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20 September 2023, Volume 44 Issue 9 Previous Issue    Next Issue

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Disruptive technovation: Origins, integrated framework, and prospects Qu Guannan, Chen Kaihua, Chen Jin 2023, 44(9): 1-9.  Abstract ( 534 )     In the new era, disruptive technology-centered competitions between major powers and their enterprise innovation strategies have aroused great concern. It is of great importance and urgency to systematically explore the theoretical basis and core conceptual framework of disruptive technovation to help the realization of national strategies such as "high-level self-reliance of science and technology".Nevertheless, the existing research on disruptive technovation is faced with significant challenges, such as the vagueness of concepts, fuzziness of theoretical boundaries, and lack of integration of framework. To fill this gap, we conducted our research in three main phases:Firstly, from the perspective of the evolution of the technology-oriented innovation paradigms, this paper systematically reviewed the theoretical origins and boundaries of disruptive technovation. In this way, we identified the core of disruptive technovation research as the exploration of the nature and pattern of the emergence and diffusion of disruptive technologies. Furthermore, we pointed out the similarities and differences between disruptive technovation and related paradigms by highlighting the technology-centered characteristics and rules. Thus, we built the theoretical basis for analyzing disruptive technovation in this section.Secondly, based on the methods of literature induction and theoretical deduction, an integrated conceptual framework of disruptive technovation covering was proposed. In this framework, a new technology’s disruptiveness could be captured by three main dimensions. The first is Technological Novelty. This phase depicts the technological change of the focal technology compared to the mainstream ones. The second phase is Technological Superiority which represents to what extent a focal technology is functionally competitive rather than the mainstream ones. The final phase is named Technological Externality. We use this phase of characteristics to link disruptive technovation to social demands and national development. Furthermore, we developed a system of the research issues of disruptive technovation. Specifically, we divided disruptive technovation research into four streams: first, the Acquisition stream focus on the emergence patterns and search modes of disruptive technologies; Second, the Identification stream takes the screening and prediction of disruptive technologies into consideration; Third, the stream of Adoption and Diffusion mainly explore the process of disruptive technovation by which an enterprise uses disruptive technologies to enter an existing market or develop a new market.Finally, the paper analyzed the opportunities, constraints, and challenges of disruptive technovation in China under the situation of “competition between major powers” and looked forward to the future trends of disruptive technovation practice and studies under the complex international environment and new development pattern. Related Articles | Metrics

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Digital economy promote the high-quality economic development Wei Dongming, Xu Yang, Gu Naihua 2023, 44(9): 10-19.  Abstract ( 538 )      China′s economy is in a critical period of high-quality economic development, and the new model of digital technology represented by big data economy has gradually become the driving engine of high-quality economic development. Under the tide of global digital economy, the Chinese government attaches importance to and encourages the development of the new generation of information technology and digital economy, and has carried out a series of measures for the development of digital economy, one of which is the establishment of a national big data pilot zone. Therefore, whether the digital economy focusing on the big data pilot zone can drive the high-quality economic development has become the focus of attention from all walks of life. However, the academic literature provides limited understanding of the impact of digital economy on high-quality economic development. Therefore, it is imperative for us to examine this issue in the context of a new round of scientific and technological revolution.This paper used the panel data of 286 cities from 2012 to 2018 to construct an economic quality index based on global Malmquist-Luenberger productivity. Taking the digital economy policy of "national big data pilot area" as a quasi-natural experiment, this paper used the progressive double difference model to investigate the impact of digital economy on the high-quality development of economy. It was found that the digital economy has a significant driving effect on the high-quality development of economy, mainly through the channels of improving the level of government governance, promoting intelligent development, promoting regional innovation, and optimizing industrial structure. The promotion effect of digital economy is mainly driven by technological progress, and the economic promotion effect of the central and western cities, third, fourth and fifth tier cities is stronger than that of the eastern and northeastern cities, as well as the first-tier and new first-tier and second-tier cities, and the economic promotion effect of non-resource cities is stronger than that of resource cities. With the improvement of high-quality economic development level, the economic promotion effect of digital economy is stronger than that of resource cities. The promotion effect of digital economy shows the characteristics of "fluctuation upward" change with increasing margin.The innovations of this paper are as follows. First, previous literatures mainly focused on the economic growth effect of digital economy, while few of them examined the high-quality development effect of digital economy. In fact, under the background of a new round of scientific and technological innovation, the digital economy has stimulated the transformation of economic structure and efficiency conversion, which plays an important role in promoting high-quality economic development and building a modern industrial system. This paper analyzed the internal mechanism and influence effect of digital economy on the high-quality development of economy, which will enrich the role and effect research of digital economy to a certain extent. Secondly, this paper took the policy of "national big data pilot zone" as a quasi-natural experiment to investigate the causal effect of digital economy on high-quality economic development, alleviate the possible endogeneity problems, and then obtain rigorous research conclusions. Thirdly, this paper has also contributed to the accurate understanding of the driving factors of high-quality economic development. From the perspective of digital economy development, this paper has deeply investigated the important influencing factors of high-quality economic development, and will provide theoretical and empirical explanations for China′s high-quality economic development, and help to deepen the understanding of the internal relationship between digital economy and high-quality economic development.Based on the above conclusions, this paper revealed the following policy implications. First, we should expand the coverage of the pilot zone and include other cities in the digital economy policy system, especially cities in the central and western regions and small- and medium-sized cities. Second, we should integrate regional data resources and government information integration, strengthen the development of digital, intelligent, and automated infrastructure, and continue to carry out information industry innovation. Third, we should improve the technological innovation ability and technical efficiency of the digital economy. Related Articles | Metrics

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Enterprise data for good, digital innovation capability and value creation Wang Tiandong, Lin Xiaoyue, Liu Tiansen 2023, 44(9): 20-28.  Abstract ( 187 )       As the new round of technological revolution and industrial change evolves, data has become a valuable strategic resource and a new factor of production. The focus of the discussion on data science has shifted from "whether data can be used" to "how to leverage the positive value of data". At home and abroad, some typical enterprises have emerged with data for good, such as DXY and Baidu Maps, which have created great business and social values. However, more enterprises are at a loss of what to do in the face of data for good, and some of them have even made data wrongdoings such as data killing, illegal data collection and sensitive data leakage. The reason for this is the lagging awareness of data for good in the practical world. However, data for good research is in its infancy, and only basic issues such as definitions, dimensions, and scales have been initially explored. The lack of influential research results on the key issue of how data for good creates business and social value has led to the limited guidance of existing research on the practice of data usage. Therefore, it is of great theoretical and practical significance to explore the mechanism of data for good affects value creation.In fact, there is a natural link between data for good and digital innovation capability. As data is the core of digital resources, enterprises need to build and cultivate their innovation capability to creatively utilize, coordinate and develop digital resources at different levels and areas of their business and operations, which is an important prerequisite for value creation. It can be inferred that synergy between data for good and digital innovation capability is the key to value creation. Specifically, this paper focused on the following three questions: what are the antecedents of data for good? how can the synergy between data for good and digital innovation capability create value? And how is the path of value creation realized?This paper took DXY and Baidu Maps as examples, and used the grounded theory research method to answer the above questions. A "motivation-behavior/capability-output" mechanism model was constructed for the synergy between data for good and digital innovation capability to create value. The research found that the motivations for data for good include external pressure and incentive factors from the market, law, and multi-actors, as well as internal subjective and objective factors in terms of strategy, spirit, and complementary assets; the synergy between data for good and digital innovation capability affects value creation, and the mechanism is a dynamic enhancement process in which the two influence each other and promote each other; there are two main paths for data for good to create value. Firstly, based on external pressure and incentive factors, enterprise should make a responsible use of data and realize business value in the process of interacting with digital agility capability. Secondly, based on internal subjective and objective factors, enterprise should conduct data charity, and realize social value in the process of interacting with recombinative capability.This paper further clarified the motivation of data for good, the mechanism path of value creation through the synergy of data for good and digital innovation capability. Therefore, the theoretical contributions of this paper are as follows: First, this paper discussed the motivation of data for good, and responded to the call of scholars to discuss the antecedents of it, which is of great significance to enrich the theoretical study of data for good. Second, this paper clarified the synergistic effect between data for good and digital innovation capability, expanded the theoretical research on the interaction mechanism, antecedent, and results, as well as research methods of the two, and promoted the establishment of a deep connection between data ethics research and digital capability research. Finally, this paper proposed a mechanism model for the synergy between data for good and digital innovation capability to create value, which will not only provide a clear research framework for following studies, but also help to reveal the laws and essence of data for good more clearly. More importantly, there is still a long way to go in the development of data for good research and practice, and this paper is only a small step to further enrich the data for good research in China and is hoped to provide wisdom for the construction of theory on data for good. References | Related Articles | Metrics

