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SCIENCE & TECHNOLOGY PROGRESS AND POLICY

	2022 Vol.39 Issue.16 Published 2022-08-25

	Innovation in Science and Technology Management Regional Scientific Development Enterprise Innovation Management Legal System and Policy of Science and Technology Sci-tech Talent Cultivation Science-based Industrial Innovation Column

Science-based Industrial Innovation Column

	1	Internal Corporate Governance of Science-based Firms: A Literature Review and Future Research Agenda
		Fang Shuai,Li Xinrong,Lei Jiasu
		Science-based firms refer to those firms which are engaged in science-based innovation, make or rely on scientific exploration and discovery and further commercialize scientific achievements. Over the past 20 years, the number of science-based firms which serve as a bridge for the transformation of basic scientific achievements, has increased, finally driving innovation. So far, research on science-based firms has made significant progress. However, in view of the particularity of science-based firms, the governance structure of such firms has become an urgent topic to be studied, especially their internal governance. Based on Web of Science core collection database, this paper searches the literature on science-based firms published on some important journals from 2000 to 2020 and collect some classical literature by Google Scholar.#br#Different from internal corporate governance literature on traditional firms, research on science-based firms should consider not only board governance, shareholder governance and executive governance, but also the role of entrepreneurs (the imprinting effect) and scientist team governance. According to the above logical framework,this paper is divided into several sections. The first section defines science-based firms and distinguishes them from similar concepts such as “technology-based (engineering) firms”, “university spin-off firms” and “high-tech firms”, so as to clarify the connotation of science-based firms. The second to third sections review the unique elements of internal governance (the entrepreneur role, the scientist team governance) in science-based firms. The fourth to sixth sections summarize the traditional elements of internal governance (board governance, shareholder governance and executive governance).#br#In the second section, the governance structure of a science-based firm depends on the stage of firm life cycle.In the early stage of start-up, the characteristics of entrepreneurs and the role they play canbring the imprinting effect, and then have an impact on the choice of governance structure and subsequent firm performance. Therefore, this section specifically reviews the literature on the role of entrepreneurs, including scientist entrepreneurs and surrogate entrepreneurs. #br#In the third section, the paper reviews the literature on team governance of scientists. The composition of team members is an important concern of the firm governance structure. In science-based firms, scientists occupy a high proportion of the team, comprising an important part of corporate governance. They undertakes the mission of transforming scientific knowledge from academia to the real economy. It plays a unique role in the internal corporate governance. This section discusses the knowledge contribution role and resource contribution role of the scientists team, and also introduces the limitations faced by them in governance.#br#In the fourth section, this paper reviews the board governance literature on science-based firms discusses the evolution of board functions and board structure. As the core of internal governance structure, the board of directors is not only the agent of shareholders, but also the principal and supervisor of managers. As the key node connecting shareholders and managers, the function and structure of the board of directors directly affect the board effectiveness and then the level of internal governance. Especially in science-based firms, the function and the composition of the board affect the strategic decision-making process, mechanism and outcomes of such firms. #br#In the fifth section, this paper reviews the literature on shareholder governance, discusses the ownership structure, the influencing factors of equity financing and the evolution mechanism. Ownership structure has the influence on the formation, operation and performance of internal governance mode. In science-based firms, the reasonable arrangement of equity structure between R&D teams with technological advantages and investment institutions with business knowledge advantages affects the internal governance effectiveness of such firms.#br#In the sixth section, this paper reviews the literature on executive governance and discusses how to select and motivate top executives. During the establishment and subsequent development of science-based firms, they often face internal and external challenges.For such firms, it is of great significance to build an effective top management team and enhance their motivation to provide resources, knowledge and skills. #br#Based on the above analysis, this paper proposes a future research agenda from the perspective of corporate governance, including how to allocate power, design incentive mechanisms, and implement staffing. The future research directions proposed in this paper can enrich and expand the theoretical framework of science-based firm governance research, and bring enlightenment for understanding and guiding scientific-based corporate governance practices in the Chinese context.#br#
		2022 Vol. 39 (16): 1-8 [Abstract] ( 312 ) [HTML 1KB] [ PDF 1247KB] ( 445 )

	9	Identification of Patent Collaboration Partners in A Science-based Industry
		Yang Xi,Liu Xin
		The development of science-based industry has become the focus of global science and technology as well as industrial competition. Science-based industry has the characteristics of open innovation. The innovation subject in the industry is committed to finding partners to make full use of external resources, so as to obtain patent collaboration opportunities and competitive advantages. For how to choose partners, domestic and foreign scholars mainly analyze the evaluation factors and research motivation of partners through qualitative research methods such as expert knowledge. Thus, the research results are greatly affected by subjective factors and lack certain objectivity. Patent information covers rich technical, legal and economic information. Patent information is an important information resource for innovation subjects to find partners and carry out innovation collaboration. However, there is a lack of in-depth research on science-based industrial innovation and development by using patent information, and the research on exploring patent partners in science-based industry from a predictive perspective is still blank. #br#　　Aiming at exploring patent collaboration opportunities and competitive advantages in science-based industry, this study introduces actor-network theory to the research field of science-based industry, employs patent technological portfolio and social network analysis, and proposes a new method of patent partner identification. Taking graphene, a typical science-based industry, as an example, this study proves the effectiveness of the method. After looking through related literature and consulting technical experts' advice, 67 835 graphene technology patents from 2011 to 2019were obtained downloaded from Derwent Innovation Index. This method combines the technology level with the patentee level from a predictive perspective, and deeply discusses the logical translation process of identification for potential domestic and foreign patent partners. The actor-network theory divides the translation of patent partners' identification into four processes: problematization, interessement, mobilization and enrollment. It also selects appropriate patent indicators to measure the process of interessement, mobilization and enrollment. The process of problematization aims to extract the research problems in line with the common interests of all actors according to the current situation of industrial innovation and development. This study focuses on how to find potential patent partners in science-based industries. In the process of interessement, starting from the common interests among actors, it looks for potential actors to join the network. Based on patent analysis the study identifies the technology hotspots and fronts in the science-based industry from the technology level which shows the common innovation opportunities of patentees in the industrial competition;it also verifies the patentees with competitive advantages in the science-based industry from the patentee level which indicates the potential important actors in the interactive network. The process of mobilization is designed to provide a strategy for connecting with other actors. This paper constructs the technology association network of the patentee in key technology fields, combines the technology level with the patentee level, and digs out technical focus among important patentees. Based on the common technical focus among patentees, this paper further constructs the strategy of identifying potential patent partners in the science-based industry. In the process of enrollment, this paper adopts the strategies in the mobilization process and forms an interactive network between actors. Based on the index of technical similarity, this paper constructs patent partner identification networks, identifies China's potential domestic and foreign patent partners, and explores patent collaboration opportunities and competitive advantages. #br#　　The results show that the most potential domestic patent partners in the field of graphene include Zhejiang University, Harbin Institute of Technology, Chengdu New Keli Chemical Technology Co., Ltd., Tsinghua University and Central South University; the most potential foreign patent partners in the field of graphene include Samsung Electronics Co., Ltd, LG Chem Ltd., Nanotek Instruments Inc, LEE Y T, Sungkyunkwan University, and Korea Advanced Institute of Science and Technology; the key technology areas with the most collaboration potential at home and abroad are E05-U05C(Nanofilm), L03-H05(Vehicles), L03-A02B(Nonmetal conductors-carbon and graphite), A08-S02(Solvents; swelling agents) and A10-E05B(Chemical modification by carbonization). #br#　　 The contributions of this paper are threefold. First this paper uses patent information to provide a useful supplement for the quantitative analysis of innovation and development in the science-based industries. Second it expands the existing theoretical system of science-based industry research by proposing a new methodology of patent partner identification. Lastly from the predictive perspective, this paper combines these two levels through patent technological portfolio and social network analysis, and identifies the potential domestic and foreign patent partners of the innovation subjects in China's graphene industry.#br#
		2022 Vol. 39 (16): 9-19 [Abstract] ( 224 ) [HTML 1KB] [ PDF 1999KB] ( 520 )

