Performance Difference Between State-owned Enterprises And Non-state-owned Enterprises

The existing researches have different understanding of the performance difference from state-owned enterprises and non-state-owned enterprises.Part of the study suggests that the state-owned enterprises have natural resources comparative advantage over non-state-owned enterprises.And the government innovation subsidy policy may be biased towards state-owned enterprises.-Therefore it is a good soil for state-owned enterprise's research and developrment.Thus enterprise's performance can be significantly promoted.Compared with it,non-state-owned enterprises have no comparative advantages.Another part of the study suggests that non-state-owned enterprises have stronger driving force of getting higher performance,the principal-agent problem and the government catering is weaker.Most of Present studies hold the view that there is a performance difference between from state-owned enterprises and non-state-owned enterprises.Getting into the black box,which kind of firm activities lead to such a difference?According to paper analysis,this paper thinks that the firm activity is technology innovation input.Based on the data of China employer-employee survey,this paper conducts a large sample empirical study on the relationship between ownership type and enterprise performance,and the technology innovation input is included in order to discuss its intermediary role.First,as a dummy variable,ownership type is divided into state-owned enterprises and non-state-owned enterprises,and the market share is the proxy variable of enterprise performance.The first step is to discuss the relationship between ownership and enterprise performance by ordered probit method.The result is that the performance of state-owned enterprises was significantly lower than that of non-state-owned enterprises.The controlling variables are firm size,firm age,export or not,boss's education level,boss's age and innovation subsidy.Second,the technology innovation input is divided into three dimensions of R&D expenditure,material resources input and innovation human capital investment.This study respectively discusses the influence mechanism of such three dimensions to the relationship between ownership and enterprise performance.The proxy variable of R&D expenditure is the gross R&D expenditure from 2012 to 2015.The proxy variable of human capital investment is the percentage of R&D staff.The proxy variable of material resources input is a dummy variable of whether the firm set a R&D department.The research finds that R&D expenditure,human capital investment and material resources input are the mediating variables affecting the relationship between ownership and enterprise performance.Finally,this paper further analyzes why technological innovation input can explain the performance difference between state-owned enterprises and non-state-owned enterprises.First,the innovation subsidy has a strong bias towards state-owned enterprises.Second,the output efficiency of innovation human capital of state-owned enterprises is not high.Third,the R&D department of state-owned enterprises is more important than substance.Therefore,this paper puts forward some suggestions on how to improve enterprise?s technological innovation ability and enterprise performance from the government policy level.First,make differentiated innovation promotion policies.Second,give full play to the advantages of state-owned enterprises in innovation resources.Third,we should enhance the innovation momentum of private enterprises.