we will account for the ex-ante factors affecting knowledge transfer in detail, meanwhile exploring interconnection between them layer by layer.      Gradual multinational M&A refers to the multinational merger and acquisition based on early beneficial cooperation, which includes strategic cooperation (such as having established a joint venture together), production cooperation (suppose one party before M&A is the customer, and the other is the supplier of goods and services), technical cooperation and marketing cooperation, etc. Prior to the M&A, MOONS′ and AMP have already conducted business with each other for decades. By establishing a joint venture previously, they have deliberately paved the way for the final step.     By analyzing the M&A mode between MOONS′ and AMP, we can draw these following conclusions. First and foremost, gradual multinational M&A built on previous long-term cooperation can establish a strong and stable post-M&A relationship. In addition, the channel for communication inserted by the relationship can mitigate the negative impact arising from institutional and knowledge distance. To be specific, institutional distance is made up of distance restrained by authority(for example, the intellectual property law, financial regulations and internal controls can restrain both parties in an M&A), normative distance (such as distance deriving from social norm, code of conduct and value) and cognitive distance, while knowledge distance consists of knowledge-depth distance and knowledge-width distance, both of which can give an impetus to interpersonal trust. Thirdly, by cultivating a trustworthy connection through emotional trust and cognitive trust can both sides promote the willingness to transfer knowledge and the capability to absorb knowledge. With the convenience of knowledge transfer process increasing, with the frequency and scope of communication expanding, with benign interaction and efficient collaboration arising, both sides in the merger and acquisition will have an even stronger will to transfer and absorb knowledge, which undoubtedly guarantees the efficiency of knowledge transfer process. All in all, the acquirer must adapt to the acquired company′s knowledge step by step. In a gradual M&A, strong relationship and interpersonal trust, cultivated during previous cooperation, can provide a platform for post-M&A knowledge transfer process on which efficiency is assured.  References | Related Articles | Metrics

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Supplier management and enterprise technological innovation Fang Jian 2023, 44(5): 113-121.  Abstract ( 168 )       Innovation is the primary driving force for Chinese economic development. Enterprises are very important for innovation, because they are both major practitioners and promoters. Enterprise technological innovation is not only relying on limited internal skill and resource but also relying on external knowledge and technology. Enterprise technological innovation is affected by many factors in the supply chain. Being the major partner of the enterprises, suppliers are the main source of technological innovation for enterprises. Existing literature mainly discuss the enterprise technological innovation problem from the view of one group supplier, and consider little the suppliers differentiation. In fact, there are many distinct characteristics of suppliers in the enterprise technological innovation. How to keep the balance among these major suppliers is crucial for the enterprise technological innovation. Therefore, supplier management is the key problem for enterprise technological innovation.     From the view of supply chain risk management, this paper explores the inherent mechanism of the impact of supplier management on enterprise technological innovation by using the empirical research method. Based on the Chinese A-share listed companies from 2008 to 2017, this paper has proved the relationship of supplier management and enterprise technological innovation. As conclusions, firstly, the major suppliers will like share the knowledge and skill with the enterprises for improving the competitive advantage of supply chain. In the end, every member of the supply chain will be benefit from this change situation. Thus, supplier concentration has the positive relationship with the output of enterprise technological innovation. Secondly, because enterprise innovative resources are squeezed by the major suppliers, and enterprises have more operation risk with improving of supplier concentration, enterprises would reduce the input of technological innovation with the increasing of supplier concentration. Therefore, supplier concentration has the reversed U shape relationship with input of technological innovation. When the supplier concentration is bigger than the critical point, enterprises will get more output of technological innovation with the less input of technological innovation. From this point, we can draw the conclusion that the major suppliers have the positive overflow effect on technological innovation with the supplier concentration is increasing. Thirdly, when enterprises have big suppliers in these major suppliers, the big suppliers will loss the power of promoting enterprise technological innovation for their stable station in the supply chain. So big suppliers has the negative effect on the output of technological innovation. But stronger manager capacity can control this negative effect by effective managing these big suppliers. Fourthly, compare with non-state-owned enterprises and unprofitable enterprises, supplier concentration has significant relationship with technological innovation in these state-owned enterprises and profitable enterprises.        