自利抑或协同:非国有股权参与如何影响国有企业绿色技术创新  

Self-interest or Synergy:How Non-state-owned Equity Participation Impacts Green Technological Innovation in State-owned Enterprises

作　　者：赵鑫[1] 杨棉之 曹迅 Zhao Xin;Yang Mianzhi;Cao Xun(School of Economics and Management, China University of Petroleum, Beijing 102249, China)

机构地区：[1]中国石油大学(北京)经济管理学院,北京102249

出　　处：《科技进步与对策》2022年第5期94-104,共11页Science & Technology Progress and Policy

基　　金：国家社会科学基金项目(19BJY018);国家自然科学基金面上项目(71472002)。

摘　　要：基于外部性理论与制度理论,以2013-2019年A股国有上市公司为研究样本,利用面板Tobit模型考察非国有股权参与对国有企业绿色技术创新的影响。结果发现,非国有股权参与显著促进国有企业绿色技术创新,股权融合程度越高,绿色技术创新水平越高,外资股东参与有利于国有企业绿色技术创新,但机构投资者未表现出明显作用;分层分类检验结果表明,非国有股权参与更有利于中央国有企业、公益类国有企业绿色技术创新。外部治理环境调节效应检验结果表明,环保补贴可以增强非国有股权的环境研发激励作用,分析师关注有利于抑制私有股权短视化自利行为,二者均正向调节非国有股权参与对国有企业绿色技术创新的促进作用。As China's economic development enters a new normal,the new concept of innovative,coordinated,green,open and shared development is becoming increasingly deeply rooted in the public.Green technological innovation is an important support for building an ecological civilization,and it is conducive to realizing the coordination and unity of sustainable development and environmental protection.Enterprises are the main body of green technological innovation,while state-owned enterprises are the most important part of the socialist economy with Chinese characteristics.Improving the green innovation level of state-owned enterprises is of great significance to promoting high-quality economic and social development.At present,Chinese state-owned enterprises are in the stage of deepening mixed-ownership reform and exploring high-quality development.The existing literature mainly focuses on the economic benefit performance of state-owned enterprises after the mixed-ownership reform,while the influence mechanism of non-state-owned equity participation on the green technological innovation of state-owned enterprises is rarely studied.External theory believes that the environmental spillover and knowledge spillover of green technological innovation will reduce the enthusiasm of enterprises for green innovation.In the background of mixed ownership,after the non-state-owned capital with significant profit-seeking attributes enters the state-owned enterprises,how to affect the green innovation level of enterprises and drive the sustainable development of state-owned enterprises has become an important problem to be solved urgently.In addition,the institutional theory shows that the external governance environment has a significant impact on the green innovation activities of enterprises,but the role of the institutional environment in the background of mixed ownership remains to be discussed.To sum up,this paper attempts to study the following issues.How does non-state-owned equity participation affect the green technological inno

关 键 词：混合所有制改革 非国有股权参与 绿色技术创新 环保补贴 分析师关注 

分 类 号：F276.1[经济管理—企业管理]