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Non‐state shareholder governance and technological innovations of state‐owned enterprises: The moderating effect of executive compensation incentives

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  • Zhenqing Liu
  • Linjie Li
  • Zhibin Zhang

Abstract

This study focuses on the impact mechanism of non‐state shareholder governance on technological innovation in state‐owned enterprises (SOEs) from the perspective of executive compensation incentives, using listed manufacturing companies of SOEs from 2014 to 2020 as research samples. The research findings indicate that the mere ownership of shares by non‐state shareholders has no significant impact on technological innovation. However, the delegation of executives by non‐state shareholders contributes to enhancing technological innovation in SOEs. So Improving technological innovation in SOEs is a crucial objective in the ongoing deepening and enhancing actions of the new round of state‐owned enterprise reforms.

Suggested Citation

  • Zhenqing Liu & Linjie Li & Zhibin Zhang, 2024. "Non‐state shareholder governance and technological innovations of state‐owned enterprises: The moderating effect of executive compensation incentives," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 45(6), pages 3886-3896, September.
    • Handle: RePEc:wly:mgtdec:v:45:y:2024:i:6:p:3886-3896
    DOI: 10.1002/mde.4227
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    References listed on IDEAS

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    Cited by:

    1. Zebiao Li & Weihao Wang & Xiaohui Xu & Jun Yang, 2025. "Mixed-Ownership Reform and Firm Productivity: New Evidence from Machine Learning," SAGE Open, , vol. 15(3), pages 21582440251, September.
    2. Liu, Xiangqiang & Peng, Yuling & Li, Qinyang & Wu, Chu-Hua, 2025. "CEO pay structure and ESG rating disagreement," International Review of Financial Analysis, Elsevier, vol. 102(C).
    3. Guangqian Ren & Man Jing & Li Liu, 2025. "The Impact of State‐Owned Assets Supervision System Reform on the Performance of State‐Owned Enterprises: Evidence From the ‘Two Types of Companies’ Pilot Policy in China," Asian-Pacific Economic Literature, The Crawford School, The Australian National University, vol. 39(2), pages 61-73, November.

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