{"status":"ok","message-type":"work","message-version":"1.0.0","message":{"indexed":{"date-parts":[[2026,6,29]],"date-time":"2026-06-29T07:48:47Z","timestamp":1782719327889,"version":"3.54.5"},"reference-count":52,"publisher":"Informa UK Limited","issue":"7","license":[{"start":{"date-parts":[[2025,5,17]],"date-time":"2025-05-17T00:00:00Z","timestamp":1747440000000},"content-version":"tdm","delay-in-days":0,"URL":"https:\/\/doi.org\/10.1080\/policies-text-data-mining"}],"content-domain":{"domain":["www.tandfonline.com"],"crossmark-restriction":true},"short-container-title":["Technology Analysis & Strategic Management"],"published-print":{"date-parts":[[2026,7,3]]},"DOI":"10.1080\/09537325.2025.2506128","type":"journal-article","created":{"date-parts":[[2025,5,17]],"date-time":"2025-05-17T09:11:59Z","timestamp":1747473119000},"page":"1147-1162","update-policy":"https:\/\/doi.org\/10.1080\/tandf_crossmark_01","source":"Crossref","is-referenced-by-count":0,"title":["The effects of state-owned strategic investors on ambidextrous innovation in private firms"],"prefix":"10.1080","volume":"38","author":[{"given":"Xin","family":"Wang","sequence":"first","affiliation":[{"name":"Tsinghua University","place":["Beijing, People\u2019s Republic of China"]},{"name":"Tsinghua University","place":["Beijing, People\u2019s Republic of China"]}],"role":[{"vocabulary":"crossref","role":"author"}]},{"given":"Xiying","family":"Zhao","sequence":"additional","affiliation":[{"name":"Beijing Institute of Technology","place":["Beijing, People\u2019s Republic of China"]}],"role":[{"vocabulary":"crossref","role":"author"}]},{"given":"Yanfang","family":"Yu","sequence":"additional","affiliation":[{"name":"Tsinghua University","place":["Beijing, People\u2019s Republic of China"]}],"role":[{"vocabulary":"crossref","role":"author"}]},{"given":"Shenglong","family":"Du","sequence":"additional","affiliation":[{"name":"London Metropolitan University","place":["Singapore, Singapore"]}],"role":[{"vocabulary":"crossref","role":"author"}]}],"member":"301","published-online":{"date-parts":[[2025,5,17]]},"reference":[{"key":"e_1_3_2_2_1","doi-asserted-by":"publisher","DOI":"10.1162\/qjec.2007.122.4.1759"},{"key":"e_1_3_2_3_1","doi-asserted-by":"publisher","DOI":"10.1111\/1540-6261.00567"},{"key":"e_1_3_2_4_1","doi-asserted-by":"publisher","DOI":"10.1016\/j.strueco.2014.08.004"},{"key":"e_1_3_2_5_1","doi-asserted-by":"publisher","DOI":"10.2307\/30040711"},{"key":"e_1_3_2_6_1","doi-asserted-by":"publisher","DOI":"10.1111\/jofi.12073"},{"key":"e_1_3_2_7_1","first-page":"46","article-title":"Government Subsidies, Financial Slack and Ambidextrous Innovation","volume":"1","author":"Bi X. F.","year":"2017","unstructured":"Bi, X. F., S. P. Zhai, and B. Q. Jiang. 2017. \u201cGovernment Subsidies, Financial Slack and Ambidextrous Innovation.\u201d Accounting Research 1:46\u201352, 95.","journal-title":"Accounting Research"},{"key":"e_1_3_2_8_1","doi-asserted-by":"publisher","DOI":"10.1016\/j.jfineco.2012.12.007"},{"key":"e_1_3_2_9_1","doi-asserted-by":"publisher","DOI":"10.5465\/amp.2013.0069"},{"issue":"5","key":"e_1_3_2_10_1","first-page":"137","article-title":"Non-State Shareholder Governance and Executive Compensation Incentives in SOEs","volume":"34","author":"Cai G. L.","year":"2018","unstructured":"Cai, G. L., J. H. Liu, and X. X. Ma. 2018. \u201cNon-State Shareholder Governance and Executive Compensation Incentives in SOEs.