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Research on the evolutionary characteristics and dynamic mechanism of global innovation network Wang Ye, Qu Ruxiao 2024, 45(9): 1-10.  DOI: 10.19571/j.cnki.1000-2995.2024.09.001 Abstract ( 295 )       Integrating deeply into the global innovation network has become an important path for a country to acquire innovative breakthrough knowledge and enhance international competitiveness. Based on the data of international patent application from 1998 to 2020, this paper constructed the global innovation networks and analyzed their structural characteristics and evolution trend. Temporal Exponential Random Graph Model (TERGM) was used to deeply explore the influencing mechanism of the network from such two aspects as exogenous mechanism and endogenous mechanism. The study found that: (1) the global innovation network has become increasingly close, forming an unbalanced pattern concentrated in North America, Western Europe, the Oceania and East Asia. China′s status is significantly prominent, replacing Japan as the most influential network core country in Asia, second only to the United States. (2) The formation and evolution of the relationship of global innovation networks are affected by both exogenous and endogenous mechanisms. Countries with developed economies, high innovation capacity and large export scale are more likely to send patent applications, while large market countries with certain innovation capacity are more likely to become patent recipients. (3) Countries tend to form reciprocal patent application relationships. Under the effect of structure dependence and time dependence, countries are highly connected and have high transmissibility, and the patent application relationship chain continues to extend. This study has important practical significance for China to further improve its international patent applications and layout, deeply integrate into the global innovation network, enhance its technological autonomy, and cultivate new international competitive advantages for enterprises. References | Related Articles | Metrics

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Research on evaluation of the technological innovation efficiency of the semiconductor industry in China:Some empirical evidence from A-share listed companies Zhang Yi, Jiao Feifei, Wang Xianjia 2024, 45(9): 11-20.  DOI: 10.19571/j.cnki.1000-2995.2024.09.002 Abstract ( 146 )      The current severe international competition pattern has made China′s semiconductor industry face unprecedented challenges, and improving its technological innovation efficiency has become the focus of discussion by experts and scholars from all walks of life. Based on the relevant data of technological innovation input and output of 76 listed enterprises in China′s semiconductor industry from 2019 to 2022, this paper classified the listed companies in the semiconductor industry into five links: design, fabricate, assembly and test, equipment and materials, and used the BCC-DEA and Malmquist-DEA models to conduct a static and dynamic evaluation analysis and investment redundancy analysis of the technological innovation efficiency of the whole industry and all links of the industrial chain. The results showed that: (1) From the static perspective, the overall technological innovation efficiency of listed enterprises in China′s semiconductor industry is not high. Although pure technical efficiency is improving, the number of DEA effective enterprises is declining, less than 1/5 of the total. The average value of technological innovation efficiency in design, equipment and materials is higher than the industry average, and the technological innovation efficiency in fabricate and assembly and test is relatively weak. (2) From the perspective of dynamics, the total factor productivity of China′s semiconductor industry fluctuates greatly and the overall technological innovation efficiency shows a downward trend, while that of fabrication and assembly and test shows an overall growth trend, and that of design, equipment and materials show a downward trend. (3) From the perspective of investment redundancy, the redundancy of R&D personnel and fixed assets investment is more prominent, and that of R&D expenditure is not significant. This paper will supplement the quantitative research on technological innovation in the semiconductor industry, further expand its research perspective, and provide practical empirical basis and policy recommendations for optimizing resource allocation in the semiconductor industry and improving the efficiency of technological innovation. Related Articles | Metrics

