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Does science–industry cooperation policy enhance corporate innovation: Evidence from Chinese listed firms

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  • Rong Xu
  • Conggang Li
  • Cong Cao
  • Minghao Fang

Abstract

We examine science–industry collaborations by identifying how academician workstations – joint platforms by listed firms and academicians under provincial governments – influence corporate innovation. We discover that academician workstations (i) significantly increase firms’ innovation input, quality and efficiency, even after controlling for endogeneity issues; (ii) primarily promote corporate innovation by attracting more talented human capital rather than through funding support; and (iii) are even more significant among state‐owned companies and large companies. These results indicate that government policies on bridging the gap between star scientists and firms could be an important non‐financial incentive to partially explain China’s rapidly growing capacity for innovation.

Suggested Citation

  • Rong Xu & Conggang Li & Cong Cao & Minghao Fang, 2021. "Does science–industry cooperation policy enhance corporate innovation: Evidence from Chinese listed firms," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 61(3), pages 3823-3853, September.
    • Handle: RePEc:bla:acctfi:v:61:y:2021:i:3:p:3823-3853
    DOI: 10.1111/acfi.12717
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    Cited by:

    1. Wang, Qian & Du, Zhuo-Ya, 2022. "Changing the impact of banking concentration on corporate innovation: The moderating effect of digital transformation," Technology in Society, Elsevier, vol. 71(C).
    2. Guanming He & Xiaorong Li & Jingbo Luo, 2023. "The impact of the Shanghai–Hong Kong stock market connection on corporate innovation: Evidence from mainland China," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 28(3), pages 3132-3161, July.

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