From the above conclusion, this paper show that enterprises should improve their supplier concentration for the more output of technological innovation. At the same time, enterprises should concern the negative effect of greater supplier concentration on enterprise technological innovation. When enterprises share the benefit with the major suppliers, they should pay close attention to supply chain risk. Thus, enterprises shall keep the balance in these different major suppliers to avoiding the damage from the big suppliers. Because managerial capacity can relieve these damages, so managers should try best to improve their capacity in the competitive environment. Stated-owned enterprises and profitable enterprises are the main force for the innovation. Therefore, Chinese government shall make the policy to improve the reform of the mixed ownership system. Enterprises shall make the best for profit in their operations. References | Related Articles | Metrics

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Supply chain length and total factor productivity in the service industry Chen Qifei 2023, 44(5): 122-130.  Abstract ( 136 )      With increasing of service-oriented industrial structures, the low efficiency growth of the service industry has always restricted the high-quality development of Chinese economy. Improving the productivity of the service industry is an important policy orientation to solve the "triple period" economic growth dilemma, optimize the industrial structure and improve the growth performance. However, due to the weak scale economy of the service industry, insufficient tendency of globalization and low degree of capital deepening, the problem of how to improve the productivity of the service industry has been puzzling academic and political circles. The quantitative of supply chain length has always been a difficult problem in industrial economics. The existing research on supply chain is mainly concentrated in the field of manufacturing industry, ignoring the service industry. With the development of information communication technology, the tradable degree of service is increasing, and the production fragmentation of service gradually prevailing. The completeness of supply chain is crucial to the development performance of the service industry. The Fifth Plenary Session of the 19th Central Committee of the Communist Party of China pointed out: we should improve the modernization level of industrial chain supply chain, develop strategic emerging industries, and accelerate the development of modern the service industry. This paper link supply chains with the service industry, and discusses the effect of extending the length of supply chain on the productivity of the service industry. The research of this paper broadens the research scope of global value chain, extends the research of global supply chain to the field of service, and finds new endogenous power for the increasingly service-oriented global economy.    As a latecomer in the global value chain, China has two congenital defects: lack of supply chain and innovation ability. As a part of the supply chain of developed countries, China is embedded in the global value chain. The supply chain of the industry is too short and the input of advanced service elements is insufficient, which can′t effectively help the industrial upgrading and transformation. To improve the productivity of China′s the service industry, we must extend the length of the industrial supply chain. This paper estimates the length of the supply chain in the upstream and downstream link by 120 input-output tables in 1997, 2002, 2007 and 2012. Based on the result, it inspects impact of extension of service supply chain on total factor productivity, which is from the perspective of the global value chain and the national value chain. The overall study shows that: on the one hand,when service supply chain extends 1% towards upstream, the TFP in service will improve 0.148%, however, the extension towards downstream will inhibit TFP in service; and on the other hand, the promotion effect of service supply chain extension on TFP in the national value chain displays higher than it is in the global value chain. Therefore, strengthening the quality of the service elements in the supply chain, improving the management capacity of the value chain and extending the length of the supply chain will increase service productivity and have important policy implications for achieving long-term and stable economic growth.    This paper shows that: firstly, in order to solve the problem of "cost disease", promote the long-term and stable growth of the service industry, and improve the development performance of the service industry, the key lies in extending the supply chain to the upstream service link of the value chain, that is, improving the degree of "specialization". Enterprises can be encouraged to build up a supply chain system in the upstream links of consumer services and business services. Secondly, we should pay attention to the governance mechanism of domestic value chain, further improve the professional division of labor of domestic the service industry, encourage enterprises to carry out service outsourcing, and build a long-term mechanism to strengthen service association. Put the service industry in the gradient space of domestic industrial circulation, optimize the service quality, dredge domestic circulation channels, use cross regional service supply chain to break the market segmentation, improve the distribution efficiency of factors, and promote the flow of means of production to the service industry. Thirdly, from the strategic perspective of "double circulation", we should graft the bridge between "external circulation" and "internal circulation". Actively expand the international space of service supply chain, actively seek high-quality service resources, establish a global service supply chain system, siphon global high-end service elements. 