The Impact of Mixed-Ownership Reform on the Sustained Innovation of State-Owned Enterprises and Its Mechanisms
Using data from A-share listed state-owned enterprises in the manufacturing sector from 2007 to 2021,the study explores the impact and mechanisms of mixed-ownership reform(MOR)on the sustained innovation of state-owned enterprises(SOEs).The findings indicate that MOR significantly promotes sustained innovation in SOEs through two main mechanisms:equity checks and balances,and senior management governance.Digital transformation and innovation subsidies also play a mediating role in enhancing sustained innovation during the MOR process.The impact of MOR on sustained innovation is stronger in regions with high levels of development,high-tech industries,and enterprises with non-state shareholders.These findings deepen the understanding of the mechanisms through which MOR influences sustained innovation in SOEs and provide valuable insights for further advancing the quality and efficiency of SOE reform.
万方数据
维普
