从股权集中度对企业内外部创新承诺影响的角度出发,探讨了在大股东控制和股权分散的情况下,企业的内外部承诺和创新方式之间的关系。研究得出了股权分散企业在资本市场上获得交易型主导的承诺,大股东控制企业在资本市场上获得关系型主导的承诺,而当外部承诺以交易型为主导时,对企业进行突变创新更有利,以关系型为主导时,对企业进行渐进创新更有利等一些结论,一定程度上揭示了股权集中度与渐进创新和突变创新之间的内在联系。
This paper commitment to innovation discusses the and innovation relation between ownership concentration, internal and external We find in the capital market, dispersed shareholding enterprises gets the transaction-oriented commitment to innovation, while large shareholder control enterprises gets the relations-oriented commitment to innovation. When external commitment is led by transaction-oriented commitment, the radical innovation will be more favorable. And when external commitment is led by relations-oriented commitment, the radical innovation will be more favorable, and so on. To some extent, we revealed the relation between radical innovation and increment innovation.