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Complementary assets linking capacity, absorption speed and core technology breakthroughs Zheng Gang, Mo Kang, Zhu Guohao 2024, 45(9): 21-32.  DOI: 10.19571/j.cnki.1000-2995.2024.09.003 Abstract ( 119 )     In the context of US-China technological decoupling and the dual circulation strategy, it is significant for companies to achieve rapid breakthroughs in key core technologies of chip design. The complementary assets linking capacity, which accelerates the speed of technology absorption, is one method for companies to rapidly overcome key technological challenges. This study employed a longitudinal single-case study method, with Apple′s chip business as the research subject. From the perspective of complementary assets linking ability and absorption speed, the core contribution of this research is the proposal to introduce the "complementary asset linking ability---absorption speed---key core technology rapid breakthrough" theoretical model. This model defines complementary asset linking ability as the capacity of a company to link new technology R&D innovation and its commercialization across organizations, thus dividing key core technology breakthroughs into "self-developed" and "introduced" complementary asset linking modes, and revealing the breakthrough path of "technology-product-ecosystem". The study also found that the main reasons for the successful rapid linking of complementary assets by chip design companies include the enabling and influencing of partnership relationships, seizing of opportunity windows (technology, market, and ecosystem), and the distinction and linking strategies of types of complementary assets. Finally, this paper discussed from a "time" perspective how introducing complementary assets linking capacity accelerates the resolution of key core technology breakthroughs, revealing the dynamic match between the strength of complementary asset linking capacity and the speed of absorption, thereby fostering a scholarly dialogue between the fields of complementary asset linking capacity and absorption speed. References | Related Articles | Metrics

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Research on the influence effect of digital technology application on the total factor productivity of enterprises: A further discussion of the methods to resolve the new "Solow paradox" Song Deyong, Chen Liang 2024, 45(9): 33-42.  DOI: 10.19571/j.cnki.1000-2995.2024.09.004 Abstract ( 269 )       In the era of the new round of technological revolution, digital technology application has become an important engine to drive the quality and efficiency of the real economy. Based on the data of A-share listed companies in China from 2009 to 2019, this paper used the fixed effects model and instrumental variables approach to examine the effect and mechanism of digital technology application on enterprise productivity. In the research design, we used the Python crawler technology to extract the relevant word frequencies of enterprises′ digital technology application from annual reports, used text analysis to sum up all the relevant word frequencies of digital technology application, and adopted the proportion of word frequencies of digital technology application to the total number of word frequencies in the annual reports to measure the level of enterprises′ digital technology application.The study found that digital technology application has significantly improved enterprises′ total factor productivity and effectively cracked the new "Solow paradox" in the digital era. This conclusion remains sound after robustness tests such as endogeneity treatment, substitution of key variable measures, and exclusion of explanations for strategic behavior. The mechanism test found that the digital technology application promoted enterprises′ total factor productivity by improving the technological innovation quality and market matching efficiency, as well as reducing the operation and management costs. Heterogeneity analysis showed that digital technology application has a stronger productivity improvement effect on service than manufacturing enterprises, and it also has a more obvious promotion effect on industries with high market competition. Digital technology application increased the demand for highly skilled and educated workers, and human capital structure optimization will strengthen the productivity improving effect of digital technology application. This paper will help to deepen the understanding of the realistic path of enterprises to break through the new "Solow paradox", and it will provide some empirical evidence and practical basis for the integration and application of digital technology to improve the quality and efficiency, and to empower enterprises′ high-quality development. The main marginal contributions of this paper are as follows: (1) Based on the perspective of convergence application of digital technology, this study selected a large-volume and wide sample of A-share listed enterprises, and adopted textual analysis to accurately and comprehensively measure the actual digital technology application in the enterprise sector, and explored the impact effect of digital technology application on the enterprise′s total factor productivity. The research will not only compensate for the insufficiency of the macroscopic data, enrich and expand the related research on digital technology, but also provide micro-evidence that digital technology empowers the economic high-quality development. (2) This paper also provided some in-depth discussion of the internal mechanism of digital technology application affecting the enterprises′ total factor productivity, to a certain extent，which will open the "black box" of the productivity effect of digital technology application, utilize the multiplier effect of digital technology to enhance productivity, and crack the new "Solow paradox" in the digital era, thus providing a new path for digital technology development. (3) This paper found that highly skilled and educated human capital strengthens the productivity growth effect of digital technology application, indicating that the development of digital technology needs to be matched with the structure of senior human capital, which is an important policy revelation for the use of digital technology to realize the quality and efficiency of enterprises. References | Related Articles | Metrics

