The Choice of Cooperative Governance Mechanism in Open Innovation Projects under the Synergy of the Electricity-Carbon Market

Improving the level of cooperative governance of open innovation projects is a key bridge and powerful starting point for promoting the full integration and coordinated development of different market systems. Against the background of the synergy of the electricity-carbon market, this study explores how a company chooses a cooperative governance mechanism and the implementation effects of governance mechanisms. The results, based on the sample data from 175 OIPs of companies in China, show that the collaborative dependence of a company promotes the implementation of relational governance; however, it has no significant effect on contract control. Meanwhile, both relational governance and contract control have significant positive effects on knowledge transfer and cooperative performance. Moreover, knowledge transfer plays a mediating role in relational governance, contract control, and cooperative performance. The conclusion enriches the understanding of cooperative governance mechanisms, which has important implications for management research and the practice of open innovation projects. It also has certain practical significance for helping the power industry to achieve the goal of carbon neutrality.