Balancing Innovation and Efficiency: The Impact of Mixed Ownership Reform on Total Factor Productivity in Monopolized and Competitive Industries

Gong Zhang, Shi Chen and Hongduo Yan ()
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Gong Zhang: Jilin University of Finance and Economics
Shi Chen: Northeast Forestry University
Hongduo Yan: Party School of CPC Changchun Municipal Committee

Journal of the Knowledge Economy, 2024, vol. 15, issue 4, No 125, 18952-18986

Abstract: Abstract This paper examines the transformative impact of mixed ownership reform on total factor productivity (TFP) across monopolized and competitive industries. Utilizing a robust double-difference and moderating effect model, the study dissects the diverse effects of these reforms, initiated by key global events such as British Telecom’s 1984 stock offering and Japan’s Nippon Telegraph public offerings in 1987. The paper offers a unique perspective on China’s 2013 mixed ownership reform, evaluating its extensive impact on corporate efficiency in various industrial sectors. Our findings highlight a notable enhancement in TFP, especially within monopolized sectors characterized by regulatory burdens and managerial inefficiencies. The study illuminates the nuanced roles of innovation and social responsibility in these dynamics, showing that monopolized industries respond more strongly to these factors than their competitive counterparts. The empirical analysis, grounded in data from 2008 to 2019, reveals that mixed ownership reform fosters innovation and enforces social responsibility, leading to improved productivity, particularly in monopolized industries. The paper contributes to the theoretical understanding of mixed ownership reforms, challenging one-size-fits-all notions and emphasizing the need for industry-specific approaches. It also underscores the complex interplay between social responsibility, innovation, and the effectiveness of these reforms. For policymakers and industry leaders, this study offers valuable insights for tailoring mixed ownership reforms, highlighting the potential of such initiatives to promote sustainable development and enhance overall economic welfare.

Keywords: Mixed Ownership Reform; Efficiency; Total Factor Productivity; Monopolized Industries; Innovation; Social Responsibility (search for similar items in EconPapers)
Date: 2024
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DOI: 10.1007/s13132-024-01887-z

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