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Research on the impact of performance feedback on selection of digital strategies Feng Xiaobin, Zheng Hanzhong, Xiao Bowen, Zhang Jing 2024, 45(9): 43-54.  DOI: 10.19571/j.cnki.1000-2995.2024.09.005 Abstract ( 122 )      Due to the high-input and high-risk characteristics of digital transformation, enterprises are prone to fall into the dilemma of digital paradox. How to choose an appropriate digital strategy is a practical problem that needs to be solved urgently for enterprises. Based on the optimal distinctiveness theory and the behavioral theory of firms, this research explored the impact of performance feedback on selection of digital strategies, and further examined the moderating effect of formal and informal institutional pressures. This research selected Chinese A-share manufacturing listed companies as the research sample, and adopted the multi-dimensional fixed effect model and interaction effect model to test the research hypothesis. The empirical results showed that the social-desirability gap will have a negative impact on the digital exploitation strategy of enterprises, but a positive impact on the digital exploration strategy. Informal institutional pressure reinforces the negative impact of social-desirability gap on the digital exploitation strategy, while formal institutional pressure reinforces the positive impact of social expectation gap on the digital exploration strategy. This paper revealed the mechanism of selection of digital strategies, clarified the theoretical relationship between performance feedback and selection of digital strategies, and provided some management enlightenment for manufacturing companies to implement digital transformation. Related Articles | Metrics

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Research on the mechanisms and pathways of key technological systems supporting the development of new quality productivity: A case study of integrated circuits Yang Daohong, Xiong Bingqiao, Ren Taikun, Wu Xinyang, Chang Xinzhi, Wang Yiqun 2024, 45(9): 55-63.  DOI: 10.19571/j.cnki.1000-2995.2024.09.006 Abstract ( 113 )       The development of new quality productivity is an inherent requirement for promoting high-quality economic development, and key technological systems play a crucial role in empowering new quality productivity, yet existing literature lacks sufficient research on their micro-level mechanisms. Starting from the technological attributes of key technological systems, this paper clarified their standards and characteristics and revealed the black box of these systems to empower new quality productivity. Taking integrated circuits as an example, this paper further analyzed the mechanisms and pathways through which key technological systems support new quality productivity. The study found that key technological systems possess common technological attributes, quasi-public goods attributes, and key intermediate commodities attributes, and supports the development of new quality productivity through the mechanisms of “product-industry-ecology”. The pathways to advance the new productivity of the integrated circuit technology system include promoting the rapid development of related products through a multiplier amplification effect, leading the development of related industries, and enabling stakeholders related to technological innovation to achieve value co-creation. The research has explored the cultivation and development pathways of new quality productivity from a micro perspective of the key technological systems, and will provide specific insights and implementation guidance for policymakers and economic practitioners, aiming to advance high-quality economic development and achieve synchronous progress in economic growth and the innovation system. References | Related Articles | Metrics

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Research on the evolution of the innovation ecology of groups Wang Lin, Chen Zhijun, Sun Wei 2024, 45(9): 64-73.  DOI: 10.19571/j.cnki.1000-2995.2024.09.007 Abstract ( 93 )   Under the uncertain environment, excellent groups try to achieve sustainable development through innovation ecology optimization and upgrading. However, faced with the risks that may be brought by the dynamic environment, we have not yet found an effective solution to how to build a matching innovation ecology and maintain the dynamic balance of innovation ecology. This paper conducted an exploratory singlecase study on the innovation ecology evolution of parent company as designers of the innovation ecosystem, and refined the construction process and evolution logic model of the innovation ecosystem at different development stages. Our findings revealed that: The construction and evolution of the groups′ innovation ecosystem is influenced by the relationship tension caused by changes in the institutional environment and resource endowment. At different development stages, parent company constructs a matching innovation ecosystem by adopting various specific mechanisms to cope with the relationship tension between the parent company and its subsidiaries, and between the parent company and other subjects. Ecological niche change is the evolutionary logic of the group innovation ecosystem. At different stages, the parent company respectively promotes the continuous upgrading of the innovation ecosystem through the evolutionary logic of niche translation, niche translation and shift, and niche shift. The conclusions of the study will provide a reference for group companies to think about the development path based on the construction of the innovation ecosystem and enhance the resilience of the organizational structure to cope with uncertain environment. Related Articles | Metrics