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Measurement of the scale of regional digital economy and its impact on regional innovation Su Yi, Zhi Pengfei, Guo Xiufang 2023, 44(9): 29-38.  Abstract ( 242 )      In recent years, the digital economy has developed rapidly and it is becoming an important contributor to China′s national economy and a new driving force for its economic growth. At the same time, the digital economy can accelerate the flow of various innovative resources and factors. Due to the characteristics of digital technology, there have been various changes in product innovation, process innovation, organizational innovation, and business model innovation. The digital economy has gradually become a key factor affecting regional innovation capacity. Based on the existing research on the measurement framework of the digital economy, this paper clarified the connotation of the regional digital economy, defined the accounting scope and related industries of the regional digital economy. This paper systematically calculated the digital economy added value of 31 provincial-level regions in China from 2007 to 2020 from the four dimensions of digital empowerment infrastructure, digital media, digital transactions, and digital economic transaction products. Based on this, this paper empirically tested the driving role and impact law of the digital economy on regional innovation capacity by constructing a two-way fixed-effect model and a threshold model.The results of this study showed that the digital economy added value of various provincial-level regions in China has shown a trend of continuous increase and the growth rate has been accelerating. There are significant regional differences in the scale of digital economy development in China, with the scale of digital economy development in the eastern region significantly larger than that in the central and western regions. The industrial structure of the digital economy in China is not balanced. Although the proportion of added value from digital media and digital transactions in the total added value of the digital economy is continuously increasing, the added value of digital empowerment infrastructure is still the main contribution to the digital economy in various regions. The digital economy can significantly promote the improvement of regional innovation capacity. It has become an important driving factor for regional innovation, and to a certain extent, changes the influence law of innovation factors on innovation capacity. The digital economy has a significant nonlinear and differentiated impact on regional innovation capabilities, and there exist two thresholds for the scale of digital economic development. As the scale of the digital economy continues to grow, the promotion effect of the digital economy on regional innovation capacity shows a non-linear characteristic law of decreasing marginal effect and then increasing marginal effect.Finally, in order to further promote the rapid development of the digital economy and strengthen the empowering role of the digital economy on regional innovation capacity, this paper proposed corresponding countermeasures from three aspects: optimizing the industrial structure of the digital economy, implementing differentiated development strategies for regional digital economy, and improving the quality of investment in innovative manpower and capital.This paper has filled the gap and made up for the deficiencies in the measurement of the digital economy scale at the regional level in China′s existing research. This paper systematically calculated the development of the digital economy in 31 provincial-level regions in China in the past 14 years from the perspective of the added value of the digital economy industry. It can more intuitively examine the development scale of the digital economy in various regions and the changes in the status of the digital economy in the national economy. At the same time, this paper, for the first time, explored the driving role and influencing law of the digital economy on regional innovation capacity from the perspective of the development scale of the digital economy. This paper will enrich the research on relevant innovation theories and has practical significance for understanding the development of the regional digital economy in China and promoting high-quality development of the digital economy. Related Articles | Metrics

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The institutional motivation and process of digital transformation of enterprises Yang Shuyan, Song Tiebo, Wu Xiaojie 2023, 44(9): 39-46.  Abstract ( 282 )     The 14th Five-Year Plan of China calls for accelerating digital development, building a digital China, giving full play to the advantages of massive data and rich application scenarios, promoting the deep integration of digital technology with the real economy, and enabling the transformation and upgrading of traditional industries. As an important social technological and institutional phenomenon, digital transformation is gradually becoming an important starting point for the innovative development mode of global enterprises. At present, China′s manufacturing industry is facing great pressure. Faced with this dilemma, how to give full play to and release the institutional advantages of socialism with Chinese characteristics, integrate government and market resources, use digital and information technology, and concentrate on promoting the digital transformation of manufacturing industry has become the core issue of common concern of politics and industry.At present, how institutional pressures affect the process mechanism of enterprises′ response to digital transformation needs further research and discussion.From the perspective of institutional theory and organizational cognition, this paper discussed the institutional motivation and process of digital transformation of manufacturing and digital transformation of business model. Based on the theoretical path of "institutional environment-organizational cognition-digital transformation", this paper used the structural equation model to test the influence of institutional pressures (regulation, cognition and norm) and organizational cognition (urgency and manageability cognition) on enterprise digital transformation with data from 287 manufacturing enterprises. The results showed that: firstly, different institutional pressures have different impacts on the two types of digital transformation. The digital transformation of manufacturing is more response to normative pressure, and the digital transformation of business model is more response to cognitive pressure, while the regulative pressure from the government is not the primary institutional pressure to be responded by the two digital transformation modes, indicating that the digital transformation of enterprises is more based on the requirements of market legitimacy, rather than responding to the demands of government system. Secondly, in the process of digital transformation of manufacturing and digital transformation of business model, organizational cognition plays a mediating role between institutional pressure and enterprise digitalization response. The research results will enrich the research on the process mechanism of enterprises′ response to digital transformation, and provide theoretical guidance and policy suggestions for China′s manufacturing enterprises to carry out digital transformation.The theoretical contribution of this paper lies in three aspects: First, based on the institutional theory and starting from the "government-market" dual institutional context, this paper found that enterprises will have different responses to digital transformation when facing institutional pressures from different sources of government and market, and extends the relevant research on institutional theory and corporate strategic response. Second, from the perspective of organizational cognition, this paper focused on the process of organizational evaluation of strategic issues, and discussed how urgency cognition and manageability cognition deconstruct the "black box" of the influence process of institutional environment on enterprises′ response to digital transformation. Third, the research on digital transformation of enterprises can be divided into digital transformation of manufacturing and digital transformation of business model. It is considered that the digital transformation of enterprises will not only increase the use of digital technology in enterprises, but also include the integration and cross-application of digital technology in company products and services, internal and external activities, which will expand the existing research based on the coupling perspective of "technology-market" and enrich the research results of digital transformation of enterprises. Related Articles | Metrics

