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Volume 39 Issue 4
Aug.  2025
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Article Navigation >  Accounting and Economic Research  > 2025  >  39(4): 74-93
Zhao Xiaoyang, Wang Yu, Guan Feng. 2025. Can Fair Market Competition Promote State-owned Enterprise Innovation? —A Quasi-natural Experiment Based on the Fair Competition Review System. Accounting and Economic Research, 39(4): 74-93.
Citation: Zhao Xiaoyang, Wang Yu, Guan Feng. 2025. Can Fair Market Competition Promote State-owned Enterprise Innovation? —A Quasi-natural Experiment Based on the Fair Competition Review System. Accounting and Economic Research, 39(4): 74-93.
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Can Fair Market Competition Promote State-owned Enterprise Innovation? —A Quasi-natural Experiment Based on the Fair Competition Review System

  • 1.

    School of Management, Jinan University, Guangzhou Guangdong 510632, China

  • 2.

    School of Accounting, Nanjing Audit University, Nanjing Jiangsu 211815, China

  • 3.

    School of Accountancy, Shanghai University of Finance and Economics, Shanghai 200433, China

  • Received Date: 2023-02-28
    Available Online: 2026-03-13
  • Publish Date: 2025-08-20
    Abstract
  • The core of building a unified national market lies in breaking down regional barriers, unifying market standards, and maintaining fair market competition. Using the implementation of the Fair Competition Review System as a quasi-natural experiment, this study empirically examines the impact of fair market competition on innovation in state-owned enterprises (SOEs). The findings indicate that fair market competition significantly enhances SOE innovation inputs. This effect is stronger in industries with intense competition, firms with stronger internal incentives, or those receiving greater attention from external capital markets. the impact path analysis shows that fair market competition helps to optimize the structure of human capital and thus affects the innovation of state-owned enterprises. Path analysis reveals that fair market competition promotes SOE innovation by optimizing the structure of human capital. Further analysis of economic consequences shows that fair market competition primarily improves the level of substantive innovation in SOEs, while having limited effects on strategic innovation. This study explores the impact of fair market competition on SOE innovation, and offers policy insights into how constructing a unified national market can foster high-quality economic development through improved competition mechanisms.

     

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