Shao Huimin, Jin Qing, Guo Yihang, Zhou Fei, Wider Walton, Lu Liangyan
College of Management, Yunnan Normal University, Kunming, China.
College of Economics, Yunnan Normal University, Kunming, China.
PLoS One. 2025 Apr 8;20(4):e0321388. doi: 10.1371/journal.pone.0321388. eCollection 2025.
Innovation in enterprise development is undoubtedly important. The relationship between its structure and the formation of enterprise innovation factors is at the core, so it is crucial to clarify them. Therefore, based on data on A-share listed companies in China from 2007 to 2022, this paper adopts a multilevel structural equation model to explore the effect of the structure of human capital on enterprise innovation performance. Unlike prior studies, this paper divides innovation performance by enterprises into "substantive innovation" and "strategic innovation." Our results show that human capital plays an important role in promoting both strategic and substantive innovation, which is achieved mainly by increasing technological intensity, investing more in R&D, and receiving more government subsidies. In addition, the heterogeneity test shows that this facilitating role is significant in both samples, divided into the criteria of firm ownership and compensation incentives. However, they have different degrees of influence. This provides empirical support for the response by Chinese enterprises regarding the national development strategy and their new ideas about cultivating high-quality technological innovation and achieving sustainable development.
企业发展中的创新无疑至关重要。其结构与企业创新要素形成之间的关系处于核心地位，因此厘清它们至关重要。因此，基于2007年至2022年中国A股上市公司的数据，本文采用多层次结构方程模型来探究人力资本结构对企业创新绩效的影响。与先前研究不同，本文将企业的创新绩效分为“实质性创新”和“战略性创新”。我们的结果表明，人力资本在促进战略性创新和实质性创新方面均发挥着重要作用，这主要是通过提高技术强度、增加研发投入以及获得更多政府补贴来实现的。此外，异质性检验表明，这种促进作用在按企业所有权和薪酬激励标准划分的两个样本中均显著。然而，它们的影响程度不同。这为中国企业响应国家发展战略以及其关于培育高质量技术创新和实现可持续发展的新思路提供了实证支持。