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A study of the impact of local government attention allocation on the innovation activities of enterprises Li Jialin, Dong Jiachang 2023, 44(9): 47-59.  Abstract ( 204 )     Characterized by high investment, high risk and positive externality, innovation activities are more sensitive to changes in resource conditions and market environment. When local governments invest a large number of resources to support firm innovation activities in the region, a close relationship is formed between the two. By translating central decisions into local operational texts, policy goals and decision-making actions of local governments have a significant impact on regional innovation entities. Local governments often face multiple task objectives, thus need to weigh and make trade-offs. Although technological innovation has always been a key aspect of economic development and an important field of policy formulation, the focus of local governments′ attention may vary in different periods. Existing studies has conducted rich explorations on the formation and changes, conflicts and competition, allocation and configuration of local government attention, but there is a lack of research that takes local government attention as the point of penetration for understanding local government policy priorities as well as resource layout and empirically tests its innovative effect from this perspective.         At the practical level, government departments at all levels use various means to unify policy objectives. Focusing on local government attention can better reflect the goals and policy guidance of local governments, and more comprehensively explore the impact of local governments on firm innovation. From the perspective of limited attention, this paper studied the influence of local government attention allocation on firm innovation activities using measures based on local governments′ work reports and data of listed firms on A-share market. It was found that: increase in local government attention drives firms′ innovation activities, and enhances firm innovation input, innovation output as well as innovation quality significantly. Besides, both substantive innovation and strategic innovation can be enhanced when local government attention increases. However, innovation driven by local government attention tends to be asymmetric between exploitative innovation and exploratory innovation. It positively affects the latter while negatively affects the former. Further analysis illustrated that compared with eastern areas and central areas, the promoting effect towards firm innovation in western areas is limited. Meanwhile, while preferential taxation is a marked channel, government subsidy is not. This paper provides theoretical and practical support for analyzing driving forces of firm innovation activities as well as economic influence of increase in local government attention. Based on the studies, some policy suggestion and management inspiration are given to support and advance innovation development strategy to better utilize the role of local government.For local governments, they should firstly provide sufficient and sustained attention to the innovation field to avoid disrupting firm innovation activities caused by uncertainty stemmed from cyclical fluctuations. Secondly, they should correct policy target deviations, optimize institutional mechanisms, and refine innovation policies designs to fully leverage the role of local governments in improving resource allocation efficiency and serving the innovation needs of firms when local government attention increases, in order to avoid the "misplacement, offside, vacancy" of the local governments from exacerbating the mismatch of innovation resources and prevent the tendency of "short-sightedness" and "arbitrage" in innovation activities driven by local government attention. Third, they should also promote the innovative infrastructure construction, improve the intellectual property protection system, optimize the investment and financing functions of the capital market, therefore unblock the investment, financing and innovation channels of the real economy while continuously boosting the confidence of market entities, so as to give full play to the incentive role of positive signals brought by local government attention.For firms, they should firstly actively explore innovation, continuously improve innovation efficiency while increasing innovation investment, fully utilizing internal and external resources to improve innovation quality. Secondly, with the goal of achieving high-quality development and adhering to firms′ long-term strategy as the guidance, they should continuously improve their innovation strategies, fully identify policy opportunities, effectively utilize external support to overcome difficulties, and take a good grasp of the relationship between exploratory innovation and exploitative innovation. Thirdly, they should continuously optimize innovation decision-making, improve governance level, strengthen their internal supervision, promote entrepreneurial spirit and make good use of the opportunities for improving the innovation environment and optimizing innovation conditions brought by the increase in local government attention, to avoid strategic innovation driven by short-term preferences from interfering substantive innovation. Related Articles | Metrics

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Research on the impact of foreign ownership on green innovation of OFDI state-owned enterprises:Micro-evidence from Chinese industrial listed companies Wu Chong, Yue Mengyao, Chen Meihua 2023, 44(9): 60-70.  Abstract ( 248 )      After experiencing rapid economic growth, China′s green and low-carbon transformation and development is now in an urgent stage. However, the foundation of our independent innovation is relatively weak, especially there is still a significant gap between our green technology level and that of developed countries. It is important for SOEs to improve their innovation level through governance structure reform to fulfill their mission of promoting green and low carbon transformation. With the development of China′s OFDI in recent years, the relationship between OFDI and domestic technological progress has been discussed theoretically and empirically. Unfortunately, most studies on the relationship between OFDI and enterprise technological innovation do not consider the strategic position of SOEs and ecological environmental factors. Combined with the objective of this paper, how do foreign ownership and its driving factors promote OFDI reverse green technology spillover of SOEs? The answer to this question is of great theoretical and practical significance for utilizing foreign ownership′ governance effect and complementary advantages and promoting the green innovation ability of SOEs.This paper innovatively integrates the relationship among foreign ownership, internationalization process and SOEs′ green innovation into a research model, and takes the "decentralized checks and balances" and "in-depth governance" as different representations of the role of foreign ownership. On this basis, the paper takes Chinese hybrid OFDI state-owned listed industrial companies in Shanghai and Shenzhen as samples to study the impact of foreign ownership on OFDI SOEs′ green innovation. The research finds that: (1) Comparing with the integration level with foreign ownership, the participation degree of foreign ownership plays a more active role in OFDI SOEs′ innovation. (2) The positive effect above mentioned is stronger in host country with high environmental regulation level, non-state holding enterprises and high pollution industries. (3) Comparing with the integration level with foreign ownership, the mediating effect of host country′s innovation level is significantly enhanced on the participation degree of foreign ownership. (4) With the increasing degree of environmental regulation, especially market-based environmental regulation, the relationship between foreign ownership and SOEs′ innovation is increased significantly. From the perspective of reverse technology spillover, this paper discusses the realization path of foreign ownership in promoting SOEs′ green innovation, reveals the important role of building a new type cooperative relationship of "integration" and "deep" with foreign shareholder partnership and complementary advantages in stimulating SOEs′ green innovation, which is conducive to the strategic decision-making of SOEs′ green innovation and the optimization of national incentive policies.By verifying the impact of foreign ownership on the effectiveness of OFDI SOEs′ green innovation, this paper provides a new study perspective for mixed ownership reform and useful references for the current policy design of SOE reform and green low-carbon transformation: Based on the above findings, this paper proposes the following management implications. Firstly, the synergy of the comparative advantages of foreign shareholders should be well exploited. In addition, comparing to the complementary function of higher ownership dispersion degree after foreign shareholders′ entry, SOEs should take good advantage of higher foreign ownership participation level to create a more conducive internal and external innovation environment for the technology-seeking strategic decisions and reverse technology spillovers. Secondly, the pivotal role of the investment location should be actively developed to take advantage of the situation. SOEs should make good use of foreign shareholders to choose the host country, which has more complementary innovation resources to support the upgrading of SOEs′ technological development trajectories and enhance the effect of their reverse technology spillovers. Thirdly, the moderating effect of compatible domestic environmental regulatory incentives should be fully utilized. With the role of foreign shareholders with mature green innovation awareness and technology development experience, SOEs can enhance their overseas technology search and innovation exploration in response to environmental regulations, thereby enhancing the absorption and transformation of advanced green technologies and knowledge. Related Articles | Metrics

