"Similar To State Owned Enterprises", Product Market Competition And Private Enterprise Innovation Efficiency

Through the analysis of the current situation of our country and the reading and combing of the literature at present,this paper defines the mode of operation and development of the private enterprises in the way of factor resource acquisition and product market competition,which is defined as the "state-owned enterprise" orientation of private enterprises And discusses the relationship between the "state-owned enterprises" and the competition of the micro-enterprises and the products in the market by discussing the innovation efficiency loss of the "state-owned enterprises".Based on the above considerations,this paper mainly studies the following three questions:(1)whether the orientation of "state-owned enterprises" in private enterprises is prevalent,and if so,what kind of path is formed by private enterprise "state-owned enterprises".(2)the "rational choice" of private enterprises in China’s market-oriented reform continues to deepen and increasingly highlight the essence of its legal system in the context of the characteristics of the enterprise will have the impact of innovation efficiency? This paper tries to clarify the mechanism behind the role of "state-owned enterprises" in the innovation activities of enterprises,so as to provide empirical evidence for the government to formulate enterprise policies in the future.(3)the government intervention as a system of influencing the "state-owned enterprises" orientation of private enterprises,and whether the results of the "state-owned enterprises" and the innovation efficiency of enterprises are more significant when the government intervention is serious.The article selected the sample of Shanghai and Shenzhen A-share listed companies from 2007 to 2015,excluding the financial industry,ST and PT listed companies data,while the issuance of B shares or H shares of the company,the data missing enterprises,and ultimately get 9216 sample observations.It is proved that the orientation of "state-owned enterprises" in many private enterprises will lead to the loss of innovation efficiency of private enterprises and the intermediary effect of adjustment through product market competition,which will result in a greater degree of innovation and efficiency loss.Further research found that in the areas where government intervention is serious,the "state-owned enterprise" orientation of private enterprises is more significant than the result of product market competition.The above findings provide inspiration for China’s state-owned enterprise reform and its governance,and also provide the risk warning significance for the management of "state-owned enterprises" and the innovation efficiency of many Chinese private enterprises.