	20	The Configuration and Path of Factors Affecting the Development of Science-based Industries：A QCA Analysis Based on the Pharmaceutical Manufacturing Industry in 31 Provinces of Mainland China
		Lu Ruoyu,Zhang Likai,Chen Xuelin,Zhou Dongmei
		From the perspective of the knowledge source of industrial formation and development, the industries in economy can be divided into the science-based and the technology-based industries, the former depending more on scientific discoveries and new progress to innovate and develop, while the latter relying more on technological upgrading and substitution. Fields like artificial intelligence, biomedicine, quantum, new materials, complex electronic systems, etc. are new fields full of vitality and energy. They are in the stage of rapid growth and the development of relevant industries still needs continuous breakthroughs in theory and technology, especially in basic theory. science-based industries are the focus of global technologies and industrial competitions in the future, as well as the new engine and important force of national economic development. The development trend of such industries deeply determines the basic pattern of future global industries. #br#There are still gaps between some of China's scientific industries and the top developed countries, for example, the chip and biochemical fields are striving to overcome the bottleneck. The development of science-based industries, reinforcement of scientific research, breakthroughs in theories and technological innovations are the important points for China to make up for the weak links of industries and to cultivate future industries. They are also the key to the transformation and upgrading of the industrial structure, as well as the top priority for China to achieve the corner overtaking. However, current research focus more on the concepts and features of the science-based industries and the corresponding relationship between the science-based innovations and industries, while only few researches the development paths of the science-based industries. This paper probes into this relative blank field. #br#Directly promoted by scientific researches, the development of the pharmaceutical industry mainly relies on the new scientific discoveries and it is a science-based industry. This paper takes the pharmaceutical industry as a typical example of the science-based industries and the pharmaceutical industries in 31 provinces and cities of China as the research samples. Applying the method of fuzzy set Qualitative Comparative Analysis (fsQCA) to explore the amplifying effect of economic, scientific, technological and policy conditions on the development performance of scientific industries and its path choice,the study has the following findings. (1) Single condition does not constitute a sine qua non of the high performance of the pharmaceutical industry, but multiple preconditions synchronize and form the diversified configurations that actuate the high performance of the pharmaceutical industry. (2)There are three paths to actuate the high-level performance of the pharmaceutical industry, namely, the dual-dominated driving type by science and technology, the science and policy driven type under the economic-dominant logic, and the technology and policy driven type under the economic-dominant logic. (3) There are two paths leading to not-high performance of the pharmaceutical industry, and the core conditions of these two configurations are the same, and they refer to are non-economic level and non-scientific research. #br#The conclusion of this paper is conductive to deepening the rational understanding of the complex interaction nature among the multiple factors behind the development of the science industries in China, and bringing beneficial practical enlightenment for the growth of the scientific-based industries. Firstly, it's necessary to actively integrate resources and bring into play the synergy of economic, scientific, technological and policy elements. Secondly, it is reasonably and implement strategies precisely for key elements, i.e.regions should focus on key factors that can effectively promote the development of the science-based industries. And thirdly, it's vital to follow local conditions and circumstances when selecting development paths for the scientific industries. #br#This paper shifts the research angle on the theme of the development of the science-based industries from the habitual single perspective to a holistic perspective of a combination of multiple conditions. Specifically, from the perspective of conditional configuration, this paper analyzes the concurrent and synergistic effects of economy, science, technology and policy in promoting the performance of the pharmaceutical industry, explains the causal complexity behind the development of the pharmaceutical industry, and provides theoretical reference for a more granular understanding of the growth phenomenon of the industries based on science. However, the pharmaceutical industry is only one of the numerous science-based industries. In the future, more scientific industries can be studied to form a deeper analysis of the development path of science-based industries. What's more, although this paper has incorporated important factors such as economy, science, technology and policy into the framework, it has not covered all possible influencing factors. Future researchers can choose a new analytical perspective or include more influencing factors to supplement and enrich the research conclusions of this paper and deepen the understanding of the path of the development of the science-based industries.#br#
		2022 Vol. 39 (16): 20-28 [Abstract] ( 217 ) [HTML 1KB] [ PDF 1240KB] ( 471 )

	29	The Failure Rescue of Science-based Innovation:from the Perspective of Exaptation
		Ma Jia,Li Tianzhu
		Science-based innovation has become the key for China to break the technology blockade from aboard, accomplish the catching-up and achieve the leapfrogging development. science-based innovation is characterized by the huge uncertainty and failure rate. The failure rescue of science-based innovation can reduce the waste of innovation resources, and improve the innovation performance in science-based industries, which has considerable economic value and social significance. Based on the long-term observation and follow-up studies, it has been found that the failure of science-based innovation is mainly related to the failure of a specific product or innovation project, and it is not equivalent to the failure of the scientific discovery of this product or innovation project. In reality, there are a large number of innovation projects that initially failed, and they are reborn because the new transformation directions and application fields for the scientific discovery have been refound. In these cases, the exaptation is an important theoretical perspective that needs to attract great attentions in failure rescue of science-based innovation.#br#The main feature of exaptation is the discovery of certain unexpected functions, which has important enlightening significance and guiding value for the failure rescue of science-based innovation. Before science-based innovation is launched, the rational decision-makers have already conducted the greatest possible analysis of factors related to the success of the innovation, such as the characteristics of scientific discoveries, the market demand, the competitive technologies, and the supporting environments etc. They strive to find a convergence point between the uniqueness of science-based technology and the scarcity of the market. If science-based innovation still fails after such rational analysis, a new application direction ought to be found in a new application field to obtain the failure rescue opportunities by the functional transformation, unexpected and accidental element involvements, and so on. Therefore, exaptation is the highly valued guiding ideology in the failure rescue of science-based innovation.#br#A multi-case study is conducted to explore the process mechanism about how to rescue the failures of science-based innovation from the perspective of exaptation. The four cases of Dapoxetine, Minoxidil, Sildenafil and Thalidomide have been selected as the samples. In data collection, the extensive secondary data have been gathered from heterogeneous sources, including the official websites, industry websites, academic research literatures, and public audio and video interviews with relevant scientists and enterprise executives. The proceduralised grounded theory has been applied in data processing , and the step-by-step coding has been carried out following the process of open coding, axial coding and selective coding. The analysis framework based on the existing theories, such as science-based innovation and innovation ecosystem, provides guidance for the labeling, conceptualization and categorization of data in the coding process.#br#The research findings reveal that the exaptation reflects an important failure rescue mechanism of science-based innovation. The failure rescue process of science-based innovation is composed of three stages. (1) In the first stage of the sense-making of the new function, the innovators establish a link between the potential function of scientific discovery and the needs in a new application area, forming a product conception based on the potential function and defining a new product to meet the market demands in that application area. The serendipity triggers the formation of the failure rescue opportunities based on exaptation, which is the way humans perceive the unknown world. (2) In the second stage of the commercialization based on the exaptation, the existing innovation ecosystem for the exaptation is an important condition for the failure rescue of science-based innovation. In the process of the failure rescue of science-based innovation, the basic architecture of the innovation ecosystem must be set up before the former scientific discovery is transferred into the new application areas. The existing innovation ecosystem can support the potential function definition, commercialization of the exaptation by providing the necessary sources and capabilities for the innovations. (3)In the last stage of continuous exaptation, the multiple exaptation can release the innovation value of the failed projects constantly. With the successful sense-making of the potential value of the failed project and the successful commercialization in new application areas, the innovation ecosystem around exaptation has also been developed. The interactions between the innovators are more frequent, and the flows and impacts of information, resources and talents from heterogeneous sources are further reinforced, which increase the occurrence possibilities of a new round of serendipity, promoting continuous exaptation based on more potential functions.Moreover, this study finds that exaptation reflects the failure rescue mechanism both in science-based innovation and the technology-based innovation. In these two kinds of innovations, there are differences in the conditions of innovation ecosystem and the key activities in the failure rescue process.#br#
		2022 Vol. 39 (16): 29-38 [Abstract] ( 271 ) [HTML 1KB] [ PDF 1310KB] ( 575 )