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Research on the fitting and combination of catch-up oriented innovation policies Geng Hongjun, Wang Chang, Zhang Cuihong, Yao Hailin 2023, 44(9): 71-79.  Abstract ( 108 )      It is the important strategic task of scientific and technological innovation research to promote the innovation breakthrough of key core technologies and realize self-reliant self-improvement in science and technology. At present, through the implementation of innovation-driven development strategy and formulating scientific and technological innovation policies, China has already achieved technical innovation breakthroughs in some fields, but the key core technology "jamming" problem has still not been completely solved. Mission oriented innovation policies guided by system failure theory is a new policy paradigm which is deal with the significant social challenges such as “urgent, difficult, risks, and heavy” scientific problems. Catch-up oriented innovation policies is the application of mission-oriented innovation policies in the late-development country, can emphasis on promoting technological capability from catch-up to lead, can provide new policy solutions for solving the "bottleneck" problem of key core technologies. At present, the research on catch-up oriented innovation policies is still in its infancy, and scholars have not reached a consensus on the structural dimensions of catch-up oriented innovation policies, and the research on policy mechanism is insufficient, which is difficult to provide substantial theoretical guidance for the government to accurately formulate and implement catch-up oriented innovation policies. To fill the gap, this paper studied the catch-up oriented innovation policies in the new energy automobile industry and wind power industry based on grounded theory based on perspective of system failure theory. The conclusion of this paper includes the following three aspects: firstly, the catch-up oriented innovation policies is an organic whole formed by policy intention, policy action and policy guarantee. Policy intention guides the direction of policy action, which is mainly composed of objective traction and path design. Policy action is the main measure to realize policy intention, including main policy tool for cultivating enterprise, policy tool for constructing infrastructure, policy tool for building capability, policy tool for creating market; policy guarantee provides conditional support for policy action, including policy tool for institutional strategy, policy tool for providing innovation elements and policy tool for organizational building. Secondly, the intention of catch-up innovation policies can be divided into two types of "overtaking on curves" and "overtaking by changing lanes", which require different combinations of policy tools and their fit. Among them, the policy tool combination that fit the policy intention of "curve overtaking" focuses on improving the function and structure of the technological innovation system of the existing technological trajectories and promoting the substitution of domestic technology to foreign technology. The combination of policy tools that fit the policy intention of "lane changing and overtaking" focuses on reshaping the function and structure of the technological innovation system of the technological trajectories of emerging technologies and promoting the replacement of traditional technologies by emerging technologies.Thirdly, different stages of catch up require the different combination of policy tools to form different policy mechanisms for promoting the continuous upgrade of technological capability. In the entry period, the combination of policy tools, such as policy tool for cultivating enterprise, policy tool for constructing infrastructure, policy tool for building capability, can resolve infrastructure failure and interactive failure by forming the policy incentive mechanism, and improve production and manufacturing capability. In the gradual catch-up period, the combination of policy tools, such as policy tool for creating market, policy tool for institutional strategy, can resolve the capability failure by forming a policy back-forcing mechanism, and improve the component innovation capability. In the leapfrog period, the reshaping and adjustment of policy tool for creating market, policy tool for institutional strategy, can resolve institutional failures by forming a competitive mechanism, and enhance structural innovation capability.This paper will have some practical enlightenments for industrial catch-up practices. First of all, when promoting industrial catch-up, the government should grasp the implementation scenarios and conditions of the catch-up innovation policies by using the analysis framework of “policy intentions-policy actions-policy guarantee”, and then identify the list of available policy tools for enhancing the space for policy implementation. Secondly, it is necessary to grasp the types of industry based on policy intentions of “overtaking on curves” and “overtaking by changing lanes”, and implement fitting combination of policy tools to enhance the synergy of policy effects. Finally, it is necessary to adapt to the catch-up cycle to formulate a combination of policy tools that fit the catch-up stage to enhance the effect of policies. Related Articles | Metrics

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The first set of major technical equipment insurance and innovation of enterprises Zhou Donghua, Peng Jianfei 2023, 44(9): 80-90.  Abstract ( 112 )      In order to change the unfavorable situation of high-tech equipment manufacturing industry and upgrade China from a manufacturer of quantity to one of quality, the Ministry of Industry and Information Technology of China, the Ministry of Finance of China and the China Banking and Insurance Regulatory Commission jointly launched the first set of major technical equipment insurance (FMTEI) aimed to encourage independent innovation for high-tech industry in China in 2015. Whether the FMTEI can effectively solve the sales problem of the first set of products, and then improve the enthusiasm of the insured enterprises for independent innovation is directly related to whether China can successfully realize the high-tech upgrade of the equipment manufacturing industry. Therefore, it is particularly important to study the incentive effect of the FMTEI on enterprise innovation.This paper examined the impact and mechanism of FMTEI on enterprise technological innovation, based on the A-share listed companies in Shanghai and Shenzhen from 2010-2019. The results showed that the FMTEI significantly improves the technological innovation of enterprises, and the more products insured by FMTEI in the group, the stronger the technological innovation ability. In addition, after the enterprises participated in the FMTEI, it not only solves the problem of sales the first set of products, expanded the market sales of the first set of products, and enhanced the enthusiasm of the enterprises′ innovation; it also reduced the external risks faced by the enterprises, transferred the responsibility of the enterprises due to the defects of product quality, and thus improved the enterprises′ ability to bear the innovation risks and enhanced the technological innovation level of the participating enterprises. The level of technological innovation of the insured enterprises is also significantly improved. Furthermore, the FMTEI has a more significant incentive effect on enterprises in the eastern region and enterprises in more competitive markets.This paper has several policy implications: firstly, FMTEI has a significant incentive effect on the participating enterprises. Therefore, the equipment manufacturing industry should use them to manifest the sales of those product, which can be solve the external market risk, to achieve a virtuous cycle of "R&D innovation - new product sales - R&D innovation". Secondly, the government′s pilot project to promote the FMTEI has its policy effect, but the relevant departments should learn from the valuable experience of the pilot project to develop more effective first set of insurance products. In particular, the government in the central and western regions should be further improved to give full play to the incentive effect of the FMTEI. Thirdly, high-tech manufacturing enterprises should give full play to the role of the FMTEI risk underwriting in the face of the international complexity environment, which should verify the quality and innovation of the products through a more competitive market from the domestic market to the international market, and completely get rid of the constraints of technology in foreign developed countries.The enlightenments of this paper are as follows: Firstly, the first set of major technical equipment insurance (FMTEI) is the first long-term incentive mechanism for independent innovation in high-tech industries in China, which is also one of the specific insurances in China. This paper is the first of its kind to study the relationship between FMTEI and innovation, which is helpful assessment of the policy effect of the FMTEI. Secondly, the literature studies on insurance and corporate innovation have focused on directors′ and supervisors′ liability insurance, technology insurance, patent enforcement insurance, and product liability insurance, and little literature has yet discussed the relationship between FMTEI and corporate innovation. Therefore, this paper investigated the impact of FMTEI on corporate innovation, which is beneficial to enrich the research related to the field between insurance and financial management. Thirdly, this paper verified the incentive effect of FMTEI on enterprise innovation from the view of marketing and risk taking, which helps to clarify the path of the effect of FMTEI on enterprise innovation, thus providing empirical evidence to further enhance the enthusiasm of enterprise independent innovation and promote high-tech transformation of equipment manufacturing industry. Related Articles | Metrics

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Research on the influence of industrial obots on the trans-regional transfer of manufacturing industry in China Ye Tanglin, Wang Xueying, Liang Xinruo 2023, 44(9): 91-98.  Abstract ( 86 )      The paper analyzes the motivations of industrial transfer from such three forces as the "attractive force" of the place where the industry moves into, the "propulsive force" and "pulling force" of the place where the industry moves out, and it is believed that industrial robots are a typical inward "pulling force" of the place where the industry moves out, which will affect the cross-regional transfer of manufacturing. Based on this, some research hypotheses have been put forward in this paper. In order to verify the rationality of the hypothesis, on the one hand this paper draws on the measurement method of industrial space transfer by Qin Chenglin and Xiong Xueru (2013), by calculating the location quotient index of the automobile manufacturing industry in 30 provincial-level regions in China from 2008 to 2019, and performing differential processing, we can analyze whether there is a slowdown in the trend of cross-regional transfer in the automobile manufacturing industry. The analysis shows that most of the provincial-level regions in China that have promoted industrial robots on a large scale, their automobile manufacturing industry has undergone a more obvious transition from transfer-out to transfer-in after 2012.On the other hand, this paper uses China′s provincial panel data and China′s customs import and export data from 2008 to 2019 to construct a panel regression model in order to analyze the impact of industrial robots on the "stickiness" of the regional manufacturing industry and its spatial transfer. And from the perspective of labor prices, it further explored whether there is a threshold value for the specialization rate of the manufacturing area affected by industrial robots. The research draws the following conclusions: (1) Industrial robots has changed the demand structure of production factors in the manufacturing sector and the matching efficiency of production factors in various regions, alleviating the cost pressure faced by the development of China′s manufacturing industry, and by enhancing the transfer of industries. The "pulling force" is manifested in the increase in the specialization rate of manufacturing regions, which inhibits the cross-regional transfer of manufacturing. (2) When the labor price reaches a certain level, industrial robots can effectively enhance the "stickiness" of the industrial transfer area, thereby inhibiting the cross-regional transfer of manufacturing. Based on the above analysis, this paper believes that promoting the large-scale popularization and application of industrial robots will help China′s manufacturing industry to achieve " labor-saving" and "intelligence" automatic upgrades, and alleviate the development dilemma caused by the gradual disappearance of labor cost advantages, and maintain a dominant position in the "lower competition". In addition, industrial robots have weakened the importance of labor dividends to the spatial layout of the manufacturing industry. The trend of manufacturing to "automation and intelligence" will lead to the large-scale deployment of industrial robots in the manufacturing industry in the future, and the use cost of industrial robots will become an important direction for the manufacturing industry to obtain new comparative advantages.Further analysis believes that clean energy such as hydropower, photovoltaics, and wind power in the central and western regions of China is extremely abundant, and has a cost advantage in the application and promotion of industrial robots. Coupled with the decline in transportation costs brought about by the continuous improvement of transportation infrastructure, the manufacturing industry that is more dependent on industrial robots in the future has the potential to transfer to the western region. Although the eastern region will also embed industrial robots in the manufacturing industry, its motivation is to strengthen its own resistance to the impact of uncertain factors, obviously different from that of the central and western regions. Therefore, the promotion of the large-scale application of industrial robots in the eastern region should aim at "intelligent" production, promote the deep integration and upgrading of the manufacturing process, improve product quality, seize market opportunities, and promote the overall upgrade of the manufacturing value chain. References | Related Articles | Metrics