\u201d Journal of Management World 34 (5): 137\u2013149.","journal-title":"Journal of Management World"},{"key":"e_1_3_2_11_1","doi-asserted-by":"publisher","DOI":"10.1016\/j.ememar.2020.100699"},{"key":"e_1_3_2_12_1","doi-asserted-by":"publisher","DOI":"10.1016\/j.strueco.2022.05.007"},{"key":"e_1_3_2_13_1","first-page":"96","article-title":"Impact of Product Market Competition on Corporate Cash Flow Risk: Analysis Based on the Competition Degree of Industry and the CompetitivePosition of Enterprise","volume":"3","author":"Chen Z. B.","year":"2015","unstructured":"Chen, Z. B., and S. Y. Wang. 2015. \u201cImpact of Product Market Competition on Corporate Cash Flow Risk: Analysis Based on the Competition Degree of Industry and the CompetitivePosition of Enterprise.\u201d China Industrial Economics 3:96\u2013108.","journal-title":"China Industrial Economics"},{"key":"e_1_3_2_14_1","doi-asserted-by":"publisher","DOI":"10.1016\/j.respol.2011.01.004"},{"key":"e_1_3_2_15_1","doi-asserted-by":"publisher","DOI":"10.1002\/smj.2677"},{"key":"e_1_3_2_16_1","unstructured":"CSRC. 2020a. Issuance Regulation Q&A - Regulatory Requirements on Matters Related to the Introduction of Strategic Investors to Non-public Offerings of Listed Companies."},{"key":"e_1_3_2_17_1","unstructured":"CSRC. 2020b. Rules for the Implementation of Non-Public Offering of Shares by Listed Companies."},{"key":"e_1_3_2_18_1","doi-asserted-by":"publisher","DOI":"10.1093\/scipol\/scac038"},{"key":"e_1_3_2_19_1","doi-asserted-by":"publisher","DOI":"10.1016\/j.techfore.2015.11.018"},{"key":"e_1_3_2_20_1","doi-asserted-by":"publisher","DOI":"10.1093\/rfs\/hhq009"},{"issue":"3","key":"e_1_3_2_21_1","first-page":"122","article-title":"State and Private Non-Controlling Shareholders in SOEs and Private Firms\uff0cand Firm Performance","volume":"52","author":"Hao Y.","year":"2017","unstructured":"Hao, Y., and L. T. Gong. 2017. \u201cState and Private Non-Controlling Shareholders in SOEs and Private Firms\uff0cand Firm Performance.\u201d Economic Research Journal 52 (3): 122\u2013135.","journal-title":"Economic Research Journal"},{"key":"e_1_3_2_22_1","doi-asserted-by":"publisher","DOI":"10.1177\/0001839216657311"},{"key":"e_1_3_2_23_1","doi-asserted-by":"publisher","DOI":"10.5465\/amj.2016.0543"},{"key":"e_1_3_2_24_1","first-page":"120","article-title":"Government Decentralization and State-Owned Enterprise Innovation - A Study Based on the Perspective of Pyramid Structure of Local State-Owned Enterprise","volume":"9","author":"Jiang X. Y.","year":"2016","unstructured":"Jiang, X. Y. 2016. \u201cGovernment Decentralization and State-Owned Enterprise Innovation - A Study Based on the Perspective of Pyramid Structure of Local State-Owned Enterprise.\u201d Journal of Management World 9:120\u2013135.","journal-title":"Journal of Management World"},{"key":"e_1_3_2_25_1","doi-asserted-by":"publisher","DOI":"10.1016\/j.respol.2025.105216"},{"key":"e_1_3_2_26_1","doi-asserted-by":"publisher","DOI":"10.1111\/0022-1082.00115"},{"key":"e_1_3_2_27_1","doi-asserted-by":"publisher","DOI":"10.5465\/amj.2012.1067"},{"issue":"6","key":"e_1_3_2_28_1","first-page":"30","article-title":"Corporate Social Responsibility, Political Relationship and Debt Financing of Private Enterprises: Evidence from Chinese Capital Market","volume":"17","author":"Li S.","year":"2014","unstructured":"Li, S., and X. Y. Xie. 2014. \u201cCorporate Social Responsibility, Political Relationship and Debt Financing of Private Enterprises: Evidence from Chinese Capital Market.\u201d Nankai Business Review 17 (6): 30\u201340, 95.","journal-title":"Nankai Business Review"},{"key":"e_1_3_2_29_1","first-page":"127","article-title":"Political Connection of Private Firm, Number of Employees and Labor Cost","volume":"10","author":"Liang L. X.","year":"2010","unstructured":"Liang, L. X., and Y. C. Feng. 2010. \u201cPolitical Connection of Private Firm, Number of Employees and Labor Cost.