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This paper aims to examine whether and how ownership structure and corporate governance have bearings on the investment efficiency of Chinese listed firms.

The authors measure the investment efficiency by following the work of Richardson (2006) and classify listed firms into two categories: state-owned enterprises (SOEs) and private firms. OLS regressions with both industry and year fixed effects are used to investigate the effect of ownership structure and governance mechanisms on the listed firms’ investment efficiency.

The authors find that ownership concentration has a negative impact on investment efficiency, and this effect is more pronounced in SOEs than in private firms. In addition, adoption of incentive-based compensation helps improve investment efficiency. Compared with other types of institutional investors, mutual funds are more likely to exert a positive effect on the investment efficiency of investee companies.

This paper examines the monitoring effect of governance mechanisms in China from a new perspective, which is the investment efficiency. Furthermore, previous studies provide minimal evidence indicating any effect of incentive-based compensation on firm performance in China. This study provides empirical evidence on this effect by using incentive-based compensation (whether CEOs have been granted stock options) as an explanatory variable in the regression models.

Recent studies in the accounting literature have investigated the economic consequences of R&D capitalization. Discretionary R&D capitalization for target beating can be characterized as a firm signaling private information on its future economic benefits or as opportunistic earnings management. R&D capitalization also has an impact on a firm’s marginal costs and product market competition. The purpose of this paper is to address how firms choose R&D levels for the purpose of meeting or beating their earnings targets and how this influences sequential product market competition.

The authors study this issue in a stylized game-theoretic model where R&D choices of a firm are not only strategically made but also used to convey proprietary information to its rival. The model provides a rationale for a firm distorting its R&D level to earn more profits and meet its earnings target.

The equilibrium result indicates that before the realization of common cost shock, a firm can influence the output of its accounting system (i.e. meeting an earnings target) through adjusting its R&D choices. This firm will overinvest in R&D, and this will give an opportunity to create some reserves to be used later to earn a higher profit and reach the earnings target.

This paper contributes to the research on real earnings management in terms of how R&D capitalization affects a firm’s R&D choices by influencing the output of its accounting system through adjusting its R&D choices and the strategic impact of those choices.

We analyze the economic consequence of government intervention on the incidence of accounting fraud and audit fees of both Big 4 and local big auditors on Chinese audit market in the period 2006–2013. In 2009, Chinese government issued favorable polices to local big auditors and required certain Chinese companies to give priority to these auditors. We find that market share of Big 4 auditors is quite stable before and after government intervention, but market share of local big auditors increases at the cost of local small auditors after intervention. Although audit fee premiums of both local big and Big 4 auditors have increased after intervention, the positive effect of local big auditors on audit fee premiums has significantly decreased. Further, both Big 4 and local big auditors are not likely to reduce the incidence of accounting fraud in pre- and post-intervention period. Our results suggest that Chinese government support to local auditors does not significantly enhance these auditors’ competitiveness in terms of audit fee and audit quality.

As the university–industry collaboration (UIC) gradually attracts the attention of various national governments, the number of studies on UIC has increased substantially. Past UIC studies have mostly focused on investigating the incentives and the motivation for UIC, forms of UIC and performance output of UIC. However, they have not actively identified the key technologies and technology distribution that are conductive to the commercialization of UIC outcomes. Therefore, this study aims to adopt the licensed UIC patents as the basis for analysis and to construct a patent licensing technology network.

This study focused on licensed patents because past studies have indicated that such patents usually have higher value. Moreover, patent licensing can be seen as the final step for the commercialization of UIC outcomes. Finally, past studies have rarely explored patent examiners’ views on key technologies. However, during the substantive examination of patents, patent examiners often use their background knowledge regarding the technology to include citations to other patented technologies that they consider valuable or indispensable. Therefore, this study focused on investigating the patents recognized and cited by patent examiners and conducted key technology identification.

The results indicated that past key technologies in UIC focused on surveying, medicine, biochemistry and electric digital data processing; these fields are crucial to the commercialization of key UIC technologies. Finally, the USA, Japan, Sweden and Germany play critical roles in the network of global university–industry cooperation and technology licensing.

Patent examiners’ perspectives were adopted to establish a patent licensing technology network, through which the key technologies that could promote UIC patent licensing were mined. This study can also serve as a reference for resource allocation in university research and development and for governments to promote new technologies.

In the current knowledge-based economy era, national innovation ability is crucial. Abundant information can be obtained through patent analysis, and such information can help in the formulation of policies and the making of R&D decisions; numerous researchers thus continue to make patent analyses. The quality of patents possessed by a country indicates the level of innovation and technology in the country, and this study aims to assess the quality of patents possessed by various countries.

In this study, the authors determined patent quality in various countries from the perspective of the reflective measurement model and used a novel method to construct a structural model of patent quality.

This study discovered that patent family, number of claims, number of international patent classifications, forward citations, nonpatent references and maintenance time are the structural factors that affect patent quality. Forward citations and the number of claims are particularly highly explained by patent quality, which is a latent construct.

The results of this study provide valuable information to the government and help in the assessment of patent quality in various countries. In addition, the assessment model proposed in this study can be used in the investigation of patent quality in academic research and can predict patent quality, which will be of interest to the government and industry.

The innovation process demands an interaction between environment agents, knowledge generators and policies of incentive for innovation and not only development by companies. Universities have gradually become the core of the knowledge production system and, therefore, their role regarding innovation has become more important and diversified. This study is aimed at identifying the mechanisms of university–industry (U–I) collaboration, as well as the operationalization steps of the U–I collaboration process.

This study is aimed at identifying, based on a systematic literature review, the mechanisms of university–industry (U–I) collaboration, as well as the operationalization steps of the U–I collaboration process.

The analysis of the 72 selected articles enabled identifying 15 mechanisms of U–I collaboration, proposing a new classification for such mechanisms and developing a framework presenting the operationalization steps of the interaction process.

In this paper, the authors screened nearly 1,500 papers and analyzed in detail 86 papers addressing U–I collaboration, mechanisms of U–I collaboration and operationalization steps of the U–I collaboration process. This paper provides a new classification for such mechanisms and developing a framework presenting the operationalization steps of the interaction process. This research contributes to both theory and practice by highlighting managerial aspects and stimulating academic research on such timely topic.