摘要
本文基于2005~2007年中国工业企业数据,构建循环结构联立方程模型,探究融资约束视角下出口和创新对民营企业自生能力的影响;结果表明,民营企业出口和创新是提高其自生能力的直接有效途径,出口和创新与企业自生能力间存在显著的自我加强效应;融资约束缓解虽然不能直接作用于企业自生能力提升,但通过出口和创新路径间接地促进了企业自生能力的提升,融资约束缓解与出口和创新间也存在自我加强效应。由于企业自生能力提升对企业创新的影响系数显著且四倍于对企业出口的影响,因此,提升民营企业自生能力具有重大现实意义。为此,需要在制度上保证不同所有制企业依法平等地使用生产要素。
Using the data of China＇s industrial firms from 2005 to 2007, this paper constructs a cyclic-structured simultaneous equations model to explore the effects of export and innovation on private enterprises＇ viability from the per- spective of financing constraints. The findings show that for private enterprises, enhancing their export and innovation capabilities is a direct and efficient way to improve their viability and there is a significant self-reinforcing effect between the viability and export as well as innovation. Although the easing of financing constraints cannot immediately act on the enterprises＇ viability, it can indirectly promote viability through export and innovation, and there also exists a self-rein- forcing effect between the easing of financing constraints and export as well as innovation. The influential coefficient of improvement of enterprises＇ viability on innovation is significant and quadruples its effect on enterprises＇ export. There- fore, it is of great practical significance to improve private enterprises＇ viability. To this end, there should be a systematic guarantee that production factors are used legally and coequally by different ownership enterprises.
基金
教育部人文社科规划基金项目
"三维视角下推动出口企业创新的路径研究"(13YJA790146)
"面向出口企业创新的公司治理研究"(13YJA630133)的阶段性成果
关键词
自生能力
出口
创新
融资约束
自我加强效应
Viability
Export
Innovation
Financing constraints
Self-reinforc- ing effect