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Research on the innovation effect of industrial support policy from the perspective of central-local synergy and deviation Zhou Xiaomei, Huang Xin 2023, 44(9): 99-109.  Abstract ( 156 )      The 14th Five-Year Plan clearly pointed out that China should accelerate the construction of a strong manufacturing country and exert the role of advanced manufacturing in the optimization of the industrial structure. In view of the coexistence of China′s market-and- administrative resource allocation, the government has issued a series of industrial policies aimed at encouraging enterprises to innovate. In this paper, the data of A-share manufacturing listed companies in Shanghai and Shenzhen stock ranging from 2012 to 2019 are matched with the central and local "Five-Year Plan" texts, and empirically analyzes the effective boundaries and role paths of industrial policies under the background of the central-local decentralization system.The significance of this paper lies in the following aspects: First, based on the contract theory, the paper analyzed the impact of industrial support policies on enterprise innovation under the divergence of central and local goals, and extended the existing debate on the "industrial policy effectiveness" to the exploration of "industrial policy effectiveness boundary". Secondly, from the institutional background of the central-local decentralization under the reform of China′s economic system, the paper clarified the influence of the central-local policy synergy of "reasonable planning" and the central-local policy deviation of "independent division of labor" on the industrial innovation pattern, therefore clears the policy model to stimulate innovation of Chinese enterprises under the innovation-driven-development strategy. Finally, based upon the implementation of government support policies, the paper explored the paths of central-local policy synergy from industry and enterprise levels, and divided them into fiscal and tax policies that directly affect enterprises and the optimization of institutional environment that indirectly affects industries and regions, in order to provide a scientific basis for improving the utilization efficiency of R&D resources.The research found that: (1) Compared with the strategically oriented central industrial support policies, the local policies can better promote the overall innovation level of enterprises by "adapting to local conditions". (2) Under the institutional background of the central-local decentralization system, the central government tends to encourage state-owned enterprises to carry out substantive innovations based on invention patents, while local governments prefer to encourage private enterprises to carry out strategic innovations based on non-invention patents. (3) Central-local policy synergy can realize the embedded complementation of the central policy′s forward-looking screening advantage and the local resource efficiency integration advantage, thereby stimulating enterprise innovation. Many drawbacks such as local governments do not conform to local comparative advantage industries in order to meet the central policy development have not emerged. (4) The central-local policy deviation that seriously deviates from the central top-level design capability and the local resource endowment advantage is not conducive to enterprise innovation. (5) Central-local policy synergy can not only directly affect enterprise innovation in the form of financial subsidies and tax incentives, but also indirectly affect enterprise innovation by weakening administrative barrier and local protectionism and giving play to the market competition mechanism.The policy implications can be summarized as follows: (1) The policy makers should streamline administration and delegate power, consolidate the dominant position of the market mechanism in the allocation of R&D resources. (2) They should make the best use of the situation and realize the drainage effect of top-level design in the development of industrial innovation strategy. (3) They should also adapt measures to local conditions and give full play to the comparative advantages of local factor endowments in the transformation of the industrial structure. (4) They should execute effective coordination to improve the coupling degree of central-local policies in core technological innovation. References | Related Articles | Metrics

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Research on the impact of firm relocation on technological innovation Tang Jinyue, Luo Shougui 2023, 44(9): 110-119.  Abstract ( 168 )      Relocation is an adjustment strategy for firms to seek the optimal business location, which has been a classic topic in the field of regional economics. Relevant studies have investigated the spatial patterns and influencing factors of firm relocation and its impact on economic benefits, while few have discussed the effects of firm relocation on innovation performance. Based on the theoretical analysis of the relationship between firm relocation, firm characteristics and innovation performance, the hypotheses proposed are as follows: there is a positive correlation between firm relocation and technological innovation performance; the positive effect on manufacturing and non-high-tech firms is lower than that on service industry and high-tech firms; the effect on large firms is higher than small firms; the effect of non-state-owned firms is higher than state-owned firms; the effect on firms moving from urban areas to suburbs is higher than that of moving from suburbs to urban areas; the effect on firms moving into special economic zones is higher than that on firms moving out of zones.This paper used the annual survey data on technology firms collected by the Shanghai Science and Technology Committee (STCSM) during the period of 2011-2018, and the staggered difference-in-difference model. The dependent variable is the amount of intellectual property applications of firms in each year, and the independent variable is whether the firm had moved in each year. The model also controls firm characteristics including R&D labor, R&D expenditure and its quadratic term, income, asset, age, high-tech certification, firm fixed effects and time fixed effects. The model has satisfied the parallel trends assumption. The research results confirmed the hypothesis that firm relocation within Shanghai has a positive effect on their technological innovation performance, and investigates the heterogeneity of promoting effect. The main conclusions of the study are as follows: Firstly, regional environment affects the innovation behavior of firms, so firms relocate to regions with better innovation environment and knowledge spillovers for the purpose of maximizing innovation production. As a result, relocation within the city has a significant positive effect on firms′ innovation performance. The account of patent applications after relocation increased by an average of 6.4% compared with that before relocation. Further sub-sample research showed that relocation has different impacts on firms in different industries. The cost of migration for manufacturing firms is relatively large, and they are often passively relocated because of urban planning and government policy about industrial transformation and upgrading. Secondly, the research results confirmed the hypothesis that the effect of service industry is stronger than that of manufacturing firms. High-tech firms are less dependent on natural conditions such as land and energy, so it is relatively easy to transfer to advantageous locations in space and obtain superior innovation resources, and form more technological innovation output. Specifically, the account of intellectual property applications increased by 3.7% after the relocation of non-high-tech firms, while that of high-tech firms increased by 6.7%. After dividing our sample into micro, small, medium and large firms, the results showed that the larger the firms, the higher the technological innovation effect of their relocation. Larger firms have stronger ability to adapt to the environment and resist risks; for example, relocation has no significant impact on micro-firms, while it increases applications of large firms by 7.7%. Moving decisions of state-owned firms may be interfered by the government, which are not always correlated with their own interests and strategies. Thirdly, the research results showed that relocation has a higher effect on non-state-owned firms′ technological innovation increase, while it has no significant impact on state-owned firms. Moving to the suburbs and special economic zones makes a higher impact on promoting firm technological innovation, which is possibly because high operating costs of locating in urban areas decrease firms′ R&D input, and special economic zones provide a superior business environment and incentive policies for firms to innovate. To ensure that the results are robust, this paper constructed a subsample with more comparable treatment group and control group, with the propensity score matching method adopted. Additionally, the accurate discontinuity model was used to test the effect again, which has confirmed our results from the baseline regression. References | Related Articles | Metrics