Innovation in Science and Technology Management

	39	Is Product Similarity a Blessing for Technological Acquisitions:A Perspective of Resource Orchestration
		Wang Qian,Ren Shuming,Han Yueqi
		In recent years, technological innovation has gradually broken through corporate boundaries, and leading corporates have shifted from internal R&D to external markets to enhance innovation through technological acquisitions. Although the growth rate of technological acquisitions in terms of value and quantity has far outpaced the overall development of the whole M&A market, it has not had a significant positive impact on corporate innovation. Why, then, do Chinese corporates fail in technological acquisitions? Scholars have a long history of debate on this topic. Existing research has focused on the resource-based view of technological acquisitions from the perspective of resource complementarity, but ignored the dynamic theory and the mechanism of product similarity, which is exactly the key point of this paper.#br#This paper draws on the resource orchestration theory which treats the target selection stage as a resource structuring process and the post-merger integration stage as a resource bundling and a resource leveraging process, to explore the impact of product similarity on each stage of the technological acquisition. First, the resource orchestration theory defines the meaning of technological acquisitions and points out that technological acquisitions are dynamic processes of resource orchestration, and they involve structuring, bundling, and leveraging. This paper argues that resource orchestration theory can compensate for the shortcomings of the static analysis framework of the traditional resource-based view and provide new ideas for decisions on technological acquisitions. Second, the product is the result of dual feedback of technical resources, such as patents, research projects, and customer resources. When there is product similarity between two corporates, this similarity becomes an important basis for the selection of the target by the acquirer, and it is conducive to the improvement of the innovation level of the corporates and becomes the “blessing” of technological acquisitions.#br#As for methodology, this study first conducts a textual analysis to calculate product similarity between each pair of acquirers and targets by employing Python to extract data from annual reports of listed corporates. Then it applies a conditional Logit model as well as negative binomial regression for further econometric analyses. Results show that product similarity promotes structuring, that is, if corporates share high product similarity, it's easier to conduct technological acquisitions between each other; product similarity also contributes to bundling and leveraging through knowledge absorption channel to facilitate integration, while it makes a profit by leveraging the financing environment as well as market competition environment, which ultimately improves innovation. In general, acquirers can take product similarity as a reference for selecting targets when conducting technological acquisitions.#br#Compared with the previous literature, this paper makes innovations on the following three aspects. First, previous studies on resource orchestration theory are mainly focused on the qualitative and treat technological acquisitions as a dynamic process of resource orchestration, which is analyzed in three stages, namely, structuring, bundling, and leveraging. Second, this study analyzes the interrelationship between technology resources and customer resources behind product similarity and explores its impact on the innovation level of corporates after technological acquisitions. It thus expands the impact factors of technological acquisitions from the traditional resource complementarity perspective to the product similarity perspective, which can provide empirical evidence for the literature on technological acquisitions. Third, based on the text analysis method, the study uses Python to extract the textual information in the annual reports of Chinese A-shared listed corporates in the manufacturing industry, and constructs a corpus after obtaining the business fields to measure the product similarity values of both the acquirer and the target and interpret the product textual information in detail to improve the accuracy of product similarity measurement.#br#For policymakers, the government should strengthen the supervision of the information disclosure quality of listed corporates, build an environment of free competition towards corporate innovation, encourage enterprises to actively participate in technological acquisitions, and give play to the resource allocation effect of technological acquisitions on innovation.#br#
		2022 Vol. 39 (16): 39-47 [Abstract] ( 199 ) [HTML 1KB] [ PDF 1208KB] ( 463 )

	48	The Impact of Network Embeddedness and Resource Orchestration on Disruptive Green Technological Innovation
		Wang Juanru,Liu Tongxin
		With the increasing environment uncertainty, consumers' green demand is difficult to predict, and environmental regulations and policies are becoming strict. Thus, in order to achieve green transformation and maintain sustainable competitive advantage, manufacturing firms should conduct disruptive green technological innovation. Due to the limited internal knowledge, firms must acquire external knowledge in disruptive green technology innovation. Social network theory proposes that firms can use network structure and network relationship to obtain knowledge resources, and expand the market and create value through interaction with other network members. Previous research has suggested that organizational learning and external knowledge search can help firms to acquire external knowledge, while network embeddedness has the advantages of low cost and convenience. Therefore, it is necessary to explore the impact of network embeddedness on disruptive green technology innovation. Moreover, the novel knowledge obtained by firms through network embeddedness cannot be directly applied to disruptive green technology innovation, and there is the need to integrate and orchestrate with existing knowledge. The existing studies mainly focused on the impact of internal capacity such as absorptive capacity and integration capacity on green innovation, ignoring the role of resource orchestration. Thus it is essential to explore the mediating effect of resource orchestration between network embeddedness and disruptive green technology innovation. In addition, firms should have dynamic capability to adapt to the external environment in disruptive green technology innovation. However, current studies have discussed the direct effect of dynamic capability on firms' innovation. As a dimension of dynamic capability, environmental insight capacity has received less attention, and there is little research emphasizing the moderating effect of environmental insight capacity in green innovation. Therefore, it is necessary to explore the moderating role of environmental insight capacity between network embeddedness and disruptive green technology innovation.#br#　　Drawing on social network theory and resource orchestration theory, this study explores the influence of the network embeddedness on disruptive green technology innovation, and examines the mediating role of resource orchestration and moderating role of environmental insight capacity. To test the theoretical model, we selected manufacturing firms as research objective, and issued the questionnaires by email, visiting the selected manufacturing firms and MBA classmates who work in manufacturing firms. A total of 360 questionnaires were distributed, and 222 questionnaires were valid, with an effective response rate of 61.67%. We applied hierarchical regression analysis and bootstrap method to test hypotheses. The results indicate that structural embeddedness and relational embeddedness have significant positive impacts on disruptive green technology innovation and resource orchestration. Moreover, resource orchestration plays a significant mediating role between network embeddedness and disruptive green technology innovation, and environmental insight capacity has a significant positive moderating effect on the relationship between relational embeddedness and disruptive green technology innovation.#br#　　〖HJ*2/7〗This study makes several theoretical contributions. First this study divides network embeddedness into structural embeddedness and relational embeddedness, and discusses the effects of two network embeddedness on disruptive green technology innovation. This result enriches the research on antecedents of disruptive green technology innovation. Second, based on resource orchestration theory, this study finds that resource orchestration plays a partial mediating role between network embeddedness and disruptive green technology innovation. The result reveals the important role of resource orchestration in disruptive green technology innovation, and provide new insights for disruptive green technology innovation. Third, this study takes environmental insight capacity as moderator, and finds that environmental insight capacity moderates the relationship between relational embeddedness and disruptive green technology innovation. This result clarifies the relationship between environmental insight capacity and disruptive green technology innovation, and uncovers the effect of environmental insight capacity on disruptive green technology innovation. Therefore it's suggested that manufacturing firms should not only actively manage and maintain the relationship with other network members, but also establish mutually beneficial network relations by communicating with other firms. Second, manufacturing firms should take effective measures to improve resource orchestration and cultivate resource orchestration capability of employees. Specifically, firms should hold team meetings and learning activities related to environmental protection knowledge and technology to enhance communication among employees, eliminate obstacles to cross-departmental communication, and make the best use of knowledge resources. Third, manufacturing firms should also focus on cultivating their own environmental insight capability. For example, firms can set up a special information and intelligence department to search for the latest green products and technologies in the market, hire talents in marketing and technology and establish expert committee to identify and evaluate business opportunities.#br#
		2022 Vol. 39 (16): 48-57 [Abstract] ( 235 ) [HTML 1KB] [ PDF 1246KB] ( 477 )