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Are the triple helix interactions among industry-university-research institutes beneficial for knowledge creation? Zhang Yi, Du Jun, Bai Fuchen 2023, 44(5): 131-139.  Abstract ( 123 )       In the knowledge economy era, the innovation mode has experienced a radical change from the past linear innovation to the current triple helix (TH) one by which the economic and academic organizations achieve high penetration and organizational boundaries become blurred. In this context, a considerable volume of studies have been devoted to investigate how the TH interactions between/among academic organizations (such as universities and research institutes) and economic ones (industries) promotes knowledge application and commercialization. Yet, the extant studies neglected an important issue, namely, the ‘reverse feeding’ effect of TH interactions on knowledge creation by academic organizations, therefor leaving a little understanding in respect to the impact of TH interactions on knowledge creation. In this paper, we attempt to fill this prominent gap by exploring whether the TH non-linear interactions among Industry–University–Research Institutes (IUR) are conducive to the promotion of knowledge creation by academic organizations in China. Specifically, Chinese Double First-Class universities which act as the important knowledge creation actors in national innovation system are taken as the research sample, and the mutual redundancy indicator developed by Leydesdorff and Ivanova is employed to measure the dynamic trend of TH interactions of Chinese Double First-Class universities with industries and research institutes. Furthermore, the regression analysis is implemented to empirically investigate the TH interactions′ effects on knowledge creation, which contributes to clarifying the following topics: (1) whether the TH interactions among the Chinese Double First-Class universities, industries and research institutes are beneficial for the improvement of Chinese Double First-Class universities′ knowledge outputs; (2) whether the relationship between research investment and knowledge outputs of Chinese Double First-Class universities is positively moderated by the TH interactions among the Chinese Double First-Class universities, industries and research institutes.     The results show that the bilateral coupling relationship between the academic organizations becomes stronger and stronger. This not only helps to create more knowledge, but also moderates the relationship between research investments and knowledge outputs in a positive manner. Moreover, the bilateral interactions between the academic and economic organizations have been increasingly decoupled, and these bilateral interactions not only exert a negative effect on knowledge creation, but also negatively regulate the relationship between research investment and knowledge outputs in an indirect manner. In addition, the trilateral interactions among IUR become decoupled, and these trilateral interactions have no significant impact on knowledge creation.     It should be noted that our research findings are inconsistent with the extant studies which were implemented in the context of Western countries. This may be attributed to a possible reason in respect to the sharp contrast scenarios between the Western countries and China where the TH interactions among innovative organizations fall into the different positions along the innovation value chain, i.e., the Western countries are on the upstream whereas China is on downstream, resulting into different manners by which TH interactions exert ‘reverse feeding’ effect on knowledge creation in different country contexts.      This paper contributes to extant literature in two aspects: Firstly, compared with the extant research which largely explores how the TH interactions promote the new knowledge created by academic organizations successfully transferred to economic organizations, and tends to focus on whether the TH interactions have an impact on technological innovation performance from the research perspective of economic organizations, this paper mainly investigates the feedback effect of TH interactions on conducting scientific research and knowledge creation from the research perspective of academic organizations, therefore enriching the TH innovative research. Secondly, in contrast to abundant research which is limited to depicting TH interactions rather than exploring their effects, this paper not only reveals the bilateral and trilateral interactions between/among the innovative organizations, but also further implements an in-depth study on the impact of TH interactions on knowledge creation.     In summary, this paper devotes on investigating the academic effects of TH non-linear interactions among innovative organizations in the context of China, which presents some important implications for theoretical, practical and political circles. In particular, the results of our study may be of interest to the China′s policy makers who strive to enhance the national innovation capability by strengthening TH non-linear interactions, resulting in an‘innovation-oriented’ country in the future. References | Related Articles | Metrics