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Research on the cooperative innovation path of enterprises empowered by digital information platform Ruan Hongpeng, Chi Renyong, Feng Yuanjing 2024, 45(9): 74-84.  DOI: 10.19571/j.cnki.1000-2995.2024.09.008 Abstract ( 124 )      In the digital economy, understanding how digital information platforms empower enterprise collaborative innovation is a critical problem to be solved urgently. This paper investigated 536 manufacturing enterprises in eastern China, by adhering to the research framework of "digital information platform -- inter-organizational trust -- enterprise cooperative innovation performance", and using the Structural Equation Modeling (SEM), and explored the mechanisms and pathways through which digital information platforms empower enterprise cooperative innovation. The findings indicated that the digital information platforms possess search and sanctioning capabilities, both of which can enhance the performance of enterprise collaborative innovation, with sanctioning capabilities having a greater effect on improving collaborative innovation performance. Furthermore, both computing trust and relationship trust between organizations mediate the relationship between the application capability of digital information platforms and cooperative innovation performance, although their effects differ. This paper will provide a comprehensive framework for understanding how digital information platforms empower enterprise innovation within innovation networks. By uncovering the mediating effects of inter-organizational trust, this study has demystified the micro-processes of enterprise cooperative innovation empowered by the digital information platforms, contributing to the theory of digital affordance and enriching theories of open innovation and inter-organizational trust within cooperative innovation networks. Additionally, it will offer some theoretical guidance for the construction of digital information platforms and the management of enterprise trust. References | Related Articles | Metrics

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The innovation capability formation mechanism of interdisciplinary scientific research teams: Seeking homogeneity or heterogeneity Duan Xuening, Chang Yu, Huang Wei 2024, 45(9): 85-92.  DOI: 10.19571/j.cnki.1000-2995.2024.09.009 Abstract ( 97 )      Interdisciplinary research team is an important organizational form to solve intricate scientific inquiries and cope with social challenges, and its innovation capability plays a driving role in developing basic scientific research and the initiation of original outcomes in China. The Institute of Advanced Materials Team (IAM), established in 1996 and based at Northwestern Polytechnical University, Nanjing Tech University and Nanjing University of Posts and Telecommunications, is a comprehensive and interdisciplinary frontiers research team within the domain of organic electronics and flexible electronics. Based on the cognitive schema theory, this paper drew on the exploratory single case study of IAM team, and found that: (1) the interdisciplinary research team integrates multi-disciplinary knowledge through creative learning mechanism to build a heterogeneous and ordered knowledge schema ("seeking heterogeneity"), reflecting the mechanism of reorganizing the knowledge structure and generating creative ideas of research team members; (2) through the adaptive learning mechanism, the interdisciplinary research team integrates the various values of members to construct a homogenous and harmonious belief schema ("seeking homogeneity"), which reflects the mechanism of mutual adaptation and the formation of a highly cohesive collective among research team members; and (3) the "seeking heterogeneity" of knowledge schema and "seeking homogeneity" of belief schema interacts with each other to build the innovation capability of the scientific research team. This paper proposed a mechanism model of "seeking homogeneity" and "seeking heterogeneity" in the formation of team innovation capability from the perspective of cognitive schema, which will enrich the theoretical research on the formation of team innovation capability, and provide practical insights into the basic research and technological breakthroughs of interdisciplinary scientific research team. References | Related Articles | Metrics