	58	Build the Nest and Bridge: The Relationship among Knowledge Coupling, Trust and Organizational Learning in University-Industry Collaboration
		Wang Xiaoxiao,Zhu Guilong,Wang Zhonghe
		In the complex, dynamic and uncertain competitive environment, enterprises need to pursue short-term interests to obtain the maximum return of existing products and services. They also need to focus on the long term and constantly explore new technologies and new markets to gain a first-mover advantage. Scholars generally agree that enterprises must have core innovation advantages by implementing explorative learning and exploitative learning. With the deepening of research, some scholars have observed that university-industry collaboration has become an important way of organizational learning. However, most collaborations have not effectively improved the independent innovation capability of enterprises. The reason is that the improvement of enterprises' innovation capability through university-industry collaboration largely depends on the matching of the structure of technological capability between enterprises and academic-research institution and the effective internalization of external resources and knowledge through organizational learning. In addition, the essence of the innovation system of university-industry collaboration is an inter-organizational network of knowledge flow. Knowledge can only trigger organizational learning in the process of sharing. Many scholars have widely recognized that trust is a key factor in promoting knowledge sharing among innovation subjects. Knowledge sharing also includes proactive knowledge output. However, the reasons for trust and what to trust have not been studied and addressed.#br#Based on the above considerations, this study focuses on how enterprises should promote organizational dual learning largely according to their own technical capabilities. It takes the knowledge coupling as the point of penetration, and constructs a unified theoretical model of knowledge coupling on organizational dual learning, and the mediating effect of trust on the relationship between knowledge coupling and organizational dual learning. Based on 226 matching data of university-industry collaboration, the study makes a hierarchical regression analysis to test the hypotheses. The results indicate that the knowledge coupling has significant positive effect on explorative learning and exploitative learning; knowledge coupling has a significant promotion effect on cognition-based trust, rather than affect-based trust. Meanwhile, there is a matching correspondence between trust dimension and organizational learning. Affect-based trust has a more significant impact on explorative learning and cognition-based trust has a more significant impact on exploitative learning. Only cognitive trust plays a partial mediating role among the knowledge coupling, the explorative learning and exploitative learning.#br#This research provides a possible path for constructing a long-term university-industry collaboration and improving organizational learning performance. University-industry collaboration innovation is a complex systematic project. The process of collaboration innovation involves the matching of the structure of technological capability and willingness for collaboration, and the digestion and absorption of knowledge. Firstly, enterprises must realize the important role of innovative resources such as R&D investment, talents, equipment, R&D organization, and truly form a systematic synergy to provide strong support for the improvement of enterprises' independent innovation capabilities. In addition, research-oriented universities should also make efforts to determine the focus of collaboration based on their own ability and structure level, give full play to their own advantages in basic research and applied research, avoid "nanny-style" cooperation, and actively guide the cooperation forces to focus on national science and technology development strategy and frontiers of knowledge. Secondly, organizational learning is inseparable from the trust relationship between university-industry collaboration organizations. As an invisible management method, trust plays the role of bond and adhesive. The key to effectively improving organizational learning through university-industry collaboration is to enhance inter-organizational trust. #br#Future research should further validate the universality of the theoretical model by expanding the sample selection area, and be committed to collecting data in stages to analyze the mechanism and influence path of trust in the process of university-industry collaboration at a deeper level. Moreover it needs further exploration on how to build a long-term cooperation mechanism of university-industry collaboration and improve organizational learning performance.#br#
		2022 Vol. 39 (16): 58-66 [Abstract] ( 304 ) [HTML 1KB] [ PDF 1266KB] ( 428 )

	67	Key Influencing Factors of Digital Entrepreneurial Business Model Innovation in Big Data-Driven Context：An Exploratory Research Using Discourse Analysis Approach
		Li Wenbo
		In the era of big data, humanity has entered the period of digital technology revolution, and digital economy has become the main theme of current economic development across the world. As a product of the era of digital economy, the digital entrepreneurship driven by big data is attracting increasing attention. However, case studies show that the practice of digital entrepreneurship business model innovation in big data-driven context is presenting a very different picture. Therefore, it is an important topic to deeply investigate the key influencing factors behind the innovation of digital entrepreneurship business models in big data-driven context. At the theoretical level, existing studies have answered the question of digital entrepreneurship business model innovation in two dimensions, which are the horizontal expansion along the value chain centered on big data and the vertical expansion of business model innovation. However, compared with the practice of big data-driven digital entrepreneurship business model innovation, the existing results are weak in the study of key influencing factors, mainly because the existing studies focus on examining the direct influence of each independent explanatory variable on digital entrepreneurship business model innovation, and less precisely portray the logical association of each influencing factor. In this context, based on the efficiency of discourse analysis techniques in studying exploratory propositions, this paper focuses on the polymorphic practices of digital entrepreneurship business model innovation around the big data-driven context, systematically distills the key factors influencing digital entrepreneurship business model innovation, and aims to improve the understanding of the appropriateness of digital entrepreneurship business model innovation research in the big data-driven context.#br#　　The discourse analysis methods are uesd to conduct empirical research, and eight digital startups are selected as case study samples based on diverse business model innovations, applications in the field of big data and the amount of data media coverage. Both first-hand and second-hand discourse collection methods are adopted to ensure the reliability and validity of the discourse analysis. The number of valid discourse pool utterances constituted by the two approaches was 860, and NVIVO 8 software was used to assist the initial concept extraction work, and the consistency error was determined by calculating Cohen's Kappa coefficient.#br#　　This study introduces discourse analysis technology into the field of digital entrepreneurship business model innovation research, and provides an in-depth analysis of the kernel issue of influencing factors in big data-driven context. In the big data-driven context, digital entrepreneurship business model innovation should be promoted from both the external data context and the internal subjectivity behavior of enterprises, and enterprises should systematize their data mining capabilities, promote them from hardware and software, technology and management, pay attention to the integration of online and offline channels to promote business model innovation, and focus on differentiated business models in niche markets. On the one hand, the research results enlighten enterprises on data mining capability from the technical perspective, such as data integration capability and data system configuration;on the other hand, they inspire the adaptive behavior of enterprises in business model innovation from the perspective of management, such as knowledge penetration and embedded learning.#br#　　This paper addresses the key issue of digital entrepreneurship business model innovation by systematizing the influencing factors into two story lines，including "big data-driven scenario → data mining capability → digital entrepreneurship business model innovation" and "network shared resources → enterprise adaptation behavior → digital entrepreneurship business model innovation". The research results not only further deepen the path explanation of digital entrepreneurship business model innovation, but also make up for the lack of research on business model innovation in big data-driven context from both technical and managerial perspectives, and enrich the strength of big data-driven explanation of business model innovation. In the part of discourse model refinement, the adjacency matrix and the reachability matrix are applied as the analysis tools of discourse component association, which is an extension of the methodological level. The discourse analysis tools adopted in this paper provide a new analytical perspective for the study of combining big data and business model innovation, and it also provides a new analytical path for the study of enterprise business model innovation under the big data-driven context.#br#
		2022 Vol. 39 (16): 67-76 [Abstract] ( 315 ) [HTML 1KB] [ PDF 1555KB] ( 536 )