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Research on the impact of equity incentives on the corporate social responsibility report disclosure Zhang Nan, Jiang Xu, Wang Chufan 2023, 44(9): 120-130.  Abstract ( 230 )       Although many firms have begun to implement equity incentive plans, as an economic tool, can equity incentives help firms achieve social goals? Based on the dual perspectives of legitimacy and efficiency, this paper explored the differential impact of equity incentives on corporate social responsibility (CSR) report disclosure and its boundary conditions, aiming to identify how equity incentives as an economic instrument affect firms′ pursuit of CSR goals, thus helping firms achieve both economic and social goals.Taking the Shanghai and Shenzhen listed companies that disclosed CSR reports from 2009 to 2019 as the research sample, it was found in the research that equity incentives can help firms actively disclose CSR reports, but equity incentives have an inverted U-shaped impact on the quality of CSR report disclosure, that is, the appropriate proportion of senior executives′ shareholding has a strong promoting effect on the quality of CSR report disclosure, and too high or too low shareholding ratio cannot effectively improve the disclosure quality of CSR reports, so equity incentives are not always the "booster" for firms to disclose CSR reports. Further research found that equity concentration enhances the positive relationship between equity incentives and CSR report disclosure speed, but weakens the inverted U-shaped relationship between equity incentives and CSR report disclosure quality. This paper has also made some contributions as follows. First, this paper integrated the dual perspectives of legitimacy and efficiency, deeply explained the contradiction between shareholders and executives in pursuing corporate social goals and economic goals, clarified the different influence mechanisms of equity incentives on CSR report disclosure strategy choices, enriched the research perspectives of equity incentives and CSR report disclosure, and provided new ideas for solving corporate governance problems. Second, as most previous studies have followed the research paradigm of economic means to achieve economic goals, they have not reached consistent research conclusions. This paper proposed a different research paradigm by exploring how equity incentives affect executives′ pursuit of social goals, revealing that equity incentives do not always promote efficient corporate governance. Finally, as most previous studies have focused on the impact of a single factor on executives′ strategic decisions, this paper, based on the firm′s internal incentive mechanism and equity structure, studied the interaction between equity incentives and equity concentration, clarified the effect of executives′ equity incentives on CSR report disclosure strategy under different equity concentration, and pointed out the boundary conditions for equity incentives to affect CSR report disclosure strategy. Therefore, this paper will provide new insights for the research on the influencing factors of CSR report disclosure, and further enrich the role of ownership structure in CSR report disclosure. At the same time, the study of equity concentration also showed that equity concentration is a double-edged sword. Therefore, this paper will also further expand the relevant research on corporate governance.With China′s vigorous implementation of green development and the requirement for firms to pursue high-quality development, CSR report disclosure has become an important target for stakeholders to investigate firms. This has prompted us to re-evaluate the speed and quality of CSR report disclosure and explore the key factors that may influence and drive CSR report disclosure. Second, as CSR report disclosure plays an important role in the sustainable development of firms, appropriate equity incentives for executives are conducive to decision-making based on the long-term interests of the firms. Third, the conclusions of this paper will have significant reference for the formulation of corporate equity incentive plans and the promotion of CSR report disclosure. Finally, this paper will inspire firms to comprehensively consider the impact of equity incentive and equity concentration on corporate governance, and formulate reasonable and effective corporate governance decisions to help firms achieve better development. References | Related Articles | Metrics

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Identification and solution of foreign technology trajectory lock-in in the process of manufacturing upgrading Fan Shuqin, Liu Guoxin, Zhang Pengfei 2023, 44(9): 131-140.  Abstract ( 123 )      In the context of Sino-US trade disputes, the main challenge facing China′s manufacturing upgrading is the “neck-jamming” problem in the key and core technology fields, which is rooted in the “technology lock-in” strategy implemented by the first-mover countries such as the United States, Japan, and the European countries to the later-mover countries. Moreover, technology trajectory lock-in is one of those forms. How to identify the strategic layout of foreign technology trajectory lock-in as soon as possible and adopt an effective cracking strategy in time is of great significance for breaking through “neck-jamming” technology, promoting the process of upgrading China′s manufacturing industry, and maintaining national industrial security.Based on the situation of manufacturing upgrading in China, this paper proposed a recognition and analysis framework and a cracking path of foreign technology trajectory lock-in from the perspective of the patent citation network. Firstly, based on the collected patents data, the patent citation network was constructed by Matlab and Pajek software, and the technical trajectory—the main path of the maximum connected graph was identified and extracted by the main path SPC algorithm. Then, focusing on the index of “technology origin country”, the characteristics of technology trajectory were described in detail by using integral and local atlas analysis. Finally, based on the measurement of the patent fragmentation index, the organizational breakthrough strategy of foreign technology trajectory lock-in was proposed from the perspective of patent concentration strategy.The following conclusions were drawn from this research: firstly, the technological evolution trajectory of lithium battery separators technology has experienced two stages, including the main trajectory lock-in in the early stage (from 1976 to 2004) and the diversified development path of four sub-trajectories in the late stage (from 2005 to 2020). The latter two sub-trajectories were fused, which verified Barsala′s theory of technology evolution tree and indicated that the technology trajectory identification method adopted in this paper was applicable and can be extended to other technology fields for technology trajectory identification and extraction.Secondly, focusing on the index of “technology origin countries”, countries that have made technical contributions to the evolution and development of lithium battery separators technology mainly include Japan, the United States, and South Korea. Although Chinese patents have appeared in the sub-trajectory of technology, China, as the source country of technology, has not yet appeared on the main path. This verified the fact that China′s lithium battery separators technology field was locked by foreign technology as reported in Science and Technology Daily, indicating that the analytical framework of foreign technology trajectory lock-in proposed in this paper is effective and reliable, and can be extended to other technology fields to identify and analyze foreign technology trajectory lock-in.Thirdly, the patent fragmentation index was used to measure the patent concentration source. It was found that China′s patent fragmentation index has continued to rise in the past decade, far higher than the United States, Japan, and South Korea in the technological trajectory, which suggested that much of China′s patent resources are currently in extreme fragmentation, so the breakthrough strategy of organization mode based on patent concentration strategy was proposed.The main contributions of this paper are as follows. On the one hand, this paper put the technical trajectory lock-in with manufacturing upgrading into the same analytical framework. Based on the overall map and local map meticulous analysis, the characteristics of technological trajectory were described in detail, which provided the possibility for the early identification of foreign technology lock-in in the context of China′s manufacturing upgrade. On the other hand, on the basis of using the patent fragmentation index to measure the patent concentration degree of the first-mover countries on the technology trajectory, the patent concentration strategy was used as an organizational method to lock in technology breakthroughs, which made the path of lock cracking more distinct, with both theoretical robustness and practical operability. Related Articles | Metrics

