The 20th National Congress of the Communist Party of China emphasized the need to strengthen the deep integration of enter-prise-led industry-university-research(IUR)cooperation.Supporting enterprises in jointly promoting scientific and technological coopera-tion with research institutions,and utilizing market forces to lead the breakthroughs in key generic technology(KGT)research,has be-come an important issue to be urgently addressed.Based on the data of Shanghai and Shenzhen A-share main board equipment manufac-turing listed companies during 2011-2020,this paper examines the impact of enterprise-led IUR cooperation(in terms of breadth and depth)on KGT innovation,and the moderating effect of enterprises'structural power(including hierarchical authority,network central-ity and resource control).The results show that the breadth and depth of enterprise-led IUR cooperation have an inverted U-shaped im-pact on KGT innovation.Further examining the moderating role of structural power,it shows that enterprises'hierarchical authority and network centrality can weaken the negative impact of excessive broadening or deepening of enterprise-led IUR cooperation on the KGT innovation.However,enterprises'resource control will strengthen the inverted U-shaped impact of the breadth and depth of enterprise-led IUR cooperation on the KGT innovation.Based on the dominant-subordinate relationship between the subjects of IUR cooperation,this paper expands previous research on the technological innovation effect of IUR cooperation,introduces the structural power of enter-prises into the analysis framework of technological innovation effect of IUR cooperation,and also provides important inspirations for the practice of China's equipment manufacturing enterprises to break KGT innovation.
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