Classification Reform,Government Decentralization,and Innovation Inputs of State-Owned Enterprises
In advancing the reform of state-owned enterprises,classification reform is vital for enhancing their operational vi-tality.Improving the innovation level of state-owned enterprises through this reform is also a crucial aspect.This paper ana-lyzes the existing problems in the classification reform of state-owned enterprises and proposes corresponding solutions.It aims to investigate whether implementing classification reform can stimulate innovation investments in state-owned enter-prises and identify the associated influence channels.These inquiries are of significant practical importance.The paper ad-dresses these questions,expands the research scope on classification reform and innovation in state-owned enterprises,and offers insights into how classification reform can better facilitate the high-quality development of state-owned enterprises.This paper focuses on China's A-share state-owned listed companies from 2013 to 2021,mainly commercial state-owned listed companies directly influenced by classification reform.These companies are categorized into specific function and competition categories to investigate the impact of reform on their innovation investments.The findings indicate that(1)classification reform has stimulated innovation investments in commercial SOEs,with a more pronounced effect on those with competitive functions.(2)Mechanism testing reveals that classification reform enhances the market orientation of competi-tive SOEs'governance,fostering innovation investments through equity and high-level governance channels.(3)Further analysis demonstrates that in regions with higher marketization or industries with more intense competition,classification re-form exerts a more substantial influence on the innovation investments of competitive SOEs.This suggests that as marketiza-tion and competition intensify,the government is more inclined to delegate power to SOEs,thus bolstering the effective imple-mentation of classification reform.This study offers several potential contributions.Firstly,it extends research on the impact of government decentraliza-tion on the innovation investment of state-owned enterprises from the perspective of classification reform rather than the tradi-tional focus on the pyramid hierarchy of state-owned enterprises.Secondly,it examines the function and value of classifica-tion reform about the innovation input of state-owned enterprises and identifies shortcomings in the current reform.While pre-vious studies have primarily focused on theoretical analysis,this paper offers empirical evidence of the value of classification reform through empirical testing.Finally,it demonstrates the internal connection between classification reform and govern-ment decentralization,providing a direction for further understanding to the significance of classification reform.Specifically,the paper highlights that the effectiveness of state-owned enterprises'reform lies in the degree of government decentraliza-tion,emphasizing the need to deepen the reform and clarify the functional positioning and decentralization arrangement of dif-ferent types of state-owned enterprises to promote their functional value.
NETL
NSTL
万方数据
维普
