Study On The Governance Mechanism Of State-Owned Capital Investment Company On Industrial Chain

Several enterprises that are represented by state-owned capital investment companies have performed a great deal of useful exploration of industrial development and industrial chain construction in recent years,including Shenzhen Investment Holdings Limited(hereinafter referred to as SIHC)and Hefei Industrial Investment Group(hereinafter referred to as HIIG).This has helped establish a more complete industrial chain in the local area and effectively enhanced the integration of resources and industrial cultivation capacity.Previous studies have mainly focused on either the value chain governance of industrial chains or the institutional mechanism construction of state-owned capital investment companies,while relatively few have conducted an exploration of the governance mechanism of industrial chains from the perspective of state-owned capital investment companies.By conducting relevant studies,the industrial chain theory can be supplemented with micro-mechanisms,research perspectives on the reform of stateowned capital and state-owned enterprises can be enriched and empirical references can be provided for the deepening reform of state-owned capital investment companies.The development paradigm of how late-developing countries can build industrial chains through state-owned enterprises in the Chinese context will then be elaborated upon.Based on research relating to enterprise competitive advantage,the industrial and global value chains,the governance mechanism of state-owned capital investment companies on the industrial chain is classified into six dimensions by this paper:market environment,institutional environment,driving factors,driving mechanism,governance mode and role effect.In addition,a cross-case cross-sectional comparison study is utilised for refining the governance mechanisms of the industrial chains of SIHC and HIIG.The conclusions of this paper will ultimately be drawn through a comparison of the homogeneity and heterogeneity of the governance mechanisms.The results of this study show that(1)SCIC has homogenous internal competitive advantages due to the market and institutional environment;(2)the market and institutional environment of the location have a facilitating effect on the development of the governance path of SCIC in terms of “central leadership” to “pluralistic coordination”;and(3)the upgrading effect of industrial clusters of SCIC that is based on the internal and external environment has a diversified trend,which will result in the local market and institutional environment changing.This study will serve to enrich previous research on the industrial chain governance of state-owned capital investment companies and will also hopefully provide theoretical references for state-owned capital investment companies to conduct industrial chain construction,promote corporate reform,improve corporate performance,practise national missions and enhance the control and influence of state-owned capital.