Abstract: Market mechanisms are inefficient in industry-university cooperation because of inability to specific investment in advance and high coordination cost. Drawing on social exchange theory and transaction cost economics, this article provides a conceptual framework to explain why the two sides of the industry-university are most likely to make a deal by the bilateral governance which is constructed jointly by trust and contract. By identifying conditions under which the bilateral governance is effective and efficient, the government role has been made clear. At the end, this article provides some implications to science and technology policy.

摘要： 市场无法解决产学研合作过程中的事前专用性投入和协调成本问题，本文从社会交易的视角分析了产学研双方如何通过信任和契约实现合作以及这种双边治理模式的外部约束条件，在此基础上讨论了政府应该如何介入到产学研双边治理过程，为构建有效率的产学研混合治理模式提供理论依据和管理应用。