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A study on the impact of outward foreign direct investment on exports under the protection of intellectual property rights Zhang Huiying, Liu Yikang, Liu Dayong 2023, 44(9): 141-151.  Abstract ( 104 )      In recent years, the scale of China′s outward foreign direct investment (OFDI) has grown rapidly. The impact of OFDI on export trade has been widely discussed. The existing literature on the relationship between OFDI and exports has focused on whether the two are substitutive or complementary, but no consensus has been reached. Previous research on the influencing factors of the relationship between OFDI and exports has mainly examined the influence upon their relationship of differences in industrial structure, financial development and factor endowments between the home and host countries (regions), but few studies have focused on differences in intellectual property rights (IPR) protection. This paper focus on the influence of OFDI on export trade and the moderating effect of differences in IPR protection. The eclectic paradigm identifies four primary motivations for OFDI: market-seeking, resource-seeking, efficiency-seeking and strategic asset-seeking. OFDI for the purpose of market- and resource-seeking can promote the export of intermediate products and equipment that are required for the production and development of natural resources in the host country (region). Efficiency-seeking and asset-seeking OFDI can increase the productivity of home country firms by optimizing resource allocation, respectively, thereby expanding exports. Based on this theory, this paper′s first hypothesis is that an increase in OFDI from the home country to the host country is accompanied by an increase in exports. Almost inevitably, there will be differences in IPR protection between a home country (region) and a host country (region). With greater differences in IPR, exports of high-tech products, such as intermediate products and production equipment, will be lower; and the productivity improvement effect of OFDI on firms in the home country (region) will be reduced, thereby reducing exports. This paper′s second hypothesis is therefore that, as the difference in IPR protection between the home country and the host country increases, the export creation effect of OFDI weakens.This paper used the panel data from 2006 to 2019 and applied the system GMM to estimate the relationship between OFDI and export. Robustness tests were performed by replacing the dependent variable or by changing the estimation method. This paper also divided the sample into developed and developing economies to test the heterogeneity of moderating effect.The study results indicated that OFDI positively affects exports and that the positive effect of OFDI on exports may be weakened with greater differences in IPR protection. The empirical evidence at the macro level supports the results of the theoretical analysis and is robust to different variable settings and econometric methods. Regression analysis based on sub-samples also showed that OFDI may positively affects the export trade.China has continuously improved the creation, utilization, protection, management and service of intellectual property. China has also actively participated in the global governance of intellectual property rights, promoting the improvement of intellectual property rights related international rules and standards for international trade and international investment. The rational public policies are beneficial to enterprises which have comparative advantages and provide high-quality products and services to the world market in the open economy.  Related Articles | Metrics

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Research on the impact of drug patent invalidation of innovative pharmaceutical companies on the follow-on innovation of other innovators Li Yan, Zhu Xuezhong 2023, 44(9): 152-161.  Abstract ( 95 )      The patent is considered as a key policy instrument to encourage new drug innovation; however, pharmaceutical invention patents present the characteristics of "difficult to authorize but easy to invalidate", the invalidation rate of drug invention patent rights of innovative pharmaceutical companies in China is as high as 86%. What is the effect of drug patent rights invalidation on follow-on innovation? Does it match the patent system′s goal of stimulating innovation? In this paper, we selected enterprises with innovative drug R&D ability in China′s market as the research unit, and drug patents of innovative pharmaceutical enterprises that have been requested for invalidation in China were taken as samples. Using the data on requests for invalidating the drug patent rights of innovative pharmaceutical enterprises at the Patent Reexamination and Invalidation Department of the Patent Office, China National Intellectual Property Administration (CNIPA), we studied the causal impact of a drug patent′s invalidation on the follow-on innovations by other innovators. The biggest challenge in our empirical work identifying the causal effect of patent rights invalidation on later innovation is the potential endogeneity of invalidity decisions. For instance, drug technologies with greater commercial values are both more likely to be heavily defended by the patent holders and to be an attractive target for follow-on innovations. To address this potential endogeneity of invalidity decisions, we need an instrument that affects the probability of patent invalidation, but at the same time does not affect follow-on innovation especially citations by other downstream innovators directly, therefore creating exogenous variation in patent invalidation. There is a fortunate institutional fact that the Patent Reexamination and Invalidation Department adopts collegiate examination, cases that are collegially examined by a panel consisting of three or five members, including a chairman, a first member, and one or three second members respectively. The first member is responsible for comprehensive examination of the case. We construct our instrument around the variation in the first member′s propensity to invalidate patents. Furthermore, we instrument invalidated with the predicted probability of invalidation obtained from the probit regression on the fractions of invalidity by the first examiner of panel, to control for the endogeneity of invalidation. We showed empirically in the study that there is substantial variation in the age distribution of challenged patents at the time of the CNIPA decision. Drug patents involved in invalidation requests cases are highly valuable. Patent invalidation leads to a 50% decrease of forward citations to the focal patent from other innovators, on average, which is not in line with previous studies based on the developed countries such as the United States and Europe. This means that patent rights of innovative drug companies in the Chinese market can stimulate the follow-up innovation of other innovative entities in the pharmaceutical industry. Our study will contribute to the literature on the effect of patent invalidation on cumulative innovation in several ways. First, compared to previous work, the underlying data in our study comes from post-grant invalidation requests at the CNIPA, instead of patent validity litigation before US courts or post-grant opposition at the EPO. Second, CNIPA citation data used in this paper will alleviate a key point of criticism concerning the analysis of cumulative innovation proxied by forward citations. In contrast to the US patent system, CNIPA citations are made by CNIPA during the substantive examination phase and not by the applicant. On the one hand, potential bias in citations by applicants is avoided. On the other hand, with no obligation of the applicant to disclose prior art, the average number of CNIPA patent citations is lower, whereas their technological relevance with focal patents appears to be higher. Third, we employed an instrumental variable which is new in that it represents the first instrument for patent invalidation in the context of the China patent system, which not only lacks the randomized administrative processes that allow for a proper identification of judge fixed effects, but also lacks the event of administrative personnel overlap in the substantive examination and invalidation requests procedure. Fourth, we showed in the paper that in the emerging market environment, under the circumstance that the follow-on innovators have low ability to innovate and tend to adopt a defensive-oriented patent application strategy, the causal effect of a patent′s invalidation of pharmaceutical companies on follow-on inventions by other innovators is so different. The different influence effects on innovation behaviors will enrich the theoretical understanding of the relationship between patent rights and innovation activities. Related Articles | Metrics

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A shift from entrepreneurial passion to employee creativity: A dual process perspective on passion delivery Li Chang, Zhu Taiqiu, Shen Yichao 2023, 44(9): 162-170.  Abstract ( 120 )      How entrepreneurial passion stimulates the creativity of employees is the focus of entrepreneurship research. Although there are some studies on the relationship between passion and creativity in the existing literature, most of them are based on the perspective of employees while few have discussed the impact of entrepreneurial passion on employee creativity. In recent years, some scholars found that entrepreneurial passion influences employee creativity through middle managers′ leadership style. They also proposed that the future research needs to consider other mediation mechanism. To fill the research gap, this paper analyzed how entrepreneur passion affects employee creativity at different levels from the perspective of cognitive and emotional processes of passion transmission.Based on the theory of emotional contagion, entrepreneurial passion will affect the employees′ working enthusiasm through emotional contagion process. The passionate entrepreneurs are more likely to show transformational leadership behavior to provide employee with adequate resources and freedom to verify its ideas and creativity, improve employees′ organizational identification. At the same time, passion is not only limited to the individual level, but also can be expressed as a team level. The team passion atmosphere will stimulate the intrinsic motivation of employees to participate in the innovation process, improve the individual cognitive flexibility of processing information, and promote interpersonal interaction among team members, which is conducive to the improvement of employee creativity. In addition, the level of self-promotion skills of entrepreneurs will moderate the transmission effect of entrepreneur passion, and then affect the mediating effect of entrepreneur passion on employee creativity through team passion atmosphere and organizational identification.This paper used the multi-level and multi-source paired data to test the hypothesis model, and it was found that entrepreneurial passion has a significant positive impact on employee creativity. Team passionate atmosphere and organizational identification play mediating role between them. The self-promotion ability of entrepreneurs not only moderates the relationship between entrepreneurial passion and team passionate atmosphere and organizational identification, but also further moderates the indirect effect of entrepreneurial passion on employee creativity through team passionate atmosphere and organizational identification.The research contribution of this paper are as follows: Firstly, based on the perspective of entrepreneurs, the influence of entrepreneurial passion on employee creativity was analyzed, which will enrich the current research on the influence mechanism of employee creativity. Secondly, considering the cross-level characteristics of the organization, this paper will enrich the research on the cross-level transmission process of entrepreneurial passion. Thirdly, it was found in this paper that there is a moderating effect of entrepreneur self-promotion on the cognitive mechanism and emotional mechanism of entrepreneurial passion, which will further clarify the boundary conditions of entrepreneurial passion. The conclusions of this paper have the following implications for entrepreneurs: First, entrepreneurs need to let their employees see and feel their entrepreneurial passion. Second, entrepreneurs should pay close attention to the cultivation of team passion atmosphere, so that the employees' identification with entrepreneurs can be further transformed into identification with the organization. Third, entrepreneurs should learn the art of self-promotion to focus on whether passion is adequately and accurately conveyed. Related Articles | Metrics

