研发联盟与中国企业创新  

R&D alliances and Chinese corporate innovation

作　　者：徐欣[1] 郑国坚[2] 张腾涛 XU Xin;ZHENG Guo-jian;ZHANG Teng-tao(School of Accounting and Finance,Zhongnan University of Economics and Law,Wuhan 430073,China;Sun Yat-sen Business School,Sun Yat-sen University,Guangzhou 510275,China;Financial Management Department,Hangzhou Financial Investment Group Co.,Ltd.,Hangzhou 310016,China)

机构地区：[1]中南财经政法大学会计学院,武汉430073 [2]中山大学管理学院,广州510275 [3]杭州市金融投资集团有限公司财务管理部,杭州310016

出　　处：《管理科学学报》2019年第11期33-53,81,共22页Journal of Management Sciences in China

基　　金：国家自然科学基金资助项目(71790603;71872183;71402189).

摘　　要：在创新驱动发展战略指引下,近年来企业之间的研发联盟日趋增多.以研发联盟和创新活动都活跃的创业板公司为研究对象,分析了研发联盟对于技术创新的影响及其作用机理.运用“匹配法和双重差分法”研究发现,企业实施研发联盟对于创新具有显著的促进作用.在反映创新能力的多项指标方面,缔结研发联盟的企业都强于未缔结研发联盟的企业;无论是使用新增专利数量、新增发明专利数量、技术多元化还是创新突破性指标,都稳健地验证了研发联盟提升了企业创新能力.并且,研发联盟促进企业创新存在先递增后递减的滞后效应。进一步发现,研发联盟的治理结构对于企业创新具有调节效应.相对于股权式研发联盟,以契约形式缔结的研发联盟对企业创新的促进作用更大.对于深入认识中国企业缔结研发联盟的协同效应提供了理论基础和经验证据,并为政府和企业着力提升创新能力提供了决策依据和政策建议.Under the guidance of the national strategy of innovation-driven development,there have been a number of R&D alliances among Chinese companies in recent years.Taking as the research object the companies of the ChiNext market that are both active in R&D alliances and innovation activities,the paper analyzes the mechanism of R&D alliances and their impact on innovation.Our results,derived from propensity score matching method and difference-in-differences regressions,show that R&D alliances have a positive effect on technological innovations.Companies that have R&D alliances are better than companies that have not measured in different indicators that reflect innovation capability:The patent,the invention,technological diversification and innovative breakthroughs metrics all show a positive and robust effect of a R&D alliance on innovation capability.Moreover,R&D alliances have a lagging effect on technological innovation which increases first and then decreases with time.In addition,the governance structure of the R&D alliance has a moderating effect.Compared with joint ventures,non-joint ventures have a greater role in promoting innovation.This paper provides theoretical and empirical evidence for the synergies of R&D alliances in Chinese companies,as well as meaningful policy implications for the government and firms to enhance innovation capability.

关 键 词：研发联盟 专利 技术多元化 创新突破性 

分 类 号：F062.3[经济管理—政治经济学] F272.3