曾春华,林仪凤. 共同机构所有权与企业创新：协同治理与信息共享视角[J]. 科技进步与对策, 2022, 39(13): 21-31.
Zeng Chunhua,Lin Yifeng. Common Institutional Ownership and Enterprise Innovation:from the Perspective of Collaborative Governance and Information Sharing. SCIENCE & TECHNOLOGY PROGRESS AND POLICY, 2022, 39(13): 21-31.
[1] PORTER M E.Capital disadvantage: America's failing capital investment system[J].Harvard business review, 1992, 70(5): 65-82.[2] HOLMSTROM B.Agency costs and innovation[J].Journal of Economic Behavior & Organization, 1989, 12(3): 305-327.[3] HEJAZI W, SAFARIAN A E.Trade, foreign direct investment, and R&D spillovers[J].Journal of International Business Studies, 1999, 30(3): 491-511.[4] 黎文靖, 郑曼妮.实质性创新还是策略性创新——宏观产业政策对微观企业创新的影响[J].经济研究, 2016, 51(4): 60-73.[5] 权小锋, 尹洪英.中国式卖空机制与公司创新——基于融资融券分步扩容的自然实验[J].管理世界, 2017，33(1): 128-144,187-188.[6] 郭玥.政府创新补助的信号传递机制与企业创新[J].中国工业经济, 2018,35(9): 98-116.[7] 吴超鹏, 唐菂.知识产权保护执法力度、技术创新与企业绩效——来自中国上市公司的证据[J].经济研究, 2016, 51(11): 125-139.[8] 李汇东, 唐跃军, 左晶晶.用自己的钱还是用别人的钱创新——基于中国上市公司融资结构与公司创新的研究[J].金融研究, 2013 ，56(2): 170-183.[9] 张璇, 刘贝贝, 汪婷, 等.信贷寻租、融资约束与企业创新[J].经济研究, 2017, 52(5): 161-174.[10] 朱德胜, 周晓珮.股权制衡、高管持股与企业创新效率[J].南开管理评论, 2016, 19(3): 136-144.[11] JIANG X, YUAN Q.Institutional investors' corporate site visits and corporate innovation[J].Journal of Corporate Finance, 2018, 48: 148-168.[12] 韦施威, 杜金岷, 吴文洋.机构投资者如何影响企业创新——兼论机构投资者与企业异质性[J].科技进步与对策, 2022, 39(1): 30-38.[13] HE J J, HUANG J.Product market competition in a world of cross-ownership: evidence from institutional blockholdings[J].The Review of Financial Studies, 2017, 30(8): 2674-2718.[14] CHEN Y, LI Q, NG J.Institutional cross-ownership and corporate financing of investment opportunities[R].Working Paper, 2018.[15] WANG P, BARRESE J.Institutional investors, common control, and risk: an investigation into motives and consequences[J].Review of Business, 2019, 39(1): 45-59.[16] HE J J, HUANG J, ZHAO S.Internalizing governance externalities: the role of institutional cross-ownership[J].Journal of Financial Economics, 2019, 134(2): 400-418.[17] HE J, LI L, YEUNG P E.Two tales of monitoring: effects of institutional cross-blockholding on accruals[EB/OL].(2020-02-15).https://ssrn.com/abstract=3152044.[18] BROOKS C, CHEN Z, ZENG Y.Institutional cross-ownership and corporate strategy: the case of mergers and acquisitions[J].Journal of Corporate Finance, 2018, 48:187-216.[19] GIBBON A J, SCHAIN J P.Rising markups, common ownership, and technological capacities[R].DICE Discussion Papers, 2020.[20] GAO K, SHEN H, GAO X, et al.The power of sharing: evidence from institutional investor cross-ownership and corporate innovation[J].International Review of Economics & Finance, 2019, 63:284-296.[21] AZAR J, SCHMALZ M C, TECU I.Anticompetitive effects of common ownership[J].The Journal of Finance, 2018, 73(4): 1513-1565.[22] ALCHIAN A A, DEMSETZ H.Production, information costs, and economic organization[J].The American Economic Review, 1972, 62(5): 777-795.[23] KOCH A, PANAYIDES M, THOMAS S.Common ownership and competition in product markets[J].Journal of Financial Economics, 2021, 139(1): 109-137.[24] EDMANS A, LEVIT D, REILLY D.Governance under common ownership[J].The Review of Financial Studies, 2019, 32(7): 2673-2719.[25] HALL B H.The financing of research and development[J].Oxford review of Economic Policy, 2002, 18(1): 35-51.[26] AZAR J, SCHMALZ M C.Common ownership of competitors raises antitrust concerns[J].Journal of European Competition Law & Practice, 2017, 8(5): 329-332.[27] LEAHY D, NEARY J P.Public policy towards R&D in oligopolistic industries[J].The American Economic Review, 1997: 642-662.[28] D'ASPREMONT C, JACQUEMIN A.Cooperative and noncooperative R & D in duopoly with spillovers[J].The American Economic Review, 1988, 78(5): 1133-1137.[29] DEVOS E, LI H.Vertical integration to mitigate internal capital market inefficiencies[J].Journal of Corporate Finance, 2021, 69: 101994.[30] 温忠麟.张雷, 侯杰泰, 等.中介效应检验程序及其应用[J].心理学报, 2004(5): 614-620.[31] AGHION P, BLOOM N, BLUNDELL R, et al.Competition and innovation: an inverted-U relationship[J].The Quarterly Journal of Economics, 2005, 120(2): 701-728.[32] HUTTON A P, MARCUS A J, TEHRANIAN H.Opaque financial reports, R2, and crash risk[J].Journal of financial Economics, 2009, 94(1): 67-86.[33] 杨兴全, 王丽丽, 杨征.机构投资者网络关系与企业创新：信息资源和信息治理[J].当代财经, 2021(11): 76-88.[34] 王小鲁, 樊纲, 胡李鹏.中国分省份市场化指数报告(2018) [M].北京: 社会科学文献出版社, 2019.[35] PERESS J.Product market competition, insider trading, and stock market efficiency[J].The Journal of Finance, 2010, 65(1): 1-43.