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Government subsidies and enterprise innovation: Do they alleviate the shortage of funds or foster inertia in enterprises? Cui Zhaocai, Zhang Zhixin, Li Cheng 2023, 44(5): 140-148.  Abstract ( 97 )       In the development process of Chinese enterprises, there are many internal factors, such as the "modularization" trap, homogenization innovation, "surge" of industry and other independent innovation difficulties, and many external factors, such as imperfect intellectual property system and financial market system, all these factors together breed the enterprise innovation "inertia". Although the government′s direct financial support can alleviate the financial constraints faced by enterprises′ innovation investment, the hidden information problem in the allocation of government innovation subsidies makes the enterprises prone to rely on inertia, resulting in enterprises′ tendency to "cater" to government policies. They tend to "cater" to government policies through rent-seeking and preferential policy grabbing behaviors, resulting in the dilemma of "focusing on quantity rather than quality" in enterprise innovation. Therefore, utilizing government intervention to achieve the positive incentive effect on enterprises′ innovation willingness and high-end innovation preference is of great significance for enhancing enterprises′ innovation vitality and enabling local high-quality regional economic growth.    In this paper, we use the data from the CSMAR database and list 2480 companies from 2008 to 2017 as the research objects, finally we test the multi-dimensional impact of government innovation funding on enterprise innovation laziness by using the method of 2SLS and IV Probit. The results show that: (1) after controlling the fixed effects such as time, industry, city size, and enterprise′s characteristic variables, the government′s innovation funding has a U-shaped nonlinear incentive effect on the output of enterprise′s innovation activities and enterprise′s innovation intention. It means that when the scale of government′s innovation funding exceeds a certain critical value, can it show the "crowding in" of enterprise′s innovation intention effect, enterprises are willing to increase the proportion of R&D expenditure in revenue. Otherwise, it will lead to "crowding out" effect on innovation intention of enterprises, and enterprises will reduce the proportion of R&D expenditure in revenue. (2) The government innovation funding has a significant "Inverted U" effect on the innovation preference of enterprises, which means, while government subsidies within a reasonable range can encourage enterprises to choose "higher level" innovation, excessive subsidies can easily encourage enterprises to "Rent-seeking", grab preferential policies and other "inert" behaviors, resulting in the "degradation" of innovation preference to the lower-level. (3) The above results are heterogeneous between state-owned / non-state-owned enterprises and high/low innovation intensity industries.     The above results show that the government′s innovation subsidy policy should take into account the differences of different equity nature and innovation intensity among different industries. While the focus on alleviating the capital shortage of private enterprises and high innovation intensity enterprises, it should "spur" the innovation "inertia" of state-owned enterprises, and encourage the innovation enthusiasm of private enterprises in high innovation intensity industries at the same time, otherwise, it will further aggravate the "incentive distortion" among different type enterprises. Besides, local governments should pay more attention to stimulating the basic role of market fair competition mechanism in promoting the independent innovation ability of micro-enterprises. The intervention behavior should play the role of "icing on the cake" rather than "overstepping". Otherwise, it will aggravate the twisted allocation of enterprise innovation resources, promote the innovation inertia of enterprises, and is not conducive to the technological progress and development of the whole industry and economy high-quality transformation and development. References | Related Articles | Metrics

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Intellectual property protection and regional innovation capability enhancement under open innovation: Blocking or dredging? Cai Shuangli, Zhang Xiaodan 2023, 44(5): 149-158.  Abstract ( 103 )       As an important institutional arrangement to promote knowledge production and technological innovation, intellectual property protection helps to improve independent innovation capabilities, protect the core interests of enterprises, and guide the innovation drive of China′s economic development. Entering the era of knowledge economy, the global economic development model and innovation logic are constantly being upgraded and reorganized. The follow-up development model that China has relied on for a long time with low factor costs and light-based innovation is unsustainable. Pioneering innovation and system innovation have become the key drivers of a country′s economic growth.     