Sponsored by Institute of Industrial Economics of CASS
ISSN 1006-480X CN 11-3536/F
12 issues per year
Discipline(s): Economics & Finance
Current Issue: Issue 01, 2019
China Industrial Economics is supervised by Chinese Academy of Social Sciences, and sponsored by Institute of Industrial Economics, Chinese Academy of Social Sciences. It aims to report researches on industrial economics and business management, and to reflect outstanding research results on Chinese industrial economy and enterprise development. The scope covers national economy, industrial economy and business management. The journal is included in CSSCI, and is the top journal in the field of industrial economics in China.
Shi Dan, Li Haijian
Using hand-collected data of A-shared listed companies from 2003 to 2015, this paper examines the impact of business groups on corporate patents and its mechanism. The result shows that business groups are positively associated with corporate patents, especially for invention patents. We conduct instrument variable analysis based on provincial-level reforms on “promotion policies for business group” since the establishment of the SASAC in 2003 and confirm the findings. Further analysis indicates that in view of the supply side, two potential mechanisms, internal capital market and internal knowledge market, yield the positive relation we document. In view of the demand side, innovation outputs within business groups have higher market returns because of the flexibility of allocation and usage of patents among different members. Our paper not only contributes to the literature on firm organization and innovation output, but also throws light on promoting the adjustment of the strategic layout of the state economy and supporting innovation-driven development.