\u201d China Industrial Economics 10:127\u2013137.","journal-title":"China Industrial Economics"},{"key":"e_1_3_2_30_1","doi-asserted-by":"publisher","DOI":"10.1016\/j.jdeveco.2009.04.006"},{"key":"e_1_3_2_31_1","doi-asserted-by":"publisher","DOI":"10.1016\/j.respol.2016.09.014"},{"key":"e_1_3_2_32_1","first-page":"174","article-title":"Research on the Influence of State-Owned Equity Participation on Family Firms\u2019 Innovation Investment","volume":"7","author":"Luo H.","year":"2019","unstructured":"Luo, H., and J. D. Qin. 2019. \u201cResearch on the Influence of State-Owned Equity Participation on Family Firms\u2019 Innovation Investment.\u201d China Industrial Economics 7:174\u2013192.","journal-title":"China Industrial Economics"},{"issue":"01","key":"e_1_3_2_33_1","first-page":"85","article-title":"One-way Mixed Reform\u2019 or \u2018Two-way Mixed Reform'? The Effect of the Mixed Ownership Reform on the Private Enterprise Innovation","volume":"45","author":"Mao N.","year":"2023","unstructured":"Mao, N., Y. J. Yang, and Z. F. Yin. 2023. \u201cOne-way Mixed Reform\u2019 or \u2018Two-way Mixed Reform'? The Effect of the Mixed Ownership Reform on the Private Enterprise Innovation.\u201d Business and Management Journal 45 (01): 85\u2013104.","journal-title":"Business and Management Journal"},{"issue":"10","key":"e_1_3_2_34_1","first-page":"4","article-title":"Mixed Ownership Reform and Investment Efficiency of Private Enterprises","volume":"39","author":"Mo X. D.","year":"2020","unstructured":"Mo, X. D. 2020. \u201cMixed Ownership Reform and Investment Efficiency of Private Enterprises.\u201d Review of Investment Studies 39 (10): 4\u201319.","journal-title":"Review of Investment Studies"},{"key":"e_1_3_2_35_1","doi-asserted-by":"publisher","DOI":"10.1002\/bse.2358"},{"issue":"3","key":"e_1_3_2_36_1","first-page":"139","article-title":"The Existence of Non-State-owned Strategic Investors and the Control Level of Non-state-Owned Major Shareholders: Evidence from Locally Competitive Listed State-Owned Enterprises","volume":"25","author":"Pan K. Q.","year":"2022","unstructured":"Pan, K. Q., Y. F. Li, and X. Y. Pan. 2022. \u201cThe Existence of Non-State-owned Strategic Investors and the Control Level of Non-state-Owned Major Shareholders: Evidence from Locally Competitive Listed State-Owned Enterprises.\u201d Nankai Business Review 25 (3): 139\u2013150.","journal-title":"Nankai Business Review"},{"issue":"01","key":"e_1_3_2_37_1","first-page":"134","article-title":"Can Mixed Ownership of Private Enterprises Promote the Real Business Entities to Return to the Real from the Virtual","volume":"26","author":"Qian A. M.","year":"2021","unstructured":"Qian, A. M., C. T. Wu, and D. P. Zhu. 2021. \u201cCan Mixed Ownership of Private Enterprises Promote the Real Business Entities to Return to the Real from the Virtual.\u201d Nankai Business Review 26 (01): 134\u2013147.","journal-title":"Nankai Business Review"},{"issue":"11","key":"e_1_3_2_38_1","first-page":"121","article-title":"Business Performance of State-Owned Enterprises Implementing Employee Stock Ownership Plans: Incentive Compatibility or Incentive Deficiency","volume":"34","author":"Shen H. B.","year":"2018","unstructured":"Shen, H. B., L. H. Hua, and J. J. Xu. 2018. \u201cBusiness Performance of State-Owned Enterprises Implementing Employee Stock Ownership Plans: Incentive Compatibility or Incentive Deficiency.