Based on the perspective of open innovation, this paper builds a new research framework, analyzes the impact of the "dredging" and "blocking" modes of intellectual property rights on regional innovation capabilities, and explores the moderating effect of open innovation model of "dredge and blockage" combination on the relationship between intellectual property protection and innovation capability level. Based on the panel data of 31 provincial-level regions in China from 2012 to 2018, using the panel fixed effect model, this study empirically tested the effect and mechanism of intellectual property protection on regional innovation capabilities under the paradigm of open innovation, and found that:      First, during the investigation period, under the paradigm of open innovation, intellectual property protection of strong externalities has an inhibitory effect on regional innovation, adopting the intellectual property protection model of "heavy blockage but light dredge" affects the innovation spillover effect of intellectual property rights, it is not conducive to the improvement of regional innovation capabilities.     Second, under the regulating effect of the open innovation model of cooperative R&D between local companies and multinational companies, cooperative R&D between local companies, and industry-university-research collaborative innovation, the negative impact of intellectual property protection on regional innovation capabilities is weakened. However, it does not mean that the protection of intellectual property rights is weakened, but that under the paradigm of open cooperation, the parties to the cooperation do not obtain value through the closed protection of intellectual property rights, but jointly innovate value through market-oriented cooperation. The interaction of market-oriented interests is the key privacy that drives enterprises to choose closed or open intellectual property rights.     Third, in different regions of China, there are significant differences in the impact of intellectual property protection on the development of innovation capabilities, and there is still much room for improvement in the overall level of intellectual property protection. The inhibitory effect of intellectual property protection on innovation output is the most obvious in the eastern region, followed by the central region, and the least obvious in the west. Under the moderating effect of open innovation, the protection of intellectual property rights in the eastern and central regions has a more significant inhibitory effect on the output of invention patents in innovation activities.     The market-oriented intellectual property promotion model of "blocking or dredging" proposed by this paper has put forward a new idea for the market-oriented promotion and protection of intellectual property rights in China. The research results enrich the literature on intellectual property protection and regional innovation research, and have theoretical and practical reference value for the Chinese government to formulate policies to support regional innovation capabilities and intellectual property protection.  References | Related Articles | Metrics

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The three-level games in the formation of global intellectual property standards and its revelations Xu Yuan 2023, 44(5): 159-165.  Abstract ( 90 )      With the development of globalization of knowledge economy, intellectual property has become a powerful weapon of the competition for industrial interests and the competition between countries. The formulation of global intellectual property standards has become a focal issue in the game between countries which has attracted great attention of scholars. It has not only become an important subject for legal scholars to study, but has also been brought into the vision of international relations scholars and it has begun to become a new research field of international relations.     Foreign scholars started their research in this field earlier and achieved richer achievements. Influenced by foreign research, in recent years, some domestic scholars have also begun to explore the formation of global intellectual property standards from the perspective of international relations or international politics. However, compared with foreign scholars, in China, the research in this field is seriously lagging behind, the relevant achievements are very limited, and the original achievements are even scarce. This situation is extremely incompatible with China′s status as a leading power in intellectual property and China′s goal of building a powerful intellectual property country.     In pace with the rapid development of economy and the deepening of participation in globalization, China is approaching the center of the world stage as never before. Active participation in global intellectual property governance has become an a proposition of the times facing China. However, compared with the strong demand to actively participate in global governance of intellectual property, China′s ability to participate in the formulation of international intellectual property rules is still insufficient. The main reason for this lies in the lack of in-depth research on theories and policies of related issues, which leads to the inability to have our voice. The new rules of international intellectual property protection are the results of the game of international political and economic forces. Chinese scholars urgently need to strengthen the research on international politics and international relations of intellectual property, and to improve their discourse power in the construction of the international intellectual property order and their ability of intellectual property global governance.     