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Impacts of state capital injection on the quantity and quality of firm innovation Jiang Gongxiong, Yuan Peng, Yang Fandi 2024, 45(9): 93-103.  DOI: 10.19571/j.cnki.1000-2995.2024.09.010 Abstract ( 103 )   With the progress of a new round of state-owned enterprise (SOE) reform in recent years, many SOEs have introduced non-state capital to implement mixed-ownership reforms. At the same time, state capital has been injected into non-SOEs in various ways. In this context, some studies have examined the impact of state capital injection (SCI) on firm performance, such as total factor productivity, profit margins, and operating income. In addition, limited literature has examined the influence of SCI on firm innovation, especially from the perspective of innovation quality. On the one hand, SCI may help firms acquire the necessary resources for innovation. On the other hand, it could potentially reduce the innovation efficiency and innovativeness of a firm. Therefore, further theoretical analyses and empirical tests are needed to explore the impact of SCI on firm innovation. Consequently, we investigated the impact of SCI on the quantity and quality of firm innovation and the potential underlying mechanisms. This research has not only contributed to the literature on the economic implications of SCI but also provided some policy insights for the development of a mixed-ownership economy.By employing a staggered difference-in-differences research design and utilizing the data on A-share listed firms from 2011 to 2021, we found that SCI generally only facilitates an increase in the quantity of firm innovation without having a significant impact on the quality of firm innovation. However, when state capital becomes the relatively controlling shareholder, SCI increases not only the quantity but also the quality of firm innovation. Moreover, SCI has a more pronounced effect in promoting the quantity of innovation for firms with a lower initial level of innovation. The mechanism analysis suggests that the positive impact of SCI on firm innovation quantity is mainly due to the alleviation of financing constraints, the attraction of high talent, and the enhancement in the willingness of firms to innovate, rather than an increase in opportunities for joint research and development.The contributions we have made in this paper are threefold. First, we have extended the literature on the economic effects of SCI and mixed ownership reforms by examining the impact of SCI on firm innovation, particularly on innovation quality, and provided new empirical evidence on the controversy surrounding the relationship between state equity and firm innovation. Second, we found that SCI does not increase the quantity of firm innovation by affecting the ability of firms to engage in joint research and development but rather by alleviating financing constraints, attracting high talent, and increasing the willingness of firms to innovate. Thus, the mechanism of the impact of SCI on firm innovation is revealed. Finally, this study conducted a heterogeneous analysis from the perspective of the relative control of state capital and the initial innovation level of firms, which will deepen the understanding of the relationship between SCI and firm innovation, and provide some policy insights for the layout optimization and efficiency improvement of state capital.The conclusions of our study have practical implications. For policymakers, first, they should continue to push forward the reform of state equity investment companies, utilize the role of state equity as an incubator for industrial funds, and support firms in key and difficult areas of the national economy to achieve technological breakthroughs. Second, the share of state equity in enterprises that have accepted SCI can be appropriately increased or even made to be controlled by the state, if necessary. Third, equity investment by state capital should prioritize areas that are under-innovated due to a lack of innovative resources. Fourth, the quality of innovation should be included as a criterion for evaluating the performance of managers of SOEs and state capital, which provides incentives for firms to pay more attention to the quality of innovation. For managers, first, for firms lacking resources for innovation, state capital and its links with the government should be utilized to obtain the resources needed to carry out high-quality innovation activities. Second, after the implementation of SCI, firms with a lower level of innovation should proactively pursue collaboration with SOEs and government-affiliated universities and scientific research institutions to enhance their capacity and potential for conducting high-quality innovation. References | Related Articles | Metrics

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A study of the configuration paths for formation of new quality productivity in manufacturing enterprises Li Qingxue, Song Mengmeng, Liu Lina, Zhang Yue 2024, 45(9): 104-113.  DOI: 10.19571/j.cnki.1000-2995.2024.09.011 Abstract ( 155 )      The manufacturing industry, as a core material production department, is the foundation of the real economy and also a key carrier for the development of new-quality productive forces. Exploring the formation path of new quality productivity in manufacturing enterprises is not only a key practical problem, but also an urgent scientific problem. Based on the connotation of new-quality productive forces, this paper adopted the methods of necessary condition analysis (NCA) and fuzzy-set qualitative comparative analysis (fsQCA), taking 289 A-share manufacturing enterprises among the top 500 as examples, and discussed the configuration path of new quality productivity of manufacturing enterprises, which is formed by the interaction of conditions and factors under the three levels of technological revolutionary breakthrough, innovative allocation of production factors and deep industrial transformation and upgrading. The research findings are as follows: First, there are no necessary conditions for the formation of new-quality productive forces in manufacturing enterprises. Second, the formation paths of new-quality productive forces in manufacturing enterprises can be classified into four types: technology resource allocation-driven type, technology endowment synergy-driven type, digitalization-driven type, and industrial agglomeration development-driven type, among which the digital technology-oriented type is the most common. Third, combined with the non-high-level new-quality productive force configuration, institutional innovation, as a core condition, runs through the configuration results of high/non-high-level new-quality productive forces. Green technology innovation and institutional innovation are important reasons for the failure of manufacturing enterprises to form new-quality productive forces. The research conclusion will be conducive to understanding and deepening the complex mechanism of the formation path of new quality productivity in manufacturing enterprises, promoting the structural upgrading of manufacturing industry and providing internal driving force for high-quality development. Related Articles | Metrics

