Abstract The study uses the U.S. Entity List sanctions as an exogenous shock, employs data from companies listed on the Shanghai and Shenzhen A-share markets, and applies the difference-in-differences (DID) method to examine the impact of the U.S. Entity List sanctions on collaborative innovation among Chinese firms. The results show that the U.S. Entity List sanctions have accelerated the pace of collaborative innovation among Chinese firms. This conclusion remains valid after a series of robustness and endogeneity tests. Mechanism analysis indicates that U.S. entity list sanctions promote collaborative innovation among China companies by reducing corporate risk-taking levels, curbing short-sighted behavior of managers and promoting the establishment of strategic alliances. Further research finds that the positive impact of the U.S. Entity List sanctions on collaborative innovation among Chinese firms exhibits heterogeneity, which is more pronounced in regions where the legal environment is better, where the influence of Confucian culture is stronger, and in firms that have more patient capital and have undergone greater digital transformation. The study not only deepens the research on the economic consequences of the U.S. Entity List sanctions but also broadens the scope of factors influencing corporate collaborative innovation. In turn, it provides valuable references for China to safeguard its technological security and break through technological blockades.
2025, Vol. 42 
