共同机构所有权对涉海上市企业创新水平的影响OA

Building an ocean power is a major strategic task to achieve the great rejuvenation of the Chinese nation,and building an ocean power requires the development of marine science and technology.This paper empirically examines the impact of common institutional ownership on the innovation level of sea-related firms.Specifically,this paper applies a panel fixed-effects model to examine the impact of common institutional ownership on corporate innovation based on the data of Chinese sea-related listed firms from 2000 to 2022.It is found that(1)common institutional ownership can significantly increase corporate innovation.(2)Common institutional ownership improves the level of corporate innovation by exerting synergistic governance effects.(3)If there are long-term common institutional investors in sea-related listed firms,the promotion effect of common institutional ownership on corporate innovation is larger.The above conclusions still hold after testing by instrumental variable method,Heckman two-stage regression,and replacing the explanatory variables.This study can provide theoretical basis and empirical support for the sustainable development of sea-related enterprises and the formulation of policies by government departments to regulate and guide the development of joint institutional ownership.