Abstract：Based on the difference in characteristics of central SOEs and local SOEs, this study takes A-share listed local SOEs in Shanghai and Shenzhen from 2008 to 2020 as research samples to investigate the equity integration mode in “central-local cooperation”, that is, the effect and mechanism of central state-owned shareholders’ equity participation on the innovation quality of local SOEs. The study finds that the shareholding of central state-owned shareholders improves the innovation quality of local state-owned enterprises by “increasing innovation resources” and “reducing innovation crowding out”, and the pressure of local economic assessment and the dependence degree of local state-owned enterprises positively moderate this process.
柳学信，唐晓萌，孔晓旭，曹成梓. “央地合作”对地方国有企业创新质量的影响[J]. 管理学报, 2024, 21(9): 1345-.
LIU Xuexin，TANG Xiaomeng，KONG Xiaoxu，CAO Chengzi. The Impact of Central-Local Cooperation on the Innovation Quality of Local State-Owned Enterprises. Chinese Journal of Management, 2024, 21(9): 1345-.
