  This study adopts the fixed effects panel model and provincial panel data on
anticorruption and the innovation efficiency of high-level technology and new
technology enterprises in China from 2005 to 2014, to estimate the effects of
the anticorruption movement on the innovation efficiency of enterprises at
different corruption levels. The empirical results show that anticorruption is
positively correlated with the innovation efficiency of enterprises; however,
the correlation is differentiated according to different corruption levels and
business natures. At a high level of corruption, anticorruption has positive
impacts on enterprises' innovation; at a low level of corruption, it negatively
affects innovation efficiency. However, anticorruption has negative effects on
the innovation efficiency of state-owned enterprises at both high and low
corruption levels; for nonstate-owned enterprises, its effects are positive at
a high corruption level and negative at a low corruption level. The effects
remain the same across different regions.