In theory of international relations, "two-level game" is a theory to study the interaction between international politics and domestic politics. This theory has a strong explanatory power for international negotiations, and many scholars use it to conduct case studies on international issues. However, there is an obvious deficiency in this theory, that is, it ignores the existence of the alliance of states in international negotiations and lacks explanatory power for the international negotiations with alliance of states. In the process of the formation of global intellectual property standards, it is common for countries to establish alliances and the game between countries is also carried out on three levels, namely, the domestic level, the international (transnational) level and the alliance level. The global standards of intellectual property rights are formed by the intellectual property-related actors through these three levels of games. However, no relevant literature has been found to study the formation of global standards for intellectual property from the perspective of the three-level game.     This paper briefly introduces the core content of the two-level game theory, and points out the shortcomings of the two-level game theory. On this basis, this paper constructs a three-level game model formed by global intellectual property standards and incorporates games between nine types and three levels into the model for empirical analysis, namely, the game within the interest groups of intellectual property owners in international negotiations; the game between interest groups of intellectual property owners and users; the game between interest groups and local government; the game between the United States and developing countries; the game between the United States and other developed countries; the game among developing countries; the transnational game between interest groups of different countries; the game between interest groups and foreign governments; the game between national alliances. Then, this paper has come up with some beneficial revelations, that is, multilateralism should be upheld in international negotiations on intellectual property rights; international rules on intellectual property rights should balance interests; developing countries should be adept at discovering and utilizing the power of "silent ally" in international negotiations on intellectual property rights. Related Articles | Metrics

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Research on the influence mechanism of patent pool on exaptation in the digital economy Wang Liping, Zhao Lijie 2023, 44(5): 166-173.  Abstract ( 75 )       With the development of the digital economy, digital technology has broken the boundaries between different industries, and products and technologies have spread across different industries. In this process, companies will accidentally discover that products and technologies from different industries can be recombined, apply in new fields and discover new functions of products and technologies, and then open up new markets. This innovative method, which is different from launching new products and new technologies, is called exaptation. Exaptation is a very important innovative method for companies to improve existing products and technologies to expand the market, but existing research has paid little attention to this.      Combining the characteristics of the era of digital economy, this paper found that the ability of patent pools to integrate scattered patents, promote communication between companies in the pool, and create an environment for knowledge sharing is an important factor affecting exaptation. Moreover, digital technology is conducive to patent pools to obtain more innovative resources, and the connection with users is getting closer. Therefore, this research which has introduced two variables, big data capabilities and user innovation, is trying to reveal the mechanism of patent pools′ adaptation to exaptation. To this end, this paper is based on the IPO model and constructed a chain-type intermediary model in which the patent pool acts on exaptation through big data capabilities and user innovation. Since data such as patent pools, big data capabilities, user innovation and exaptation cannot be obtained from publicly available data, the research uses questionnaires to collect data. In order to ensure the persuasiveness and reference value of the research conclusions, the questionnaire is mainly distributed to product developers, market intelligence personnel, technical R&D personnel and other relevant personnel in high-tech enterprises with strong innovation activity and initiative.      Using SPSS and AMOS software to conduct hypothesis testing on the collected data using structural equation models and Bootstrap, this paper has obtained the following results which show that: (1) Patent pools have a positive impact on exaptation. Patent pools can be implemented by eliminating barriers to patent, reduce business transaction costs and promote technical exchanges between enterprises, create opportunities for the application of existing products and technologies in new areas, promote exaptation; (2) Big data capabilities play a part of the intermediary role in the positive impact of patent pools on exaptation, and companies rely on big data capabilities look for potential value in existing resources, explore new combinations of production factors, and capture unexpected discoveries; (3) User innovation plays a part of the intermediary role in the positive impact of patent pools on exaptation. Patent pools improve product quality and reduce prices expand the number of users, expand the use of existing products, and promote the discovery of new features of existing products; (4) Big data capabilities and user innovation play a chain-like intermediary role in the positive impact of patent pools on exaptation. The patent pool needs big data capabilities to integrate and analyze users′ opinions and views on existing products, explore new features of the product while meeting user needs, and promote the emergence of exaptation. Both play a role of linkage between the patent pool and exaptation.     