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A study on the formation path of organizational routines in spin-off start-ups initiated by parent enterprises Kong Haipu, Li Zhigang, Zhang Lu, Yu Cheng 2024, 45(9): 114-123.  DOI: 10.19571/j.cnki.1000-2995.2024.09.012 Abstract ( 58 )     The parent company′s proactive spin-off start-ups have an advantage in the inheritance of established routines. However, the specific methods and pathways through which its routines are formed remain unclear. With the help of entrepreneurial learning theory, this study conducted a double case comparative study on the organizational convention formation process of two different types of spin-off start-ups initiated by the parent, and summarized the organizational convention formation process model of spin-off start-ups from the perspective of entrepreneurial learning. The study found that: (1) The formation path of the organizational routines in parent-initiated spin-off start-ups includes two distinct routes: “exploring in conjunction with the parent company and then choosing to utilize” and “imitating the parent company and then adjusting through trial and error”. (2) The process of routine formation includes three stages, namely origination, development, and stabilization, and they correspond to the triggering context of the routine, formation of collective consensus, and establishment of organizational norms. (3) The routine formation process of parent-initiated spin-offs is also a process in which large, medium and small enterprises play their own advantages. The conclusions of this study will enhance the grasp of spin-off entrepreneurship′s unique dynamics and expand the research on organizational routines and entrepreneurial learning. They will also bear substantial theoretical and practical significance for the innovation-driven integration and growth of enterprises across scales, fostered by spin-off entrepreneurial initiatives. References | Related Articles | Metrics

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Research on the impacts of firms′ R&D collaboration on their entry into the technological factor market Zhang Chen, Sun Yutao, Zhang Xiaofei, Sun Mouxuan 2024, 45(9): 124-132.  DOI: 10.19571/j.cnki.1000-2995.2024.09.013 Abstract ( 68 )      Firms are the primary entities engaging in the technological factor market, serving as both technology buyers and sellers. Examining the entry mechanism of technological factor market can clarify its development trajectory, which has significant practical implications. This paper investigated how firms′ R&D collaboration affects the buying and selling of technology respectively by considering the trade-off between benefits and risks. Based on the framework, this paper examined the moderator effects of firms′ technological capability and knowledge overlap with partners. Using a sample of 1,707 autonomous driving firms, together with the panel data spanning from 2003 to 2017, this study reached the following new findings: first, firms′ R&D collaboration has an inverted U-shaped effect on technology buying, and has a positive effect on technology selling; second, when a firm has a high degree of knowledge overlap with its partners, the inverted U-shaped relationship between R&D collaboration and technology buying will become flattening, but knowledge overlap does not have a significant moderating effect on the relationship between firm′s R&D collaboration and technology selling; third, when a firm has superior technological capability, the inverted U-shaped relationship between R&D collaboration and technology buying will become steepening, while the positive effect of R&D collaboration on technology selling will be strengthen. This study will provide some practical implications for firms to enter technological factor market by depending on their R&D collaboration. Related Articles | Metrics

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Research on the impact of construction of G60 S&T innovation corridor on the dual innovation of enterprises in the Yangtze River Delta: A perspective of innovation chain Li Zibiao, Wang Siwei, Li Xin, Nie Jin 2024, 45(9): 133-142.  DOI: 10.19571/j.cnki.1000-2995.2024.09.014 Abstract ( 59 )       Regional S&T (S&T) innovation corridor serves as a crucial pathway for optimizing allocation of innovation elements and acts as a wellspring for driving technological innovation in enterprises. Based on the innovation chain perspective, this paper took the pilot G60 S&T innovation corridor in the Yangtze River Delta as a quasi-natural experiment and selected Chinese A-share listed companies from 2010-2021 as the research sample. We used the differences-in-differences model to explore the path and effect of the G60 S&T innovation corridor on the dual innovation of enterprises. The research results indicated that joining the G60 S&T innovation corridor significantly promotes both substantive and strategic innovation of enterprises, with a greater incentive effect on substantive innovation. The mechanism study revealed that construction of the S&T innovation corridor mainly enhances the innovation effect of enterprises through two channels: easing financing constraints and optimizing human capital. The heterogeneity analysis showed that the incentive effect of the G60 S&T innovation corridor on enterprises′ dual innovation is more prominent in small-scale enterprises, non-state-owned enterprises, and enterprises with high absorption capacity. This paper has not only provided some empirical guidance for China to steadily promote the construction of the S&T innovation corridor and the improvement of the supporting system of the innovation chain but also offered some practical references for guiding the independent innovation of Chinese enterprises. Related Articles | Metrics

