摘要
以A股上市公司2006—2016年数据为样本,研究企业集团及其多元化对企业创新活动的作用。结果显示,企业集团相比独立公司具有更强的创新能力,而集团多元化则能通过分散成员企业财务风险和共享集团内部的知识溢出进一步提升成员企业的创新能力;企业集团及其多元化对创新的影响均存在着所有制差异,尽管民营企业集团的创新能力不及国有企业集团,但其能通过多元化提升成员企业的创新能力,而显著强于国有企业集团多元化的相应效果。
Based on the data of A-share listed companies from 2006 to 2016,this paper studies the role of enterprise groups and diversification in enterprise innovation activities.The results show that:firstly,business groups have stronger innovation ability than independent companies,while group diversification can further enhance the innovation ability of member enterprises by dispersing financial risks of member enterprises and sharing knowledge spillovers within the group;secondly,there are ownership differences in the impact of business group and their diversification on innovation;although innovation ability of private business group is inferior to that of the state-owned business group,but it can improve the innovation ability of the member enterprises through diversification,which is significantly stronger than the corresponding effect of the diversification of the state-owned enterprise group.
作者
邢斐
姚俊丽
Xing Fei;Yao Junli(Huazhong University of Science and Technology,Wuhan 430074,China)
出处
《科技管理研究》
CSSCI
北大核心
2020年第17期154-162,共9页
Science and Technology Management Research
基金
国家自然科学基金面上项目“企业集团、产业政策与企业技术创新”(71874061)。
关键词
企业集团
多元化
企业创新
Heckman两步法
business group
diversification
enterprise innovation
Heckman two-step method