\u201d Journal of Management World 34 (11): 121\u2013133.","journal-title":"Journal of Management World"},{"key":"e_1_3_2_39_1","doi-asserted-by":"publisher","DOI":"10.1080\/1540496X.2015.1097920"},{"key":"e_1_3_2_40_1","doi-asserted-by":"publisher","DOI":"10.1016\/j.ribaf.2018.03.002"},{"issue":"08","key":"e_1_3_2_41_1","first-page":"91","article-title":"A Study of the Impact of Introducing Strategic Investors on Corporate Innovation","volume":"40","author":"Wang X. Y.","year":"2021","unstructured":"Wang, X. Y., and Q. Gao. 2021. \u201cA Study of the Impact of Introducing Strategic Investors on Corporate Innovation.\u201d Review of Investment Studies 40 (08): 91\u2013109.","journal-title":"Review of Investment Studies"},{"key":"e_1_3_2_42_1","volume-title":"Marketization Index of China's Provinces: Neri Report 2021","author":"Wang X. L.","year":"2021","unstructured":"Wang, X. L., L. P. Hu, and G. Fan. 2021. Marketization Index of China's Provinces: Neri Report 2021. Beijing: Social Sciences Academic Press (China)."},{"key":"e_1_3_2_43_1","doi-asserted-by":"publisher","DOI":"10.3724\/SP.J.1042.2014.00731"},{"key":"e_1_3_2_44_1","doi-asserted-by":"publisher","DOI":"10.1093\/rfs\/hhj012"},{"key":"e_1_3_2_45_1","first-page":"121","article-title":"Financial Efficiency, Product Market Competition and Ambidextrous Innovation \u2014Empirical Analysis Based on Listed Companies in China","volume":"12","author":"Wu Y. L.","year":"2021","unstructured":"Wu, Y. L., and S. L. Huang. 2021. \u201cFinancial Efficiency, Product Market Competition and Ambidextrous Innovation \u2014Empirical Analysis Based on Listed Companies in China.\u201d Accounting Research 12:121\u2013135.","journal-title":"Accounting Research"},{"issue":"09","key":"e_1_3_2_46_1","first-page":"1295","article-title":"Effects of IT Competency on Organizational Resilience","volume":"20","author":"Xie L. Q.","year":"2023","unstructured":"Xie, L. Q., J. S. Qian, and Q. Wang. 2023. \u201cEffects of IT Competency on Organizational Resilience.\u201d Chinese Journal of Management 20 (09): 1295\u20131302.","journal-title":"Chinese Journal of Management"},{"issue":"8","key":"e_1_3_2_47_1","first-page":"140","article-title":"Do Institutions Mitigate the Negative Effect of Social Conflict on Enterprises\u2019 Risk-Taking?","volume":"52","author":"Yang R. L.","year":"2017","unstructured":"Yang, R. L., Y. R. Zhang, and J. D. Yang. 2017. \u201cDo Institutions Mitigate the Negative Effect of Social Conflict on Enterprises\u2019 Risk-Taking?\u201d Economic Research Journal 52 (8): 140\u2013154.","journal-title":"Economic Research Journal"},{"issue":"6","key":"e_1_3_2_48_1","first-page":"20","article-title":"Can State Ownership Promote the Technological Innovation of Private Enterprises? Empirical Evidence from Chinese Listed Companies","volume":"23","author":"Yu H.","year":"2021","unstructured":"Yu, H., C. J. Song, and Z. J. Song. 2021. \u201cCan State Ownership Promote the Technological Innovation of Private Enterprises? Empirical Evidence from Chinese Listed Companies.\u201d Journal of Shanghai University of Finance and Economics 23 (6): 20\u201334.","journal-title":"Journal of Shanghai University of Finance and Economics"},{"issue":"4","key":"e_1_3_2_49_1","first-page":"196","article-title":"State Ownership, Political Connections\uff0cand Corporate Performance: A Research Based on Chinese Private-Controlled Listed Firms","volume":"29","author":"Yu H.","year":"2017","unstructured":"Yu, H., Z. L. Yang, and Z. J. Song. 2017. \u201cState Ownership, Political Connections\uff0cand Corporate Performance: A Research Based on Chinese Private-Controlled Listed Firms.\u201d Management Review 29 (4): 196\u2013212.","journal-title":"Management Review"},{"key":"e_1_3_2_50_1","doi-asserted-by":"publisher","DOI":"10.1016\/j.econmod.2018.12.010"},{"key":"e_1_3_2_51_1","first-page":"623","article-title":"Firm Size and Innovation: Evidence from China's Province-Level Data","volume":"2","author":"Zhou L. A.","year":"2005","unstructured":"Zhou, L. A., and K. Luo. 2005. \u201cFirm Size and Innovation: Evidence from China's Province-Level Data.