制度环境对企业R&D投入的影响——基于我国上市公司的经验证据  

The Impact on R&D Expenses of Chinese Listed Company by Institution Environment

作　　者：王立清[1] 杨宝臣[1] 高常水[1] 

机构地区：[1]天津大学管理学院,天津300072

出　　处：《科技进步与对策》2011年第22期79-83,共5页Science & Technology Progress and Policy

基　　金：国务院重大委托课题项目(1760900020);教育部新世纪优秀人才支持计划项目(NCET-08-0397)

摘　　要：如何通过外部制度的安排提高企业的技术创新能力,是制度变迁背景下我国企业面临的核心问题。以2004-2007年我国A股上市公司的R&D投入数据为研究样本,通过多元线性回归模型,实证检验了企业R&D投入与制度环境之间的关系。研究结果表明:市场化指数、法制环境指数、融资环境指数和产品市场环境指数与公司R&D投入水平显著正相关。好的外部制度环境可以促进公司加大R&D投入,进而提高技术创新能力。企业持续提高创新优势的源泉应包含较高的市场化程度、良好的法制和融资环境以及公平的产品市场环境。How to arrange the institution to enhance firm＇s technological innovation capacity is the core problem that Chinese firms have to face in the underground of institutional transaction. This study purposes to examine the link between R＆D expenses in China＇s listed firms and institution environment. Using the samples of listed firms during 2004-- 2007, it finds out that, the market index, legal index, finance index and product market index have positive effect on R＆D expenses of Chinese listed company. That means the good external institution environment could promote the firms to increase R＆D expenses, and enhance the technique creating ability. The high level of market, the source of enterprise continuously improving innovation superiority should include the high level of market, the good legal and finance environment, and the fair product market environment.

关 键 词：R&D投入 制度环境 市场化程度 法制环境 融资环境 产品市场环境 

分 类 号：F403.6[经济管理—产业经济]