融资约束、出口与中国本土企业创新:机理与实证  

Credit Constraints,Exports and Firms' Innovation Decision:Evidence from Chinese Local Firms

作　　者：赵伟[1] 韩媛媛[1] 赵金亮[2] 

机构地区：[1]浙江大学经济学院,浙江杭州310027 [2]中国建设银行厦门市分行,福建厦门361001

出　　处：《当代经济科学》2012年第6期98-108,126,共11页Modern Economic Science

基　　金：2011年国家社科基金重点研究项目(11AJL010)

摘　　要：本文从微观视野切入,实证分析了融资约束、出口等因素对中国本土企业创新决策的影响,并将国有和民营企业进行了对比分析。结论表明,融资约束、出口等对企业创新均具有显著影响。其中:(1)较易得到外部融资或外部融资能力较强的企业更容易去创新;(2)出口参与对企业创新有显著的正向影响;(3)在出口的企业中,外部融资对国企的创新影响并不显著,而对民企却表现出显著的促进作用。因此,政府在鼓励企业"走出去"的同时,要致力于改善广大民企的融资环境,增强其自主创新能力,加快企业转型升级步伐。This paper empirically examines the impact of credit constraints,export and other factors on innovation decisions of Chinese local firms and gives comparison analysis between state owned firms and private firms.The results show that credit constraints and export have significant positive impacts on firms' innovation decisions as follows:(1) firms which can easily get external funds tend to be innovative;(2) export participation increases firms'innovation propensity significantly;(3) among exporters,external finance has insignificant impact on state-owned firms but significant positive impact on private ones.Thus the government should encourage firms go international and improve financial environment and innovation ability for private firms to speed up the pace of firms' transformation and upgrading.

关 键 词：融资约束 出口 本土企业 创新决策 

分 类 号：F752.62[经济管理—国际贸易] F273.1[经济管理—产业经济] F224