Incubator Empowerment Mechanism of Resolving the Cost Pressures on SMEs'Use of Innovation Policies:A Case Study from the Perspective of Institutional Transaction Costs
From the perspective of institutional transaction costs,this study takes an incubator named Eastern Valley U in Yichang,Hubei Province as a case study to analyze the cost pressure faced by SMEs in the process of using government innovation policies,and reveals the enabling mechanism of incubators to help SMEs resolve the cost pressure.This study finds that:innovation policies im-pose institutional requirements on SMEs,including policy standardization requirements and policy procedural requirements.The former is derived from the policy appeal of government innovation poli-cies,while the latter is derived from the requirements of policy implementation process and measures to prevent opportunism.SMEs attempting to use government innovation policies need to make stand-ardization input and procedural input to meet institutional requirements,thereby incurring standardi-zation institutional transaction costs and procedural institutional transaction costs.The incubator's"information-resource-business"enabling mechanism assists incubated enterprises to relieve institu-tional transaction cost pressure from three aspects:sharing cost pressure,improving investment effi-ciency and improving the success rate of application,so as to enhance the willingness of incubated en-terprises to use innovation policies to carry out innovation behaviors.
government innovation policyinstitutional transaction costsincubator enabling mechanismSMEs'innovationcase study
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