\u201d China Economic Quarterly 2:623\u2013638.","journal-title":"China Economic Quarterly"},{"issue":"6","key":"e_1_3_2_52_1","first-page":"147","article-title":"Government Support and Development of Emerging Industries \u2014 A New Energy Industry Survey","volume":"50","author":"Zhou Y. H.","year":"2015","unstructured":"Zhou, Y. H., Y. L. Pu, S. Y. Chen, and F. Fang. 2015. \u201cGovernment Support and Development of Emerging Industries \u2014 A New Energy Industry Survey.\u201d Economic Research Journal 50 (6): 147\u2013161.","journal-title":"Economic Research Journal"},{"issue":"9","key":"e_1_3_2_53_1","first-page":"78","article-title":"Knowledge Governance, Learning from Failure, Low Cost Exploitative Innovation and Low Cost Exploratory Innovation","volume":"35","author":"Zhu X. C.","year":"2014","unstructured":"Zhu, X. C., and W. M. Chen. 2014. \u201cKnowledge Governance, Learning from Failure, Low Cost Exploitative Innovation and Low Cost Exploratory Innovation.\u201d Science of Science and Management of S&T 35 (9): 78\u201386.","journal-title":"Science of Science and Management of S&T"}],"container-title":["Technology Analysis & Strategic Management"],"original-title":[],"language":"en","link":[{"URL":"https:\/\/www.tandfonline.com\/doi\/pdf\/10.1080\/09537325.2025.2506128","content-type":"application\/pdf","content-version":"vor","intended-application":"text-mining"},{"URL":"https:\/\/www.tandfonline.com\/doi\/full-xml\/10.1080\/09537325.2025.2506128","content-type":"application\/xml","content-version":"vor","intended-application":"text-mining"},{"URL":"https:\/\/www.tandfonline.com\/doi\/pdf\/10.1080\/09537325.2025.2506128","content-type":"unspecified","content-version":"vor","intended-application":"similarity-checking"}],"deposited":{"date-parts":[[2026,6,29]],"date-time":"2026-06-29T07:34:51Z","timestamp":1782718491000},"score":1,"resource":{"primary":{"URL":"https:\/\/www.tandfonline.com\/doi\/full\/10.1080\/09537325.2025.2506128"}},"subtitle":[],"short-title":[],"issued":{"date-parts":[[2025,5,17]]},"references-count":52,"journal-issue":{"issue":"7","published-print":{"date-parts":[[2026,7,3]]}},"alternative-id":["10.1080\/09537325.2025.2506128"],"URL":"https:\/\/doi.org\/10.1080\/09537325.2025.2506128","relation":{},"ISSN":["0953-7325","1465-3990"],"issn-type":[{"value":"0953-7325","type":"print"},{"value":"1465-3990","type":"electronic"}],"subject":[],"published":{"date-parts":[[2025,5,17]]},"assertion":[{"value":"The publishing and review policy for this title is described in its Aims & Scope.","order":1,"name":"peerreview_statement","label":"Peer Review Statement"},{"value":"http:\/\/www.tandfonline.com\/action\/journalInformation?show=aimsScope&journalCode=ctas20","URL":"http:\/\/www.tandfonline.com\/action\/journalInformation?show=aimsScope&journalCode=ctas20","order":2,"name":"aims_and_scope_url","label":"Aim & Scope"},{"value":"2024-11-13","order":0,"name":"received","label":"Received","group":{"name":"publication_history","label":"Publication History"}},{"value":"2025-04-10","order":1,"name":"revised","label":"Revised","group":{"name":"publication_history","label":"Publication History"}},{"value":"2025-05-09","order":2,"name":"accepted","label":"Accepted","group":{"name":"publication_history","label":"Publication History"}},{"value":"2025-05-17","order":3,"name":"published","label":"Published","group":{"name":"publication_history","label":"Publication History"}}]}}