State ownership and corporate innovative efficiency

Xiaping Cao, Douglas Cumming and Sili Zhou

Emerging Markets Review, 2020, vol. 44, issue C

Abstract: In this paper, we investigate the innovative efficiency of SOEs in China. Innovative efficiency refers to output of patents per dollar spending of R&D expenditure. The data indicate that minority SOEs are substantially more innovatively efficient than non-SOEs and majority SOEs. The relative innovative efficiency of minority SOEs is more pronounced among firms with high financial constraints. The data are consistent with the view that, in the Chinese context, there are favorable benefits to partial state ownership through access to talent, connections, and technological resources that enable efficient patent outcomes from R&D expenditure.

Keywords: State ownership; Innovative efficiency; Financial constraints (search for similar items in EconPapers)
JEL-codes: G32 L33 O32 (search for similar items in EconPapers)
Date: 2020
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (38)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S1566014119305072
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:ememar:v:44:y:2020:i:c:s1566014119305072

DOI: 10.1016/j.ememar.2020.100699

Access Statistics for this article

Emerging Markets Review is currently edited by Jonathan A. Batten

More articles in Emerging Markets Review from Elsevier
Bibliographic data for series maintained by Catherine Liu ().