共同机构所有权如何影响商业模式创新？

IF 7.4 2区经济学 Q1 BUSINESS, FINANCE

Finance Research Letters Pub Date : 2025-06-13 DOI:10.1016/j.frl.2025.107765

Junrui Li , Lei Liu

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引用次数: 0

摘要

在探索普通机构所有权对企业商业模式创新的影响过程中，本文发现两者之间存在正相关关系，其作用路径是提高企业动态能力，降低交易成本。同时，研究表明，在非国有企业、稳定的机构投资者参股、数字经济发展水平较高、产品市场竞争激烈的情况下，共同机构持股对企业商业模式创新的促进作用更为显著。本研究在微观层面为企业完善公司治理结构提供指导，在宏观层面为政府制定资本市场监管政策提供参考。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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How does common institutional ownership affect business models innovation?

In the process of exploring how common institutional ownership affects the business model innovation of enterprises, this paper finds that there is a positive correlation between the two, and the path of action is to improve the dynamic capabilities of enterprises and reduce transaction costs. At the same time, the research shows that the promoting effect of common institutional ownership on the business model innovation of enterprises is more significant in the situations of non-state-owned enterprises, joint shareholding by stable institutional investors, a high level of development of the digital economy, and intense competition in the product market. This research provides guidance for enterprises to improve their corporate governance structure at the micro level, and offers references for the government to formulate regulatory policies for the capital market at the macro level.

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来源期刊

Finance Research Letters BUSINESS, FINANCE-

CiteScore

11.10

自引率

14.40%

发文量

863

期刊介绍： Finance Research Letters welcomes submissions across all areas of finance, aiming for rapid publication of significant new findings. The journal particularly encourages papers that provide insight into the replicability of established results, examine the cross-national applicability of previous findings, challenge existing methodologies, or demonstrate methodological contingencies. Papers are invited in the following areas: Actuarial studies Alternative investments Asset Pricing Bankruptcy and liquidation Banks and other Depository Institutions Behavioral and experimental finance Bibliometric and Scientometric studies of finance Capital budgeting and corporate investment Capital markets and accounting Capital structure and payout policy Commodities Contagion, crises and interdependence Corporate governance Credit and fixed income markets and instruments Derivatives Emerging markets Energy Finance and Energy Markets Financial Econometrics Financial History Financial intermediation and money markets Financial markets and marketplaces Financial Mathematics and Econophysics Financial Regulation and Law Forecasting Frontier market studies International Finance Market efficiency, event studies Mergers, acquisitions and the market for corporate control Micro Finance Institutions Microstructure Non-bank Financial Institutions Personal Finance Portfolio choice and investing Real estate finance and investing Risk SME, Family and Entrepreneurial Finance