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Research on the asymmetric influence of the super-deduction policy of R&D expenses on enterprise innovation Wang Haiyan, Yang Quancheng, Xi Yiheng 2024, 45(9): 143-154.  DOI: 10.19571/j.cnki.1000-2995.2024.09.015 Abstract ( 84 )       As an important incentive policy for enterprise innovation in China, the super-deduction of R&D expenses has been implemented for many years. Evaluating the effectiveness of the policy is of great significance in promoting construction of China into an innovation-oriented country. This study took the promulgation of Document Cai Shui 〔2015〕 No. 119 as a quasi-natural experiment. It empirically examined the effect of the super-deduction policy of R&D expenses on enterprise innovation, by taking A-share listed companies in Shanghai and Shenzhen from 2013 to 2017 as the research samples and innovation input, innovation output, and innovation efficiency as the analytical indexes, and using the PSM-DID method to explore whether the policy has effectively promoted enterprise technological innovation. This study found that: (1) the super-deduction policy of R&D expenses can significantly promote innovation input and innovation output of enterprises; (2) the super-deduction policy of R&D expenses can cause a reduction in the innovation efficiency of enterprises; (3) there is significant heterogeneity in the effects of the policy on regions with different enterprise sizes, different types of property rights, and different degrees of marketization. Combined with the research findings, the paper discussed whether the super-deduction policy of R&D expenses is effective in promoting enterprise technological innovation from the perspective of enterprises′ motivation to use subsidies, and whether it has provided recommendations for improving the policy in China. References | Related Articles | Metrics

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Research on the relationship between enterprise R&D investment and innovation capability under the complementarity effect Dong Wenting, Zhang Jingjia, Wang Weinan, Yan Zichun 2024, 45(9): 155-165.  DOI: 10.19571/j.cnki.1000-2995.2024.09.016 Abstract ( 115 )     In the context of digital economy, the black box between R&D investment and innovation capability has not yet been opened, and there is a closed-loop interaction between the two. This paper utilized the finite information great likelihood method to estimate the model for testing, constructed indicators with the text analysis method, and verified whether this relationship exists and how it operates through the data of listed companies during the period of 2011-2020. It was found that: (1) there is a closed-loop interaction between R&D investment and innovation capacity, and increased R&D investment is conducive to improving innovation capacity while improvement of innovation capacity will further increase R&D investment, and there is a "R&D-innovation" and "R&D-innovation-Re-R&D" effect. (2) Enterprises that take the lead in digital transformation have a first-mover advantage, while latecomers in digital transformation indirectly improve their innovation capability by optimizing their knowledge management capability. (3) Improvement of knowledge management and employee education is conducive to the realization of the second stage of innovation through closed-loop interaction, which is an important mechanism for the "R&D-innovation-Re-R&D" effect. Based on the digitalization scenario, this paper has opened the black box of virtuous circle interaction between R&D investment and innovation capability, and it will provide practical insights for enterprises to carry out digital transformation, introduce talents and expand the path of innovation capability improvement. References | Related Articles | Metrics

