亲清政商关系会影响企业创新吗——来自中国上市公司的经验证据  

Will the Intimate and Clean Relationship between Politics and Business Affect Corporate Innovations? Empirical Evidences from China’s Listed Companies

作　　者：管考磊[1] GUAN Kao-lei(Jiangxi University of Finance and Economics, Nanchang 330013, China)

机构地区：[1]江西财经大学会计发展研究中心/会计学院

出　　处：《当代财经》2019年第6期130-140,F0003,共12页Contemporary Finance and Economics

基　　金：国家自然科学基金项目“发审委审核质量研究:评价、影响因素与问责机制”(71862015);国家自然科学基金项目“企业高管侵占型职务犯罪对企业价值的影响研究”(71562014);江西省高校人文社会科学研究项目“法律机制、声誉机制与企业应计和真实盈余管理”(GL17210)

摘　　要：利用政商关系健康指数和2013-2017年间中国上市公司数据,实证分析了亲清政商关系对企业创新的影响。研究发现:亲清政商关系能促进企业创新。进一步研究发现:企业的产权性质和所处行业不同,亲清政商关系对企业创新的影响也不同;亲清政商关系是通过增加企业银行贷款、政府补助、税收优惠和降低企业寻租成本四个作用机制促进企业创新的。研究结论对促进企业创新提供了一个新的思路。By making use of the health index of the political-business relationship and the data of China's listed companies from 2013 to 2017, the paper makes an empirical analysis of the influence of the intimate and clean relationship between politics and business on corporate innovation. The findings show that the intimate and clean relationship between politics and business can promote enterprise innovation. The results of the further research indicate that the intimate and clean relationship between politics and business will have different impacts on corporate innovations, if the enterprises have different nature of property rights and belong to different industry. The intimate and clean relationship between politics and business can promote corporate innovation through the four mechanisms, i.e., increasing corporate bank loans, government subsidies, tax incentives and reducing rent-seeking costs. The research conclusions provide a new idea for promoting enterprise innovation.

关 键 词：亲清政商关系 企业创新 银行贷款 寻租成本 

分 类 号：F272.3[经济管理—企业管理]