Regional Scientific Development

	77	Can Regional Integration Strategy Effectively Enhance the Spillover Effect of Innovation Diffusion? An Example of the Beijing-Tianjin-Hebei Urban Agglomeration
		Ye Tanglin,Li Guoliang,Ren Shaoming,Liu Ying
		In recent years, international trade game is becoming more and more intense with the reshaping of global industrial chain and value chain. Technological powers in a technological monopoly position hold key technologies in core fields firmly, while late-developing countries are increasingly difficult and uncertain to obtain innovation achievements through external channels in the process of promoting their own industrial and value chains. Therefore, the key measures to deal with the uncertainty of the current international economic environment are revitalizing the stock of existing domestic technological achievements effectively, activating the vitality of innovation resources, and enhancing the diffusion effect of regional innovation, and they are of great significance to ensure the steady progress of China′s innovation-driven development strategy and the realization of high-quality development.#br#Therefore this study takes The Beijing-Tianjin-Hebei region as a spatial scope to explore the diffusion effect of regional innovation at the urban scale. First, the significance of the innovation diffusion effect of Beijing-Tianjin-Hebei urban agglomeration is tested by constructing a spatial econometric model covering multiple innovation links such as basic R&D investment, absorption and transformation investment, and innovation achievement output. Secondly, it explores whether the impact of innovation activities in multiple innovation links on regional economic growth has changed significantly before and after the implementation of the regional integration strategy, that is, it verifies whether the impact of innovation input and innovation output on economic growth of cities in urban agglomeration has changed significantly before and after a certain time point from 2012 to 2016 by introducing a structural change model.#br#The study finds that implementing regional integration strategy has a more significant spillover effect on promoting absorption and transformation in the case of imbalanced distribution of innovation resources within urban agglomerations. The internal mechanism is that the implementation of regional integration strategy effectively promotes the development of innovation intermediaries and intellectual property protection subjects in the region, and the intellectual property protection environment is continuously optimized, thus enhancing the willingness of innovation sources to export scientific and technological achievements in the region. The innovation intermediary subject can reduce the information asymmetry between the source of innovation and the hinterland of innovation to a certain extent, thus effectively promoting the trade and promotion of scientific and technological achievements. At the same time, it is also found that the implementation of regional integration strategy in the current stage cannot have a significant impact on the spillover effect of basic R&D investment. The implication is that policy should be focused on the absorption and conversion of scientific and technological achievements, especially to further optimize the intellectual property protection system and improve the innovation intermediary development ecology in the case that regional collaborative innovation is difficult to make from the basic R&D input.#br#On this basis, this study draws the following policy implications. The governments should strengthen the matching efficiency between the research and development end and the demand end, improve the construction of the intellectual property value evaluation system, and promote the efficiency of the transformation of scientific and technological achievements. Starting from the demand side, this study conducts in-depth research on the industrial development needs of Tianjin and Hebei, and explores the direction of the connection between the industrial chain and the innovation chain. As sources of innovation, Beijing's science and technology authorities, leading enterprises, academic research departments and R&D institutions should form relevant teams to conduct discussions and research on high-tech industry sectors in Tianjin and Hebei, look for subdivided industry sectors that have the ability to integrate and connect with Beijing's scientific and technological resources with the actual needs of industrial development, and gradually establish docking "nodes". Then, they should rely on the docking nodes to realize the deep integration of industrial chain and innovation chain. Starting from the supply side,the study explores the application scenarios of Beijing's science and technology innovation resources in Tianjing and Hebei. Governments of Beijing, Tianjin and Hebei should focus on scenario-driven in Tianjin and Hebei, fully tap the potential value of intellectual property, and build a scientific multi-dimensional evaluation index system for intellectual property value of scientific and technological achievements, so as to make more scientific and technological achievements in Beijing (the source of innovation) applied to Tianjin and Hebei (the places where innovation is undertaken).#br#
		2022 Vol. 39 (16): 77-86 [Abstract] ( 351 ) [HTML 1KB] [ PDF 1321KB] ( 379 )

	87	Industrial Development and Spillover Effects in Western Resource-based Regions: A Study Based on the Two Dimensions of Time and Space
		Zhang Rongguang,Qiu Qiwen,Yan Yuhao
		The west resource-based regions provide the solid foundation for the industrial economy in Western China, and are also the key areas for the implementation of the Western Development Strategy.With the advantage of natural resources, these resource-based regions have made a substantial contribution to regional and national economic growth in the early stage of reform and opening up.However, as China's economy has entered a period of high-quality development, these resource-based areas have gradually become a bottleneck of national economic development.Driven by promotive policies, the industrial and economic status quo of western resource-based regions has been improved, but there are still widespread problems such as the disparity of individual development ability, the lack of endogenous development motivation, the imbalance of spatial distribution and the low economic efficiency, which have attracted widespread attention.Many researchers have focused on investigating regional economic and industrial development from the perspective of time and space, ignoring the spatial correlation between regions due to differences in resource endowments, flow of generating factors, and changes in industrial structure in the process of industrial development in resource-based regions.Meanwhile, there is a lack of comprehensive analysis on the temporal and spatial evolution and spillover effects of industrial development in resource-based regions.Therefore, with the implementation of the Western Development Strategy, this article analyzes the industrial development characteristics, layout and evolution process of the western resource-based regions from the time and space dimensions.The marginal productive capacity of production factors in the western resource-based regions is measured as a whole, and the spillover effect of each influencing factor is evaluated by the partial differential method of the regression model.The discussion on the difference and spillover effect of industrial development in western resource-based regions is significant for enhancing the upgrading of industrial structure, optimization of regional strategic layout and high-quality economic development in this region.〖HJ*2/7〗#br#According to the National Sustainable Development Plan for Resource-Based Cities (2013-2020), this article selects 37 prefecture-level western resource-based cities as research samples.First, the Markov chain analysis method is employed to explore the time series characteristics of industrial development levels in resource-based regions in western China from 2008 to 2019.Then,it uses the advanced index of industrial structure to represent the advanced level of industrial structure in western resource-based regions and analyze the evolution characteristics of industrial structure level.Finally, a spatial Durbin model is constructed to explore the spatial spillover effect of industrial development in western resource-based regions with the panel data from 2008 to 2019 of these regions, and the regression model partial differential method are conducted to decompose the total spillover effect and further study the differences in the contribution of factors of production to industrial development.#br#It's found that firstly, the overall stability of industrial development in the western resource-based regions is weak, and the types of transfer between different levels are diversified.There are both upward and downward transfer, and the probability of upward transfer is slightly greater.Secondly, the advanced level of industrial structure in western resource-based areas shows a trend of gradual improvement, but the spatial imbalance is prominent.Thirdly, the spatial difference of industrial development in western resource-based regions is gradually expanding.Regions with higher industrial development level are more likely to realize hierarchical transition due to their more mature industrial system, while most resource-based regions are constrained by resources and environment, and their industrial development level is generally backward or stagnant.Finally, the spatial spillover effect of regional industrial development is significant, and the input of production factors and optimization of industrial structure have different effects on the industrial development of neighboring regions.#br#Although the industrial development in the western resource-based regions is gradually improving, it is difficult to get out of the current predicament only by means of marketization, and the government's macro-control is indispensable.It is a feasible development path to improve spatial governance, give full play to the comparative advantages of various regions to form complementary advantages, promote efficient aggregation of various elements, optimize resource allocation by allocating limited resources to support the industry and enhance the impetus for innovation and development under the leadership of the government.This article provides theoretical and practical suggestions for the reconstruction of industry value chain and the coordinated development of regional economy and ecology in western resource-based regions, the fulfillment of new requirements of western development and the construction of new patterns of western development.#br#
		2022 Vol. 39 (16): 87-94 [Abstract] ( 207 ) [HTML 1KB] [ PDF 1215KB] ( 381 )

