The Impact of Central-Local Cooperation on the Innovation Quality of Local State-Owned Enterprises
Based on the difference in characteristics of central SOEs and local SOEs,this study takes A-share listed local SOEs in Shanghai and Shenzhen from 2008 to 2020 as research samples to in-vestigate the equity integration mode in"central-local cooperation",that is,the effect and mechanism of central state-owned shareholders'equity participation on the innovation quality of local SOEs.The study finds that the shareholding of central state-owned shareholders improves the innovation quality of local state-owned enterprises by"increasing innovation resources"and"reducing innovation crow-ding out",and the pressure of local economic assessment and the dependence degree of local state-owned enterprises positively moderate this process.
central-local cooperationpolitical hierarchyintegration of equityquality of innovation
NETL
NSTL
万方数据
