创新网络双重嵌入、网络耦合与产业升级：基于上市企业面板数据的实证分析

创新网络多元嵌入是企业网络能力形成和产业升级的重要驱动力。基于网络双重嵌入和网络耦合视角，选取2009-2020年291家中国平板显示产业上市公司作为研究样本，实证分析企业个体创新网络与股东关系网络双重嵌入及企业个体创新能力对产业升级的作用路径。结果表明，企业个体创新网络连通性与网络团体规模、股东关系网络密度及企业创新能力均正向影响产业升级，并且由于企业管理者与投资者间的创新决策冲突给产业升级带来负面影响，企业间网络连通性和企业个体研发投入在股东间过于紧密的关系影响下反而不利于产业升级。进一步研究表明，产业升级是综合企业个体创新、企业间创新合作和企业投资者合作等多个层次的多维度动态过程，降低数字创新不确定性和有效利用网络化创新合作机制将是产业数字创新的重要研究方向。

Innovation Network's Dual Embeddedness,Network Coupling and Industry Upgrading:An Empirical Analysis Based on the Panel Data of Listed Companies

In the background of global digital innovation, value creating model in traditional products and services is undergoing change. In order to reduce the risk brought by technical uncertainty, innovators and investors of emerging industries tend to focus on mature industry areas and reduce risk by joint investment on technology innovation process or dual innovation strategies.Therefore, innovation decisions based on firms' managers exist at the same time in the innovation cooperation network between firms and the relationship network based on joint investment between shareholders, that is, the dual embedding of innovation network.In the industrial innovation network composed of industrial technological innovation actors, the heterogeneous resource endowment owned by different actors is the internal power that determines the formation, development and evolution of the network community structure and potential technological track formed by the cooperation between actors.Based on the impact analysis of individual characteristics of innovation and other individual-level elements on the overall transformation and upgrading of the industry, it can be seen that technological innovation in the flat panel display industry is intensive, and most firms are cross-field innovators.The high correlation between industrial technologies makes it more difficult to integrate new technologies into the existing technological system. Therefore, the dual network embedding will make the innovation cooperation closer, and the relationship between firms and shareholders will produce coupling, jointly affecting the innovation and development of the industry. This paper attempts to reveal the complex and dynamic mechanism of how individual-level industrial network affect industrial innovation and upgrading and provide references for multiple innovation embedding research.In this paper, the panel data model of 291 listed companies in the flat panel display industry from 2009 to 2020 is constructed to empirically analyze the impact of innovation network factors on industrial development in industry upgrading from the perspective of dual network embedding.In order to increase the coverage and representativeness of firm samples, this paper chooses the representative flat panel display industry in the field of electronic information. As a basic and integrated and spanning industry, it includes multiple new generation information technology fields, and its technological innovation and technological evolution conform to borderless and modular characteristics of digital innovation.Considering that the Growth Enterprise Market in China was established in 2009, and the rapid development of China's flat panel display industry began in 2009 (it entered the period of rapid development after 2010 according to the comprehensive trend of technology and market development), the time range of sample data selection is set from 2009 to 2020.The patent data of sample firms were retrieved from Derwent Innovations Index database, and the adjacent matrix of innovation cooperation between firms from 2009 to 2020 was constructed based on patent cooperation application and Matlab software programming. Meanwhile, the data of top ten shareholders of 291 firms by shareholding was extracted from Wind database, and the shareholder relationship network was constructed based on joint investment behaviors.With the data of innovation network embedding and industry upgrading, the negative binomial regression model is used to test the theoretical hypothesis.It is found that the connectivity and community scale of companies' individual innovative network, density of stockholders’ relation network and companies’ innovative capability have positive impacts on industry upgrading. Because of the negative influence of innovation decision conflict between manager and investor on industry upgrading, the network connectivity and companies’ R&D investment will be unfavorable for industry upgrading under the influence of overly dense relations between stockholders. The research results also show that the industry upgrading is a dynamics process including multiple dimensions comprised of companies’ individual innovation, innovative collaboration between firms and investors. Further research shall be focused on how to reduce the uncertainty of digital innovation and make effective use of the networked and innovation collaboration mechanism.