Enterprise Innovation Management

	95	Does the Manufacturing Embedded Servitization Promote Firm Innovation？The Perspective of Quantity and Quality
		Xu Jie,Li Lin,Tian Caihong
		China has entered a new stage of high-quality development, transforming from quantity-accumulation innovation to quality-improvement innovation in the inherent requirement for achieving high-quality development. Over the past two decades, China has become the world's largest patent applicant country, but there is still a big gap between China and developed countries in terms of innovation quality. The technological blockade imposed by some western countries on China also shows that many core technologies are still disciplined by others. Meanwhile, manufacturing embedded servitization is the dominant path of manufacturing servitization, which has become a significant direction for the transformation and upgrading of the global manufacturing industry, and an important way for China to enhance the enterprise competitiveness as well. However, events such as GE's decision to spin off its financial services business in 2017 raise the importance of exploring how servitization affects technological innovation in manufacturing companies. Can manufacturing embedded servitization effectively solve the low-quality dilemma of innovation in China? Therefor, how to promote Chinese enterprise high-quality innovation through manufacturing embedded servitization is the key to solve the "bottleneck" problem and speed up the construction of world innovation power.#br#This study measure the embedded servitization of listed manufacturing companies from 2008 to 2018 according to the main products information published in the annual reports. Specifically, if there is a strategic match or complementarity between the service provided by a manufacturing enterprise and the main products, it will be recorded as embedded servitization, and it is further divided into modern embedded service and traditional embedded service according to the degree of technology intensive. Moreover, this study collects the patent application and citation information of sample companies, and the patent quality is measured by the number of citations within 4 years from the date of application, and patent quantity is measured by the number of utility patents and invention patents successfully applied. In addition, mechanism variables include innovation resource and innovation behavior, the former includes R&D funding and R&D personnel, the latter includes cooperative innovation and exploratory Innovation. Panel fixed effects model and mediation mechanism model are used to conduct empirical tests, and instrumental variable model and zero inflation negative binomial model are used to reconfirm the results. The results show that firstly the modern embedded servitization has a double promoting effect on the quantity and quality of firm innovation, while traditional embedded servitization only promotes the patent quantity. Secondly, the innovation effects of embedded servitization have heterogeneous influence on different industry and stage of development, while traditional manufacturing and companies in growing stage can benefit more, comparing with high-tech industry and mature firms. Thirdly, the mediation mechanism tests show that the embedded servitization affects firm innovation mainly by adjusting the structure of production factors and optimizing the innovation behavior, and the innovation resources and exploration innovation are the main channels. 〖HJ*2/7〗#br# This study makes contributions in following three aspects. Firstly, it measures the degree of embedded servitization in manufacturing enterprises, and based on the degree of knowledge intensity, manufacturing service embeddedness is further divided into modern service embeddedness and traditional service embeddedness. Secondly, it confirms the mediating effect of enterprise factor structure adjustment mechanism and enterprise innovation behavior optimization, which open the black box of manufacturing embedded servitization on enterprise innovation. Thirdly, the study reveals many specific conclusions and policy implications that provide micro evidence to explore an effective path of manufacturing servitization, which has certain reference value for improving innovation capacity to solve the low-quality dilemma of innovation in China.#br#According to the research conclusions, the following policy implications are drawn. First, the application of modern service such as the industrial Internet, artificial intelligence and 5G in manufacturing enterprises should be promoted. Meanwhile, it is necessary to accelerate the construction of modern service platforms such as research consultation, inspection and testing institutions. Second, exploring suitable manufacturing servitization paths for enterprises in different industries and development stages, such as strengthening the integration of traditional manufacturing with modern services and increasing the support for the servitization of growing enterprises. Third, local governments should strengthen R&D talent attraction and training program to meet the demand of talents in service transformation, at the same time, enterprises are encouraged to build an open and diversified collaborative innovation network, which will enhance the capacity for independent innovation through openness and cooperation.#br#
		2022 Vol. 39 (16): 95-105 [Abstract] ( 328 ) [HTML 1KB] [ PDF 1361KB] ( 395 )

	106	The Influence Mechanism of Energy Consumption Constraint Target on Green Technology Innovation:The Moderating Effect of Political Connection
		Xie Bo,Jia Jiahao
		China has achieved rapid economic development at the cost of the environment. The extensive mode of economic development characterized by high energy consumption, high pollution and high emissions has led to the increasingly prominent problem of ecological pollution. The high total energy consumption and energy intensity have caused a large number of carbon dioxide emissions, resulting in the greenhouse effect and frequent extreme weather events. Faced with the severe ecological situation, China has incorporated energy consumption constraints into binding indicators since the 11th Five-Year Plan, actively promoted energy conservation, emission reduction and environmental governance, and the strategy of innovation-driven development made by the 18th National Congress of the Communist Party of China has become a scientific guide to deal with the contradiction between economic development and environmental pollution. Market-oriented and enterprise-oriented green technology innovation system has become the strategic guarantee for the transformation to green economy. However, the green technology innovation of enterprises is a complex behavior of multi-factor interaction, and the research on the interaction of energy consumption constraints and corporate political connections on the green technology innovation behavior of enterprises can provide feasible suggestions for the harmonious coexistence of economy and ecology.#br#On the basis of this ground, this study selects the specific categories of environmental regulation as the research object, concretizes the energy consumption constraint target into data and green technology innovation of enterprises one-to-one correspondence, and tests the impact of the energy consumption constraint target on green technology innovation of enterprises and the R & D tendency of enterprises under the coping mechanism by distinguishing the form of enterprise ownership and enterprise patent category. Furthermore this study integrates political connection into the energy consumption constraint target on enterprise green technology innovation in the influence mechanism, and explores the relationship among the three to test if there is a moderating effect of enterprise political connection. #br#In this paper, the data of Chinese listed companies from 2008 to 2020 are selected. The empirical results show that the energy consumption constraint target can effectively promote the green technology innovation of enterprises, and it is particularly significant in state-owned enterprises. Further study finds that with the energy consumption constraint target, state-owned enterprises focus more on the research and development of green invention patents, and pay less attention to the research and development of green utility model patents; while private enterprises pay more attention to both. In addition, in the mechanism of the impact of energy consumption constraint on green technology innovation, the existence of political connections in state-owned enterprises plays a significant role in moderating the impact of energy consumption constraints on green technology innovation, while the moderating effect of political connections in private enterprises is not significant.#br#According to the findings of the study, this study puts forward four suggestions to ensure the healthy and orderly promotion of green technology innovation in enterprises. First, the government should scientifically formulate energy consumption constraint target and give full play to the positive role of energy consumption constraint target in green technological innovation of enterprises. The second is to formulate differentiated incentive policies according to the heterogeneity of enterprises, so as to realize the precise role of policies in green technological innovation. Third, the government should crack down on rent-seeking behavior of enterprises and advocate a fair and just market competition environment. Fourth, the government should guide social green consumption behavior and strengthen the market orientation of green technological innovation.#br#
		2022 Vol. 39 (16): 106-113 [Abstract] ( 221 ) [HTML 1KB] [ PDF 1211KB] ( 391 )

	114	The Dual-factor Effect of the Collaborative Innovation Capability of Clustered Enterprises in IoT
		He zhongbing,Shi Jie,bu Yuxin
		In the era of digital economy, enterprises with the power of collaborative innovation can deal with the high uncertainty from the outside environment and achieve continuous growth advantage along with the changes. The application of IoT technology has further optimized and expanded the scope of influence of the cluster network and changed the way of information communication among the activities organized by the cluster enterprises, and it also brings great changes of the cooperation style of IoT cluster enterprises. #br#Clustered network and information integration are the focus among the research about factors that affect the innovation power of cluster enterprise in the existing research literature. Clustered network is the result of strategic choice, execution and game playing among enterprises, and it provides an important medium for enterprise innovation and is generally considered to be a key factor both in the territory of strategy and organization. In the era of digital economy, especially of IoT technology, the relationship among clustered enterprises is increasingly strongly integrated, date comprised of information become new valuable economic resource，accordingly the power of integrating information can provide the media role for improve the power of collaborative innovation of clustered enterprises. Therefore, this study focuses on how network characteristics affect the collaborative innovation ability of clustered enterprises with the mediating roles of information integrating power in the digital economy.#br#So far, the existing research on clustered network or information integrating methodology through which improves the power of collaborative innovation is relatively independent. The relatively single research paradigm is not enough to explain the complex strategic and organizational behavior attributes of clustered enterprises in clustered network of IoT. This paper puts forward three new concepts: clustered embeddedness in clustering IoT, the power of integrating information in clustering IoT, the power of collaborative innovation in clustering IoT. Considering the interaction mechanism of the core factors of the information generation, transmission, integration and innovation of the clustering IoT, clustered embeddedness in clustering IoT and the power of integrating information in clustering IoT are not isolated factors. Both of them are the core factors to improve the capability of collaborative innovation in clustering IoT; each of them could act mediating role to each other, so as being called double-factor influence mechanism.#br#By combining the new concepts, a dual-factor effect model of clustered enterprises in IoT is built. Constructive equations are used to test the constructive validity of the new conceptions and features of the strategic path to enhance the embeddedness in clustering IoT and the power of integrating information in clustering IoT to improve the capability of collaborative innovation in clustering IoT. Based on the results of empirical research, some constructive opinions for practice are developed.#br#A total of 209 valid questionnaires are collected through online data collection and screening. The three new concepts have been tested by CFA, which shows that the concepts constructed in this paper have certain reliability and validity, and can provide a new theoretical analysis tool for the study of cluster collaborative innovation from the perspectives of network and information. The theoretical model is tested by the Amos Software. The dual-factor model is tested from relational embeddedness and structural embeddedness.#br#It is found that in order to enhance the capability of collaborative innovation, it is necessary to increase the social capital increment in clustering IoT, and improve the power of integrating information in clustering IoT. By comparing the path coefficients of the two-factor effect and the direct effect, it is verified that the power of integrating information in clustering IoT is more important than clustered embeddedness in clustering IoT. This discovery enriches the theory of collaborative innovation capability of enterprises in clustering IoT. Thus clustered enterprises can improve both relational embeddedness and structural embeddedness to enhance the capability of collaborative innovation. It is suggested to improve the information integrating power in clustering IoT by introducing big data and artificial intelligence technology, and then optimize the structure of cluster network in IoT to improve the collaborative innovation ability. In addition, enterprises should promote their innovative capability by promoting the information integrating power at all levels in clustering IoT, so as to seize the development opportunities in the digital economy.#br#
		2022 Vol. 39 (16): 114-122 [Abstract] ( 209 ) [HTML 1KB] [ PDF 1822KB] ( 386 )

