Nee Kang Opper

Markets and Innovation: A Theory Victor Nee, Jeong-han Kang, and Sonja Opper Presented at The Conference on Chinese Capitalism A.D. White House, Cornell University, April 20-21, 2007

Economic sociology of innovation ,[object Object],[object Object],[object Object],[object Object]

Economic sociology of innovation ,[object Object],[object Object],Realignment of Interests Command Economy Market Economy

A Theory of Innovation ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

A Theory of Innovation ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Q D Quality Price A B 0 C D U 1 U 2 U 3 P D U n N Q N P N

A Theory of Innovation ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Derived hypotheses: ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Transition to dynamic capitalism in China ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Transition to dynamic capitalism in China – some macro evidence

Microlevel Evidence ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Microlevel evidence Firm characteristics Founded before reform, size, financial leverage, city Competition Market share >10% Competitiors in main business, competitiors in main business sqaured, firm exports, sector ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Independent variables Dependent variables

Results: Hypothesis 1 – on role of innovation activities + + -*** - - + +* -*** + + + - R&D to sales ratio + +*** +*** +*** +*** +*** +*** +*** +*** +* + + Con-ducts R&D + + + +* +*** +*** +** + +*** +*** +*** +*** Patents granted in pre-ceding years cl3 cl2 cl1 cl3 cl2 cl1 cl3 cl2 cl1 cl3 cl2 cl1 Quality control innovation Process innovation Product innovation Patent

Results: Hypothesis 2 – on the role of networks + +*** +** + +*** +*** + +*** +*** + + + R&D coop with RI +*** - +*** + - + + +** +** +*** +** - R&D coop with university +** +* +*** +** +** +*** +*** +*** +*** + - +* R&D coop. with firm + +** +*** + +* +*** +** +*** +*** + +* + Business asso-ciation +** +*** +* + + +** +*** - +*** + - +*** Industrial park Cl3 cl2 Cl1 cl3 cl2 cl1 cl3 cl2 cl1 cl3 Cl2 cl1 Quality Cotrol Innovation Process innovation Product innovation Patent

Hypothesis 3+4: innovation and politics +* - + +*** -** -* -** -* - -* - + <99% + - -*** - + - - -* - - - -* <100% + -*** - +*** - - + - -*** -*** +* - <50% + - - + +* - + - - - - + <25% - -** + + - + - + + - - - SOE cl3 cl2 Cl1 cl3 cl2 cl1 cl3 cl2 cl1 cl3 cl2 cl1 Quality control innovation Process innovation Product innovation patent

Summary results No No Yes (for more than 50% state share) Yes (for 1% to 99% state share) H4: Ownership-marketization hypothesis No No Yes(for more than 25% state share) Yes (for more than 25% state share) H3: Ownership hypothesis Yes Yes Yes Yes H2: Network hypothesis Yes Yes Yes Yes H1: R&D hypothesis Quality control innovation Process Innovation Product innovation Patent

Conclusion ,[object Object],[object Object],[object Object],[object Object],[object Object]

Nee Kang Opper

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Nee Kang Opper