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| Ownership Types, Contextual Moderation and Innovation Efficiency |
| HAO Bing,CHEN Yan,ZHAI Ruirui |
| 1.Beijing Institute of Petrochemical Technology, Beijing, China;
2.Beijing University of Posts and Telecommunications， Beijing, China |
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Abstract By using a balanced panel dataset of 44 126 firms from the Chinese manufacturing industry for the period of 2004~2008, and integrating Principalagent Theory, Institutional Theory and Resourcebased Theory, we analyzed the impact of ownership types on enterprise innovation efficiency, and further analyzed the moderating effects of industry and regional heterogeneity on different ownership enterprise’s innovation efficiency. The empirical findings suggest that: ① the stateowned enterprise innovation efficiency is lower than nonstateowned enterprises;②the industry concentration on enterprise innovation efficiency is negative, but has a positive moderating effect on the relationship between ownership types and innovation efficiency; Technical opportunity promotes enterprise innovation efficiency, but weakens the relationship between ownership types and innovation efficiency; the impact of entry barriers to the enterprise innovation efficiency is negative，but strengthens the relationship between ownership types and innovation efficiency; The higher the degree of marketization is, both stateowned enterprises and nonstateowned ones’ innovation ability are stronger. The empirical findings can contribute to building the balance innovationoriented mechanism between stateowned enterprises and nonstateowned enterprises and adding up the theoretical content of Chinese enterprise ownership type.
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Received: 05 June 2014
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2015, Vol. 12 