	123	Senior Executive Ownership Changes, Technological Innovation and Firm Value：A Comparison based on Different Property Rights
		Qi Yongjun,Wang Longjun
		At present, domestic companies are not motivated enough to invest in technological innovation. The proposal of the CPC Central Committee on the formulation of the 14th Five-Year Plan for National Economic and Social Development and the Long-term Goals of 2035 adopted at the Fifth Plenary Session of the 19th CPC Central Committee is expected to change this situation.The proposal clearly sets out the goal of “improving companies' technological innovation capability” and “strengthening companies' main position in innovations and promoting various innovation factors to aggregate to companies”.Therefore, the listed companies as the entities with rich advantageous resources will be the leading forces to promote domestic technological innovation activities.This study center on the issue if technological innovation input and output can be reflected in the company value.In addition, as the insider of the company's internal information, the change of the senior executive's ownership will inevitably affect the potential value judgment of the external investors on the company's innovation activities and play a moderating role in the impact of technological innovation on the company value.Finally, since state-owned listed companies are controlled by government administrative departments, there are economic and political implications of their technological innovation activities.Compared with non-state-owned listed companies, the impact of their technological innovation input and output on company value and the moderating effect of their senior executive ownership changes are different. #br#This study takes the data of A-share listed companies from 2012 to 2019 as research objects, selects 3415 qualified listed companies, and analyzes the relationship between senior executive ownership changes, technological innovation and company value. It verifies the hypothesis by defining technological innovation input, output, company value and other control variables with different multiple linear regression models. In addition, robustness tests are carried out to ensure the reliability of the conclusions. The results show that technological innovation input measured by the ratio of R&D expenditure to revenue has a positive impact on company value, technological innovation output measured by the number of patent applications also has a positive impact on company value, and senior executive ownership changes have a significant positive moderating effect on the above effects. For the companies with different property rights, the impact of the technological innovation activities on the value of state-owned listed companies and the moderating effect of senior executive ownership changes on the technological innovation activities and company value are significantly lower than that of non-state-owned listed companies.#br# Based on the above conclusions, this paper puts forward the suggestions from such aspects as subsidies for the technological innovation companies by the government, and the performance assessment and stock ownership incentive for the senior executives by the listed companies. Firstly, government departments should adopt economic means to promote companies to be the main forces of technological innovation. Considering the spillover effect of technological innovation, the government should give appropriate subsidies to the technological innovation activities of the listed companies and make them become the leading forces of domestic technological innovations and product upgrading.In particular, state-owned listed companies undertake some political tasks and social responsibilities, and they should be given more subsidies and rewards for their technological innovation input according to their social contribution.Secondly, the assessing period of the company's senior executives should be appropriately extended, and linked with the assessment of the stock price.It takes a long time for technological innovation activities to be transformed into company performance, and a short performance assessing cycle will affect the enthusiasm of the company's executives to invest in technological innovation, thus affecting the company's competitive advantages and long-term development in the future.Because the company's stock price responds to the potential value of innovation activities in advance, a longer assessing period and linking the assessment to the stock price can promote executives to increase the innovation investment, thereby increasing the company's future value.Thirdly, the consistency of the interests of the executives and shareholders should be ensured by the equity incentive means.The shareholding ratio of senior executives in the state-owned listed companies is too small and insignificantto have an incentive effect. It is necessary to improve their shareholding ratio by establishing professional manager system and adopting restricted stocks and stock options, so as to make them to pay more attention to technological innovation and long-term development of the company.By this way, the changes of the executives' shareholding can deliver effective value information to the capital market, and play a moderating role better in the relationship between technological innovation and company value.#br#
		2022 Vol. 39 (16): 123-133 [Abstract] ( 198 ) [HTML 1KB] [ PDF 1243KB] ( 638 )

Legal System and Policy of Science and Technology

	134	Technology, Theory, Problems and China's Response to Artificial Intelligence Algorithm Patents
		Yao Ye
		Artificial intelligence algorithms are involved in all aspects of human life and are used to determine loan rates and manage human resources. They can track, tag, predict and manipulate human behaviors. Analyzed from a technical point of view, algorithms themselves imply that solving a problem should follow structured steps. Historically, algorithm is considered as a natural process. Later, it is regarded as an algorithm written by programmers. At present, it is taken as an algorithm derived from machine learning technique. Subsequently, algorithms combined with certain technical features is considered as patented inventions in some countries and regions such as the European Union and the USA and China.#br#　　　Nevertheless, artificial intelligence algorithms differ from traditional algorithms in that data is fed into them, the formation process is complex, and other factors contradict the established rules of patent law relating to algorithm examination. Many scholars have focused on how the current law should be changed to address the problems brought by artificial intelligence algorithms, lacking the justification for the patentability of artificial intelligence algorithms. Therefore, the purpose of this paper is to explore the distinctive characteristics of artificial intelligence algorithms from traditional algorithms and explore how the examination rules of these algorithms and their theoretical basis may be reformualted and established.#br#　　This paper argues for the justification of patentability of artificial intelligence algorithms from the perspective of promoting innovation by cumulative innovation theory and disclosure innovation theory. Due to the relatively low fixed costs and short time to market associated with artificial intelligence algorithm products, and the rapid and incremental nature of innovation in the artificial intelligence industry, it makes sense to grant patents to artificial intelligence algorithms and encourage developers to disclose technical solutions. Furthermore, patenting algorithms will enhance their transparency. In addition, this paper uses a comparative approach as a research method. In this paper, the patent laws and guidelines of the USA, China and the European Union are compared horizontally. In the Patent Examination Guidelines of the European Union, the artificial intelligence algorithms are excluded from the exclusion list because they are related to mathematical methods, ang when technical problems are involved, they can be regarded as patents. The USA has also updated its Patent Examination Guidelines to include a two-step test to address patent law issues for artificial intelligence algorithms. The Patent Examination Guidelines of China make additional provisions for the examination of artificial intelligence algorithms by amending the provisions It emphasizes the overall consideration principle of the claims, specifying that claims containing technical and algorithmic features should not be excluded from patentability, and that all claims should be considered as a whole in the process of examination of the patent office.#br#After analysis, this paper finds out that China encounters many obstacles in examining artificial intelligence algorithms. first, the algorithmic black box. Secondly, it is unknown whether artificial intelligence algorithms can be replicated, or if they can be implemented successfully with positive social effects. Third, in terms of creativity, it is difficult to determine the technical field and to judge whether the technical solution is positively progressive. Fourth, with respect to novelty, artificial intelligence algorithms' arithmetic power and data storage capabilities make it possible to bypass the examiner's database or search methods and produce seemingly novel but outdated solutions.#br#Therefore, this paper argues that the examination guidelines of China should be appropriately modified to address these issues like the provisions in China's patent examination guidelines and the the disclosure rules. It is essential to disclose not only the basic structure of the artificial intelligence model, but also the training method and the training data. Third, when conducting the "novelty" review, the "implementation effect" of the technical solution should be examined, and the model and training data of the artificial intelligence algorithm should be disclosed within a reasonable and legal scope. Fourth, when examining "inventiveness," attention should be paid to the concept of its technical field.#br#Although it is reasonable and gradually accepted to protect artificial intelligence algorithms under patent law, artificial intelligence algorithms may also be acquired and controlled by investors because they consist of underlying code. Therefore, artificial intelligence algorithms may also be the object of copyright law and the object of trade secret protection. The protection of patents on artificial intelligence algorithms cannot extinguish the possibility of their protection in other legal systems.#br#
		2022 Vol. 39 (16): 134-141 [Abstract] ( 232 ) [HTML 1KB] [ PDF 1194KB] ( 546 )

