摘要
以2011—2020年我国A股上市公司数据为研究样本,国家“五年规划”中体现的产业政策支持为起点,探究产业政策支持对企业创新策略的影响。研究发现:国家“五年规划”中的产业政策支持能够促进企业创新,其促进作用主要通过政府补助、税收优惠路径传导,而非银行信贷路径;进一步研究表明,政府补助和税收优惠路径下企业创新对企业绩效产生了短期消极影响,但税收优惠和银行信贷路径有助于企业创新对企业长期价值的提升;异质性检验发现,产业政策支持对企业创新的促进效应在国有企业和市场化程度较低的环境中更强。研究拓展了产业政策对微观企业创新策略影响的研究,也为我国“有为政府”完善产业政策实施的外部环境提供了政策依据。
Taking the data of China’s A-share listed companies from 2011 to 2020 as the research samples and taking the industrial policy support embodied in the five-year national plan as the starting point,this paper explores the influence of its industrial policy support on enterprise innovation strategy.It is found that industrial policy support in the national“Five-Year plan”can promote enterprise innovation,and its promotion effect is mainly transmitted through government subsidies and tax incentives rather than bank credit.Further research shows that enterprise innovation under the path of government subsidies and tax incentives has a short-term negative impact on enterprise performance,but tax incentives and bank credit paths help enterprise innovation to enhance the long-term value of enterprises.Heterogeneity test indicates that the promotion effect of industrial policy support on enterprise innovation is stronger in state-owned enterprises and environments with low marketization.This paper expands the research on the influence of industrial policy on micro-enterprise innovation strategy,and also provides a policy basis for China’s“promising government”to improve the external environment for the implementation of industrial policy.
作者
谢香兵
石青梅
XIE Xiangbing;SHI Qingmei(School of Accounting,Henan University of Economics and Law,Zhengzhou 450046,China)
出处
《经济经纬》
CSSCI
北大核心
2023年第3期98-107,共10页
Economic Survey
基金
河南省软科学研究计划项目(202400410386,232400412070)
河南省哲学社会科学规划项目(2022BJJ007)。
关键词
产业政策
企业创新
“五年规划”
税收优惠
政府补助
Industrial Policy
Enterprises Innovation
“Five-Year Plan”
Tax Incentives
Government Subsidies