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A study of the impact and action mechanism of supervision through inspection on regional innovation Liu Zhui, Yu Qingquan 2024, 45(9): 166-174.  DOI: 10.19571/j.cnki.1000-2995.2024.09.017 Abstract ( 45 )       Regional innovation is not only affected by economic, social and natural factors, but also by government behavior and various institutions. In order to explore the impact and action mechanism of the supervision through inspection system on regional innovation, a multi-temporal double-difference model is constructed to test the 31 provincial-level regions in China from 2007 to 2020 selected as the research object, based on the quasi-natural experiment of inspection by the Central Commission for Discipline Inspection (CCDI). The study found that supervision through inspection has a significant promotion effect on regional innovation, and it also has a cross-period heterogeneity effect, but the long-term effect is better than the short-term effect, and the conclusion still holds after a series of robustness tests. The study on the action mechanism found that R&D investment has a masking effect between supervision through inspection and regional innovation, and that supervision through inspection reduces the quantity of R&D investment and improves the quality of R&D investment, and the quantity of R&D investment is increased. Moreover, through effective external supervision, the utilization efficiency of R&D investment is improved, thus promoting the improvement of the regional innovation level. The impact of supervision through inspection on regional innovation is regionally heterogeneous, and it is significant for the western region, but not significant for the central and eastern regions. The above conclusions have enriched the research system on the macroeconomic consequences of supervision through inspection and the factors influencing regional innovation, and they will provide reliable theoretical references and empirical evidence for strengthening the Communist Party of China (CPC)′s leadership and accelerating its entry into the forefront of innovative countries. References | Related Articles | Metrics

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Research on the impact of equity incentive plan on promoting innovation of state-owned enterprises Li Lianwei, Ji Xiaopeng, Lyu Zhuo, Guo Yuanyuan 2024, 45(9): 175-183.  DOI: 10.19571/j.cnki.1000-2995.2024.09.018 Abstract ( 89 )      Improving the innovation level of state-owned enterprises (SOEs) is an important micro foundation for implementing the strategy of innovation-driven development and promoting high quality economic development.  This paper uses a sample of A-share state-controlled listed companies for the period 2006-2021, and empirically examined the impact of equity incentive plan on the innovation activities of SOEs by using the year-by-year propensity score matching method and multi-period difference-in-difference model. The findings demonstrated that the adoption of the equity incentive plan considerably raises SOEs′ R&D expenditures, and that this effect is more notable in SOEs with low stock liquidity, high industry competitiveness, high degree of mixed ownership reform and in the mature stage. The mechanism test showed that the equity incentive plan mainly improves the R&D investment of SOEs by improving the quality of internal control and the level of risk-taking of executives, and overcoming the shortsighted tendency of executives. Further research revealed that the equity incentive plan mainly enhances the exploratory innovation investment rather than the exploitative innovation investment, and also improves the innovation efficiency and innovation output of SOEs, which reflects the innovation strategy of "raising quantity and quality together". This paper has enriched the research on the incentive mechanism of SOEs′ innovation from the perspective of equity incentives, and will provide some theoretical references and empirical evidence for the relevant departments to formulate a series of policy documents to promote the implementation of equity incentive plans in SOEs from the perspective of enterprise innovation. Related Articles | Metrics

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Research on the path selection of the operation mode innovation of ridesharing platforms Lu Jintao, Guo Yazhen, Lin Wenfang 2024, 45(9): 184-192.  DOI: 10.19571/j.cnki.1000-2995.2024.09.019 Abstract ( 84 )      Operation mode innovation is critical for ridesharing platforms to effectively conquer practical challenges, such as privacy leaks, lack of corporate social responsibility, and insufficient profitability, so as to achieve sustainable innovation and development. However, previous studies cannot provide sufficient scientific theoretical basis and systematic solutions for choosing the optimal path of the operation mode innovation of ridesharing platforms. Comprehensively using the grounded theory, grey relational analysis method, and the NK model, this study analyzed the components of the operation mode as well as the evolutionary stages and optimal paths of operation mode innovation of ridesharing platforms. The findings of this study are as follows: (1) the components of the ridesharing platform′s operation mode encompass marketing strategy, core resources, partner networks, customer relationship, key business, science and technology for social good, ESG development concept, and profit model; (2) the operation mode innovation of ridesharing platforms has experienced four evolutionary stages: resource-led innovation, task-pioneering innovation, technology-driven innovation, and responsibility-oriented innovation; and (3) based on the innovation of core resources, the optimal innovation path is to integrate with the critical business innovation of the platform and then consider "science and technology for social good" innovations, thus ultimately realizing the innovation of the ESG development concepts. This study will provide some theoretical guidance for the ridesharing platform enterprises to optimize the operation mode innovation path and offer practical insights into promoting multiple-subject collaborative innovation simultaneously. References | Related Articles | Metrics