Research On The Nature Of Property Right?Market Structure And Enterprise Innovation Motivation

After the Third Plenary Session of the Eighteenth Central Committee of the Communist Party of China,China has entered a new era of comprehensive and deepening reform.In the aspect of deepening the reform of state-owned economy in an all-round way,the basic goal of our country is to achieve the comprehensive integration of state-owned economy and mature market economy system under the condition that the market plays a decisive role in the allocation of resources.In order to achieve this goal,China is now facing the following four basic tasks:first,adjusting the functional orientation and layout of the state-owned economy according to the national mission and keeping pace with the times.Secondly,we should coordinate the reform of mixed ownership and establish the main forms of realization of the state-owned economy.Thirdly,we should build a new state-owned economic management system covering all levels and classifications.Fourthly,we should promote the improvement of the modern enterprise system in state-owned enterprises and lay down the micro-governance mechanism for the efficient operation of the state-owned economy.As an important way to deepen the reform of state-owned enterprises,the development of mixed ownership economy will play an important role in the future for a long time.In the report of the Nineteenth National Congress of the CPC,General Secretary Xi Jinping emphasized that"innovation is the first driving force leading development and the strategic support for building a modern economic system."Only by cultivating new economic growth points through innovation can we achieve the goal of maintaining medium and high-speed economic growth and striding toward the middle and high-end level of the industry.Therefore,the study of the relationship between market structure and innovation motivation under mixed ownership can not only provide policy recommendations for the implementation of innovation-driven strategy at the enterprise level,but also provide some reference for the government to choose the appropriate market structure to achieve the best innovation efficiency of mixed ownership enterprises and design more accurate R&D support policies.In order to achieve the purpose of this paper,the unknown innovation motivation of mixed ownership enterprises in different market structures is expressed as a function of nationalization coefficient and product differentiation degree(the difference between the quality of new products and the quality of old products).By using the method of controlling variables,the relationship between innovation motivation of mixed ownership enterprises,nationalization coefficient and product differentiation degree is analyzed,and then the innovation motivation among different market structures is compared,and the corresponding conclusions are drawn.In order to express innovation motivation in the form of function,a product differentiation model based on Hotelling model is constructed.It is assumed that the quality difference of products in this model is due to the innovation of mixed ownership enterprises.Based on Matsumura's utility model of mixed ownership enterprise(1998),the utility of mixed ownership enterprise before and after innovation under different market structures is calculated,and its innovation motivation is expressed by the utility change scale of mixed ownership enterprise before and after innovation.Then the above analysis is carried out.According to previous studies,we predict that the structure of property rights and the degree of product differentiation may have an impact on the innovation motivation of mixed ownership enterprises under different market structures,and even the change of market structure under different property rights structures may have different results on the innovation motivation of enterprises.This paper finds that when considering the relationship between innovation motivation and degree of nationalization,under the market structure of complete monopoly,the innovation motivation of completely private enterprises is the greatest,while under the market structure of complete competition,the innovation motivation of completely nationalized enterprises is the greatest.When considering the relationship between enterprise innovation motivation and product differentiation,there is a U-shaped relationship between enterprise innovation motivation and product differentiation under the duopoly market structure of complete competition,complete monopoly and small nationalization coefficient.When comparing the innovation motivation of enterprises with different market structures,the innovation motivation of enterprises under duopoly market structure is always greater than that of complete competition market structure;the complete monopoly market structure is also greater than that of complete innovation market structure,except when the nationalization coefficient is close to 1 and the quality of new products is far better than that of old products.