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Research on the generation and iteration mechanism of employees′ self-driving force of innovation in the science and technology enterprises Luo Jinlian, Zhang Zhifei, Li Shuwen 2023, 44(9): 171-181.  Abstract ( 158 )      Employees now serve as the main source of organizational innovation in the context of the digital age, and organizations cannot ignore the problem of how to unleash employees′ self-driven forces of innovation. However, the science and technology enterprises which playing a significant role in today′s innovation-driven development strategy, as small- and medium-sized businesses in the growth stage with limited resources, face greater demand for innovation resources. Against this background, people are currently the most valuable resource for enterprise innovation, and science and technology enterprises are crucial and more urgent for igniting the employees′ self-driving force of innovation in the organization to maximize the innovation efficiency of organizational human resources and overcome resource limitations to achieve dual and sustainable innovation. However, theoretical research, in contrast to the aforementioned practical importance, appears to be lagging behind. The current study on the self-driving force of innovation is still in the conceptualization and theoretical framework development stages. Existing studies suggest that different innovation behaviors are driven by different driving forces. However, it is unknown what are the differences in the employee drive in different innovation processes and how organizations stimulate employees′ self-driving force across layers. Given the significance of practice and theoretical gaps, how to increase employees′ self-driving forces of innovation in science and technology organizations is a pressing issue that has to be resolved in order to achieve sustainable innovation. This paper aims to answer the following two questions: First, how does the employee′s self-driving force of innovation form? Second, how can the employees′ inherent drive for innovation be realized through activation and iterative improvement? In order to answer the above-mentioned questions, this paper took Infodator Company as the research object, adopted the single-case study based on the theoretical framework of "goal setting-release signal-interpretation signal-activation", and in the end, constructed a mechanism model of the generation and iterative process of employees′ self-driving force of innovation in science and technology enterprises from a dynamic perspective. The study discovered that: First, organizational goals and cognition serve as the foundation for generating employees′ self-driving force of innovation. In the process of transforming enterprise goals from technology research and development to innovation symbiosis-led, the utilization of human resources has undergone the cognitive transformation of resources "exchange-development-generation-ecology" and achieved the "goal setting" at this point. Second, in the process of organizational cross-layer influence, the sense-giving mechanism that matches organizational cognition is the key to transmitting organizational cognition to employees and then activating their self-driving force of innovation, that is, the organization transmits organizational cognition to employees through four sense-giving mechanism: "one-way pressurization", "one-way boosting", "multi-directional linking" and "spatial field force". The "release signal" was achieved at this point. Third, under various sense-giving mechanisms, employees can "interpret signals" of organization through the attention allocation process of "sensing-attention-selection", and then realize "activation" of employees. That is to say, employees′ self-driving force of innovation emerges in different stages, and presents an iterative logic from germination, transformation to upgrade. Specifically, employees have realized the "germination" iteration from the no self-driving force of innovation to the self-driving force for idea implementation, to the "transformation" iteration of the self-driving force for idea generation, and the "upgrade" iteration of the self-driving force for idea dissemination. The role of employees in innovation is truly transformed from passive executors to active creators. At this time, the organization successfully realizes the activation of employees, making it one of the power sources of organizational innovation. The theoretical contributions of this paper are as follows: First, this paper constructed a cross-level generation mechanism chain of employees′ self-driving force of innovation by deconstructing the process of organizational cross-level influencing employees′ self-driving force of innovation, responding to the call for exploring the motivational potential factors in the work environment. Second, based on the perspective of autonomy and innovation behavior, this paper identified four types of employees′ self-driving force of innovation, examined the iterative process, and expanded and dynamized the research on employees′ self-driving force of innovation. Related Articles | Metrics

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An empirical study of the time-varying impact of the China-US trade war on the shipping market based on the LT-TVP-VAR Model Meng Bin, Li Yinjie, Bao Yu 2023, 44(9): 182-192.  Abstract ( 153 )       Shipping serves as the fundamentals of the global industrial chain and the vitals of the global economy and trade. The changing situation of economic trade caused by the China-US competition has broken the principles of the development of the shipping market. Such structural changes under unconventional economic conditions are seldom seen in the shipping market. Under these circumstances, the study of the time-varying impact of the China-US trade war on the shipping market is of great significance for the risk management of China′s shipping market and the prediction of global economic and trade trends. By establishing the LT-TVP-VAR model measuring the impacts of the policy trade variables on the shipping market variables during the period of 2004-2021, this paper analyzed the dynamic mechanisms of the time-varying responses of the shipping market under the China-US trade war, quantified the threshold effect of the China-US trade war on the shipping market, and characterized the time-varying effect of the policy trade variables on the shipping market variables from both the magnitude and duration of the impulse response. The empirical results indicated that: (1) the shipping market responds more intensively to the net exports of the US than to the net imports of China, and more intensively to the foreign direct investment of China than to that of the US. Also, the response intensities of the used ship price index, container throughput and the global freight rate index are larger than those of the new ship price index and global seaborne trade. (2) The impacts of the import and export volumes and the foreign direct investments between China and the US on the shipping market last for more than 3 years, with the intensity of the 3-year lagging impulse response being the largest. The impact of the bilateral tariffs between China and the US on the shipping market is more reflected in the short term. (3) The impacts of the foreign direct investment of the US and the China-US bilateral tariff on the new ship price index possess cyclical characteristics, while the impacts of the import and export volume, the foreign direct investment and the bilateral tariff on container throughput between China and the US all show cyclical fluctuations.The theoretical contributions of this paper are mainly twofold: firstly, the LT-TVP-VAR model measuring the impacts of the tariff, import and export volume and foreign direct investment on the shipping market was established to reveal the nonlinear and time-varying impacts of the China-US trade war on the shipping market, which further enriches the literature on the impact of China-US trade war. The fact that the threshold admissibility rate of the LT-TVP-VAR model is basically above 30% indicated the existence of a significant threshold effect, which means that the selected model can achieve better fitting results than traditional models and can effectively identify the potential structural changes in the shipping market. Second, after the financial crisis and COVID-19, the mechanism of the impacts of major events on the shipping market was further explored. Unlike other major events, the China-US trade war can significantly change the global trade situation and investment environment, which has both direct and indirect impacts on the shipping market. This paper analyzed the impacts of the China-US trade war on the shipping market from various perspectives including taxation, trade and investment. This paper will not only help the shipping market participants get a more comprehensive understanding of the impacts of the China-US trade war on different sectors of the shipping market and their internal relationships, and hence reduce the negative consequences caused by the dramatic fluctuations of the shipping market, but also provide insightful references for regulatory authorities for making forward-looking and targeted policies. Related Articles | Metrics