Finally, this paper provides some theoretical reference and practical guidance for enterprises to transform their innovative thinking and explore the potential value of existing products and technologies. Related Articles | Metrics

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Investor behaviors, industry volatility and spillover effects in social media Jin Dawei, Chen Jingyu, Xia Mengran 2023, 44(5): 174-183.  Abstract ( 159 )       Preventing and resolving financial risks is a key topic of financial work. Given the frequent price synchronization and turnover of industry indices in Chinese stock markets, prevention and control of inter-industry risk is a top priority. At the same time, the active behavior of investors in social media may accelerate and intensify the risk contagion among industries in the stock market. Therefore, clarifying the impact of investor behavior in social media on the risk of stock market industries and its inherent mechanism has important theoretical and practical significance for investors′ asset management, regulators′ policy optimization, and financial risk prevention and control.    Research on the spillover of investor behavior mainly focus on three types: first, the spillover of investor behavior on price indicators; second, the spillover of investor behavior among markets; and third, the intermediary role played by investor behavior in other spillover relationships. Lu and Chen (2015) put forward theoretical hypothesis of the "investor sentiment spillover effects", but no subsequent studies have explored it in depth. Which investor behavior is the main factor influencing industry volatility in the social media context? Is there an investor behavior spillover effect? If so, what are the specific manifestations?     Based on the above problems, this paper empirically examines the impact of investor sentiment and investor attention in social media on realized volatility at the industry level, explores the existence of industry sentiment spillover effects and their propagation paths, and discusses the spillover effects after the COVID-19 epidemic. This paper collected a sample of 153 listed companies under 19 industries in China′s A-shares from 2019 to 2020. Specifically, we use a panel fixed effects model to study the impact of investor behaviors on industry volatility, while the directed acyclic graphs (DAG), the structural vector autoregression (SVAR) model, and the information spillover model of Diebold and Yilmaz (2012) are used in studies related to spillover effects.      We find in this study that: (1) From the social media perspective, investor sentiment is the main factor driving industry volatility in all investor behaviors under the absolute, relative, and differential three dimensions. In absolute and differential dimensions, higher investor sentiment and attention and wider investor disagreement significantly exacerbate industry volatility. While in the relative dimension, large changes in investor sentiment and attention dampen industry volatility. (2) Overall, there is inter-industry risk contagion via investor behavior in the stock market. Theoretical hypothesis of investor sentiment spillover effects is confirmed by 7 pairs of significant sentiment spillover relationships with a single clear direction of spillover. In the post-epidemic period, the number of industry pairs with sentiment spillovers decreases to 5, but the intensity of spillovers becomes stronger, and the scope of impact narrows and appears a continuous path.     Based on the above findings, we argue that investors should choose a top-down asset allocation approach from sectors to individual stocks in the post-epidemic period. To uncover valuable new information for financial practices such as underlying selection, risk diversification, and asset pricing, the investors should not only take inter-industry linkages and the policies on industries and industrial chains into account but also the investor irrational behavior factors while making an investment decision.     The main features of this paper are as follows: first, examining the impact of investor behaviors in social media on volatility from the industry level, and further revealing the existence of relatively hidden cross-industry sentiment spillover effects and their propagation paths. Second, portraying investor behaviors in social media by constructing diversified indicators into absolute, relative, and differential dimensions from two behavioral facets of investor sentiment and attention. Finally, the work of this paper provides a novel addition to the empirical investigation of spillovers on investor behavior and also sheds new light on investor asset management, regulatory policy optimization, and the prevention and control of financial risk in the post-epidemic period. In future research, we will consider examining differences in investor behaviors and their effects based on multi-platform information or continue exploring the characteristics and performance of institutional investors as well as other financial markets. References | Related Articles | Metrics

