Abstract：This study explores the effect and mechanism of the non-controlling shareholders network location on enterprise innovation based on the data of A-share listing firms in Shanghai and Shenzhen from 2007 to 2020. The results show that the non-controlling shareholders network location can effectively promote enterprise innovation. To be specific, the results of the mechanism test show that the non-controlling shareholders network location promotes corporate innovation mainly by improving the internal financing ability, improving the human capital structure and reducing the double agency cost of enterprises, that is, the network location of non-controlling shareholders can exert the resource effect and supervision effect to promote enterprise innovation. Further analysis shows that the promotion effect of non-controlling shareholders network location on enterprise innovation is mainly reflected in non-state-owned enterprises, enterprises in areas with strong Confucian traditional culture and enterprises audited by the non-Big Four.
杨忠海，修雪，李瑛玫. 非控股股东网络位置对企业创新的影响研究[J]. 管理学报, 2025, 22(1): 85-.
YANG Zhonghai，XIU Xue，LI Yingmei. Research on the Impact of Non-Controlling Shareholders Network Location on Enterprise Innovation. Chinese Journal of Management, 2025, 22(1): 85-.
