经济周期、行业周期性与企业技术创新——基于上市公司经验数据  

Business Cycles,Industry Periodicity and Technological Innovation——Based on the Data of China's Listed Companies

作　　者：贾明琪[1] 严燕[1] 辛江龙[1] 

机构地区：[1]兰州大学管理学院,兰州730000

出　　处：《商业研究》2015年第9期34-40,共7页Commercial Research

摘　　要：本文以中国第十轮经济周期和上市公司所处的行业周期为背景,利用224家上市公司2 464个样本数据,实证检验了2000-2010年宏观经济环境和行业周期性对公司技术创新水平的影响。研究结果显示:相对经济繁荣时期,上市公司在经济衰退时期具有更高的技术创新水平;相对非周期性行业,上市公司在周期性行业具有更高的技术创新水平;技术创新水平在经济紧缩期高于扩张期是由于周期性行业公司所导致的;国有上市公司由于融资易得性较民营上市公司有更高的技术创新水平,政府应选择经济萧条期对民营企业提供研发补贴和税收优惠以弥补其研发资金的不足,提高其技术创新水平。Based on the 10 th round of business cycle and the cyclical industries of listed company,and using the 2464 sample data in 224 listed companies,this essay examines the impact of macroeconomic environment and industry periodicity on the enterprise technology innovation from 2000 to 2010. The results show that compared with economic booms,the listed companies have a higher level of technological innovation in recessionary times; compared with the non- cyclical industries,the listed companies have a higher level of technological innovation in industry periodicity; that technological innovation in the economic contraction is higher is due to the industry periodicity; that the state- owned listed companies have a higher level of technological innovation than that of private listed companies is due to the availability of financing,so the government should choose economic recession to provide subsidies and tax breaks in order to make up for the inadequacy of enterprise research and development,and improve the level of technological innovation of private enterprises.

关 键 词：经济周期 行业周期性 技术创新 

分 类 号：F27[经济管理—企业管理]