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The effects of researchers′ occupational calling on their occupational well-being Xie Baoguo, Wang Fang, Miao Jialing, Hu Hao 2023, 44(5): 184-192.  Abstract ( 241 )      Happiness is the ultimate pursuit of human beings. However, the survey conducted by Nature in 2021 showed that only 50% Chinese participants hold optimistic about their future (Woolston, 2021). Another large-scale survey conducted in 2019 illustrated that Chinese researchers reported lower occupational well-being than other occupational groups (Fu et al., 2021). The occupational well-being of researchers is not only related to their living conditions, but also has an important impact on their creativity. Therefore, how to foster the occupational well-being of scientific researchers is not only a topic of great concern to theoretical circle, but also a topic of great concern China′s current science and technology policy reform. For example, the implementation plan for deepening the reform of science and technology system posits that employers should foster researchers′ sense of contentment and happiness by improving salary and position management system.     Occupational calling is defined as "a transcendent summons, experienced as originating beyond the self, to approach a particular life role in a manner oriented toward demonstrating or deriving a sense of purpose or meaningfulness and that holds other-oriented values and goals as primary sources of motivation" (Dik& Duffy, 2009, p. 427). Calling is a key factor that has positive effects on individuals′ well-being due to its capability to provide individuals with the sense of meaning in the work. Prior studies have showed that calling was related to well-being indicated by life meaning, life satisfaction, job satisfaction, career satisfaction and mental health. For scientific researchers, a knowledge-based group, maintaining vitality at work and improving professionally are two important sources of occupational well-being. Among them, work vigor represents the subjective well-being of happiness orientation, and subjective professional plateau represents the psychological well-being of self-actualization orientation. The effects of calling on the vigor and subjective professional plateau that are representative of researchers′ occupational well-being are understudied.      To address this important gap, we developed the dual process model explaining the effects of calling on occupational well-being based on conservation of resources theory (COR). We propose that occupational calling will affect occupational well-being through two different paths of resource creation and resource protection. To testing the model, we conducted the survey on 327 researchers in China using time-lagged design with one-month interval, and collected 257 valid responses from 44 universities. The regression analyses and path analyses were used to test the hypothesized model. The results showed that: (1) after controlling for core self-evaluation, calling has the incremental effects on researchers′ occupational calling. Namely, calling improved vigor and decreased subjective professional plateau, (2) approach job crafting mediated the relationships between calling and occupational well-being indicated by vigor and subjective professional plateau, and (3) avoidance job crafting mediated the relationship between calling and vigor, but did not mediate the relationship between calling and subjective professional plateau.      This paper contributes the literature in the following ways. First, this paper enriches the outcomes of calling by examining the effects of calling on researchers′ vigor and subjective professional plateau. Prior studies focused the occupational well-being on job satisfaction, burnout, career satisfaction and mental health. This paper is the first to examine the effects of calling on occupational calling indicated by vigor and subjective professional plateau. Second, this paper provides the new insight into the mechanism of effects of calling on occupational well-being. Given that calling is an important and value personal resource, conservation of resources theory (COR) was drawn to explain the relationship between calling and occupational well-being. The dual process model was supported by the data from three waves. Finally, this paper confirms and extends the COR theory by directly examining the different roles of approach job crafting and avoidance job crafting on the relationships between calling and occupational well-being.      This paper also provides important practical implications for organizations and researchers. First, organizations should conduct calling management and encourage researchers to explore their interests, values, and skills and match their unique skills with potential jobs or to encourage them to connect their work with a tangible, prosocially-oriented purpose. Second, given the different roles of approach job crafting and avoidance job crafting in the relationship between calling and vigor and subjective professional plateau, we suggest that researchers should engage in more approach job crafting and less avoidance job crafting. Approach job crafting can increase the vigor and decrease the subjective professional plateau.  References | Related Articles | Metrics