Abstract: This paper first constructs the matching data of China industrial enterprise database, China patent database and Google Patent system, and integrates the innovation input, the innovation output and the innovation efficiency of enterprises into a unified research framework, so as to sort out the three characteristic facts of the innovation behavior of Chinese state-owned enterprises in detail. On this basis, it further uses the above-mentioned matching data to test the effect of the introduction of private capital by state-owned enterprises on the innovation behavior and the effect of its homogeneity. It is found that the promotion effect of private capital on the innovation output mainly comes from the growth of the innovation efficiency of enterprises, rather than the increase of the innovation input of enterprises. Moreover, the effect will be more significant in highly competitive industries and in regions with weaker government intervention. Further study on the differences in the effect due to the different degree of the introduction of private capital finds that the full entry of private capital is significantly conducive to the improvement of the innovation efficiency and the innovation output of enterprises, but the positive impact of the partial entry of private capital on enterprises' innovation behavior is not significant.

Key words: State-owned Enterprise, Innovative Behavior, Private Capital

摘要： 本文首先构建中国工业企业数据库、中国专利数据库和Google Patent检索系统的匹配数据,将企业的创新投入、创新产出及创新效率纳入统一的研究框架,梳理得出国有企业创新行为具有三个特征事实。进一步地,利用前述的匹配数据实证检验国有企业引入民营资本对企业创新行为的作用效果及其异质性效应,发现民营资本的进入对企业创新产出的积极影响主要来自于企业创新效率的增长,而非企业创新投入的增加,且该作用效果在高竞争性行业及政府干预程度较弱的地区更加明显。考察这一影响效应因民营资本的进入程度不同而具有的差异化作用后发现,民营资本的完全进入明显有助于企业的创新产出及创新效率的提升,而部分进入对企业创新行为的积极影响并不显著。

关键词: 国有企业, 创新行为, 民营资本