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

Rong Xu, Conggang Li, Cong Cao, Minghao Fang

    Research output: Journal PublicationArticlepeer-review

    3 Citations (Scopus)

    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.

    Original languageEnglish
    JournalAccounting and Finance
    DOIs
    Publication statusPublished - 5 Nov 2020

    Keywords

    • Corporate innovation
    • Innovation policy
    • Science–industry collaboration
    • Skill formation
    • Star scientists

    ASJC Scopus subject areas

    • Accounting
    • Finance
    • Economics, Econometrics and Finance (miscellaneous)

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