| As the accelerated evolution of the new round of scientific and technological revolution and industrial transformation,innovation driven development has becomes the most important strategy for the governments around the world to seek competitive advantage and sustainable development.As an important source of innovative knowledge,colleges and universities play an important role in the national innovation system.In the framework of the theory of the economics of innovation,this paper study what is the motivation of innovation activities of Chinese universities and how the innovative knowledge flows,and we will show the micro-impact of university innovation on the local enterprises' R&D and performance.This article consists of six chapters.The first chapter is the preface,which introduces the research background,goals and significance,research ideas,structure and methods,as well as the innovation and contributions of the research.The second chapter is the literature review,we review and combine the relevant theories of economics of innovation and the empirical research related to university innovation.Chapters 3 to 5 are the core chapters of this paper:Chapters 3 is policy incentives and university innovation.Using the panel data of 31 universities in the 985-project from 1998 to 2015,we explore the impact of school-level property rights innovation incentive policies on the number of patent applications,authorizations,renewal rates,citations and its transformation,and we further study the mechanism of policy effects and compare its effects with other innovation incentive policies;Chapters 4 is the determinants of university knowledge flows and its influencing factors.Using 84100 prefecture-pairs data from 2000 to 2015,we examine the impact of distance on the university knowledge flows and its heterogeneity.Applying the high-speed rail(HSR)as an exogenous shock,we empirically explore the impact of HSR on the university knowledge flows;Chapter 5 is university innovation and enterprise R&D.Using 2472 listed companies data from 2008 to 2015,we study how universities' innovation outputs impact firms' innovation.By constructing a firm-college cognitive distance index,we accurately describe the "technical similarity" between firms and colleges,and then incorporate this index into empirical models to analyze the impact of the cognitive distance on university knowledge spillovers and its heterogeneity.Chapters 6 is to summarize the whole article and make relevant policy recommendations.The empirical results show that:(1)The quantity of innovations of the universities which adopting the property rights incentive policy(BD policy)has been improved in the long run,the quality of innovations and the incomes of technology transfer have been improved in the short run,and the mechanism is to provide incentives for more researchers to disclose and commercialize their inventions and to pursue global patent filing strategies.Compared with the property rights incentive policy,subsidy for patenting merely improves the quantity of innovations,tenure promotion improves the quality of innovation,and however,the cash bonus for patent granting has no significant effect.Using dynamic DID regression and propensity score matching(PSM)methods to solve potential endogeneity problems,the conclusions are still robust.Our results provide support for further exploring the reform of ownership of university-based innovations.(2)We find the significance of the drop in universities knowledge flows,as well as the reducing possibility of being cited of university patents,as the distance increased.Knowledge originated from 985 universities exhibits the most extensive geographic diffusion.University knowledge,which from the computer and drug sectors,flows substantially farther.University knowledge,which learned by firms,flows more closer.High-speed rail(HSR)significantly increase the possibility of outside learning of university innovative knowledge,and also increase the quantities of university innovative knowledge which be learned.Using the distribution of China's railway network in 1949 as an instrument variable(IV)for HSR to solve the endogenous problems,the above results are still robust.(3)Knowledge spillovers of universities are able to significantly improve the innovation output of listed firms which in the same province.After controlling the spatial proximity,the empirical results suggest that the relationship between cognitive distance,which between firms and universities,and the scale of knowledge spillovers is a "U" shape.The results of the heterogeneity analysis show that the university-firm knowledge spillover is more likely to occur in or has a greater impact on the SOEs,the regions which have stronger IPR protection and the industry of electronics.The above conclusions are still robust after replacing the dependant variables. |
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