	142	The Incentive Effect of the "Lump Sum System" Policy of Scientific Research Funds Based on PSM-DID
	')" href="#">	Zhao Liyu,Ge Rui,SunYu
		Along with the fierce global science and technology competition and the pressure of unstable international environment, the Communist Party of China and the Chinese government are paying increasing attention to the development of science and technology innovation. Since the reform and opening-up more than 40 years ago, both the central and local governments in China are investing huge financial research funds and management efforts in the reform of science and technology system and mechanism. Through the continuous efforts, from the practical point of view, the relevant science and technology policies have been optimized to some extant. The "lump-sum system” for research funding is an important part of the current science and technology policy and reform of the science and technology system, which has already being piloted in 2019 and will be further expanded in and after 2022. The implementation of "lump-sum system” is of great significance in expanding the autonomy of researchers, stimulating their innovative energy, and improving the efficiency of research funds. #br#At present, a large quantity of studies have been conducted in domestic and international on the "lump-sum system" policy of research funding. However, through collecting and analyzing the relevant literature, it is found that there is a lack of research results on the empirical analysis of the effect of the "lump sum system" policy on research funding at the academic level. Therefore this study obtains the research data and subjects by the means of a questionnaire survey, and on the basis of the idea of experimental economics, it sets up a control group and an experimental group to evaluate the effect of the "lump sum system" policy on the research staff who participated in the "lump sum" project and those who did not participate in the "lump sum" project. The PSM-DID research method is used to empirically analyze the incentive effects of the implementation of the “lump-sum system” research funding policy in China. And the research validity is verified by the robustness tes. The study results show that the implementation of the "lump sum system" has a positive moderating effect and a positive motivating effect on the job satisfaction of researchers, and it shows a strong motivating effect. #br#In view of the above findings, this study proposes the following suggestions on how to further exert the positive incentive effect of the "lump-sum" research funding policy and give full play to the innovation effect of science and technology policy. First, in the process of implementing the "lump sum system" policy for research funding, the central and local governments should further expand the funding autonomy of researchers. Secondly, the proportion of overhead costs in financial research funds should be appropriately increased to meet the current practical needs of researchers in the use of funds. Thirdly, in the reform of the science and technology system, the research funding management system should be improved from top to bottom. In addition, it is essential for each responsible department to strengthen interdepartmental collaboration and communication in the process of policy implementation. Finally, humanized supervision and auditing mechanisms are supposed to play an important role in the supervision over the use of research funds. #br#Future research can adopt different methods such as grounded theory and evidence-based test to test the effect of the "lump sum system" policy, so as to continuously optimize the its scientificity, rationality and practical operability. With the promotion of the "lump sum system" of scientific research funds and the gradual expansion of the autonomy of scientific research funds management, the scientific research performance evaluation of scientific research personnel is also one of the important issues worthy of attention and research in the future.#br#
		2022 Vol. 39 (16): 142-152 [Abstract] ( 275 ) [HTML 1KB] [ PDF 1531KB] ( 503 )

Sci-tech Talent Cultivation

	153	Influence Mechanism of Team-member Exchange Differentiation on Team Innovation
		Chen Chao,Liu Xinmei
		With the increasingly fierce market competition, a team has gradually become the basic unit for organizations to promote innovation. In innovative tasks, team-member exchange (TMX) relationship runs through the whole innovation process, thus, TMX has a significant impact on team innovation. However, due to differences in expertise, personality and other aspects among team members, members in teams may maintain high-quality exchange relationships with some colleagues, while maintaining low-quality exchange relationships with others, thus forming TMX differentiation. We are triggered to ask how and when TMX differentiation affects team innovation. Until now, even though much more scholars have focused on horizontal interactional relationship, the influence of TMX differentiation on team innovation hasn't been explored. Moreover, some scholars have called for further research on the impact of TMX differentiation on team output including team innovation in the future. Therefore, based upon the social cognitive theory, this study takes both horizontal and vertical interactional relationships into consideration simultaneously and builds up a moderated mediation model to explore the influence mechanism of TMX differentiation on team innovation. Moreover, the mediating role of team cognitive integration and the moderating role of relational transparency are examined. This study uses a survey data from 74 teams and 396 members in more than ten high-technology firms from Northern China with a multiple-source, time-lagged research design, and then employs statistics analysis methods including SPSS and analyzes the data to test the proposed hypotheses. The results are as follows. First, TMX differentiation makes a negative influence on team innovation. Second, TMX differentiation affects team cognitive integration negatively. Third, team cognitive integration is positively related to team innovation, and cognitive integration mediates the association between TMX differentiation and team innovation. Fourth, relational transparency moderates the relationship between TMX differentiation and team cognitive integration, and TMX differentiation has a stronger negative impact on team cognitive integration under low relational transparency than under high relational transparency. Finally, relational transparency moderates the mediated relationship between TMX differentiation and team innovation (via team cognitive integration), to be more specific, the mediated relationship is much stronger under low relational transparency than under high relational transparency. 　　　By exploring the impact of TMX differentiation on team outputs by linking TMX differentiation to team innovation,this stduy enriches the current research on the mediating mechanism of the influence of TMX differentiation on team innovation by exploring the mediating role of team cognitive integration.Moreover it verifies the effectiveness of both horizontal interactional relationship (i.e., TMX differentiation) and vertical interactional relationship (i.e., relational transparency) in the same model, and broadens the applicable scope of relational transparency by finding out the moderating role of relational transparency played in the relationship between TMX differentiation and team innovation. The findings of this study enhance the understanding of the relationship between TMX differentiation and team innovation, expand the exploration of TMX differentiation, and enrich team innovation and TMX differentiation fields. In addition, it calls for further investigation of the effectiveness of TMX differentiation in future studies. The research results of this paper also have significance for team innovation in practice. First, for team leaders, they should provide more chance to communicate with team members so that more innovative ideas can be put forward and carried out. For instance, team leaders can hold seminars or meetings where team members can work together to solve specific innovative jobs. For team members, they ought to find out the strengths of other colleagues from TMX differentiation instead of focusing on unfairness. For example, members should ask for advice and learn from their coworkers when collaborating on the same task. Second, team leaders should encourage team members to chat with each other in order that members can trust each other and find out solutions to accomplish team tasks as if they share daily information, thus promoting team innovation. Finally, team leaders should focus on improving relational transparency. For example, when leading members complete team innovation tasks, team leaders can clearly express their intention and pay attention to whether subordinates understand accurately, so as to improve work efficiency. Team leaders should tolerate mistakes so that their subordinates can feel their sincerity and humility.
		2022 Vol. 39 (16): 153-160 [Abstract] ( 207 ) [HTML 1KB] [ PDF 1222KB] ( 550 )

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