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Is Mixed Ownership Reform Conducive to Innovation of State-Owned Enterprises? Based on A Categorical Governance Perspective

发布者:XU Wei, WU Yue [发表时间]:2020-05-15 [来源]:济南大学学报(社会科学版)编辑部 [浏览次数]:

At the same time of introducing non-state-owned capital, how to build a reasonable ownership structure to encourage enterprises to obtain innovation competitiveness? This is the core issue that both state-owned enterprises and private enterprises are most concerned about. This paper takes the state-owned listed companies with mixed ownership reform in 2009-2018 as the research object, uses the power of the board of directors owned by non-state-owned shareholders as an alternative variable to play the governance effect, uses the method of propensity score matching analysis to test the logical relationship between mixed ownership reform and innovation efficiency, and further analyzes the effect of mixed reform of different functional state-owned enterprises from the perspective of Classified Governance of state-owned enterprises. The results show that: strengthening the mixed ownership reform of non-state-owned shareholders’ right to speak is conducive to promoting the innovation input and the output of exploratory innovation of state-owned enterprises. Secondly Compared with the specific functional enterprises, the reform of mixed ownership, that is, giving non-state-owned shareholders the right to speak, has a more significant impact on the innovation activities of general commercial state-owned enterprises.


【原文链接】徐伟:《混合所有制改革有利于促进国有企业创新吗?——基于分类治理视角》发表于《济南大学学报》(社会科学版)2020年第3期