Research Of Political Association,Risk Bearing Ability And Private Enterprise's Technology Innovation

In China,the government has a right to allocate large number of resources,and private enterprises that establish political association actively are more vulnerable to access to government-controlled scarce resources.Political relations can also be used as an informal alternative system for enterprises to provide property protection,so most private enterprises actively through various ways to establish good relations with the government.Many studies have found that political connections can help private enterprises to obtain innovative resources and protect the enterprise innovation income,which can promote technological innovation of enterprise.However,some studies found the political association can not effectively promote private enterprise technological innovation and even hinder its technological innovation.Behind this contradiction lies in the failure to fully take into account the level of private enterprises' risk-taking.Political connections,while helping private enterprises access to innovative resources,but the corporate risk exposure will have a impact on access the resources into technological innovation activities.Based on this,this paper studies the relationship among private enterprises'political connection,bearing ability and technological innovation,from the perspective of private enterprise's risk allocation which affects the allocation of innovative resources.This article selects 280 private listed companies of SME board and growth enterprise market between 2010-2013 as samples,using Poisson regression model and Hierarchical regression model for the empirical analysis,and combining with a actual case for specification and verification.Then the following conclusions are got:political relationship can improve technology innovation of enterprises.At the same time,a higher level of risk-taking will strengthen the promotion,on the contrary,will weaken the promotion.This paper provides the path for the technological innovation of private enterprises,and provides some policy suggestions for the government to optimize the resources disposition.