摘要
本文利用2007—2015年A股上市公司的客户订单数据,从供应链整合的视角系统考察了政府背景大客户采购对企业创新投入的影响。实证结果表明,政府背景大客户采购能够显著提升企业未来的创新研发投入,且民营企业与订单越稳定的样本中这一效应越显著;进一步的作用机制分析还发现,来自政府与国企大客户的采购订单能通过缓解企业面临的融资约束与公司风险来助推创新投入的增长。本文的研究发现有助于理解客户结构对企业创新活动的影响,深化学术界与实务界对政府背景大客户对企业创新活动的促进作用与途径的理解,有利于使政府调节微观经济活动之手更精准。
Relying on government subsidies to promote firms′innovation has always been the norm of Chinese science and technology policy.However,due to lack of supervision,more and more speculative fraudulent acts have occurred,which adverse impacts the effect of government subsidies on enterprise′s technology development.Under the background of economic depression and trade frictions between China and the United States,our nation has begun to adjust its policies and reduce subsidies on a large scale,such as subsidies to new energy vehicles,photovoltaic industries and civil aviation development funds,which indicates that the era of innovation driven by traditional government support has gradually been changed.In this context,it is of a great significance to explore new ways for the government to promote the innovation.Specifically,the report of the Nineteenth National Congress of the Communist Party of China clearly points out that we should constantly enhance our economic innovation and competitiveness,and it also calls for more and better support from the government to promote the development of economy.Therefore,this paper takes key customers with government background as a research target,and tries to explore a new way for government to promote enterprise innovation,which has strong practical and policy significance.Since the promulgation of the Government Procurement Law of the People′s Republic of China in 2003,the scale and impact of government procurement have increased year by year.Different from the traditional government intervention,the procurement of government background customers combines the government′s product demand and policy orientation,so that orders from government might play an important role in enhancing the innovation of enterprises.For example,the huge military orders from the US government stimulate the development of many military enterprises,such as Lockheed Martin Company.However,affected by the western economic theory,the influence of state-owned sectors represented by the government
作者
窦超
李馨子
陈晓
Dou Chao;Li Xinzi;Chen Xiao(Business School,Central University of Finance and Economics,Beijing 100081,China;School of Accountancy,Central University of Finance and Economics,Beijing 100081,China;School of Economics and Management,Tsinghua University,Beijing 100084,China)
出处
《科研管理》
CSSCI
CSCD
北大核心
2020年第9期197-208,共12页
Science Research Management
基金
北京高校高精尖学科“金融安全工程”2020年度应急项目“新冠疫情冲击下的中国金融安全研究”
国家自然科学基金面上项目(71372050,2014.01—2016.12)
教育部人文社会科学研究青年基金项目(20YJC630016,2020.01—2022.12)。
关键词
政府背景客户
创新投入
融资约束
公司风险
government background customer
R&D investment
financial constraint
corporate risk
