Research On The Formation Mechanism Of The CoPS Innovation Risk

Since 21 century, our country’s Complex Products and Systems (CoPS, for Short) such as high speed rail has been developed rapidly, which not only makes CoPS become an important part of the construction of innovative country in China, but also in the whole world. However, due to the lack of deep understanding of the mechanism of CoPS innovation risk and effective risk management mechanism, there are serious problems in the risk management of CoPS innovation projects in China. Therefore, the key to control risk is to reveal the theory of CoPS innovation risk generation mechanism.By combing the existing research, we can realize that the previous studies has focused on the objective risk factors, such as technological risk, market risk, environmental risk and so on, while few scholars concentrated on the human capital owner’s behavior factors in the risk generation mechanism researches. In fact, as the human capital owner controls human capital, considered as the most important capital investment in company, therefore their behaviors will largely affect the result of CoPS innovation. The full realization of the property rights of human capital is an important prerequisite for the function of the human capital. When one realizes that the human capital property rights realization is deficient, he may act oopportunisticly to pursuit his own interest, which may increase the innovation risk of the CoPS project based on different organizations, numerour staff and complex technology.Reviewing the domestic and foreign literature, this paper combines the theory of complex product system innovation risk, the theory of human capital property right and opportunism, initially built up a risk formation mechanism model. Second, we use exploratory cross case study method to analyse the Shanghai subway collision case and Hangzhou subway collapse case by using the grounded theory and cross case analysis, and introduct several control variables and take human capital investment as variable, which modify the theoretical model. Then we use SPSS19.0 and AMOS17.0 to test the experimental data, result of a large sample survey by questionnaire survey method, using correlation and regression analysis, intermediary effect test and so on, and verify the theoretical model and the hypothesis.This research finally confirms the existence of risk formation mechanism chain, namely the deficiency realization of human capital property right-opportunistic behavior-CoPS innovation risk, that is, the human capital usage rights realization deficiency first influence the implicit opportunism and then influence on the CoPS innovation risk, while the human capital earning rights realization deficiency can influence both the explicit and implicit opportunism first and then influence on the CoPS innovation risk. In addition, there are few hypothesis have not been confirmed. On the basis of the literature, this paper makes some discussions and summary of the above research results, and gives the corresponding management implications, research problems and future prospects. The main contribution of this research is that, firstly, this paper introduces the perspective of the human capital property rights into the research of the CoPS innovation risk, and reveals the risk generation mechanism and constructs the theoretical analysis framework of CoPS innovation risk management, which makes some theoretical innovation. Secondly, it focuses on the behavior factors of the human capital owners, breaking through the limitations that the former researches care too much about the objective factors such as the technology, the environment, and so on. Moreover, combining the the literature research and empirical research on the issue of human capital property rights realization can deepen the theory of human capital property rights.