社会信任能够促进企业创新吗?——基于2007~2017年沪深两市A股制造业上市公司数据  

Can Social Trust Promote Enterprise Innovation?——Based on the Data of A-Share Manufacturing Companies Listed in Shanghai and Shenzhen from 2007 to 2017

作　　者：官小燕 刘志彬[2] Guan Xiaoyan;Liu Zhibin

机构地区：[1]南开大学商学院 [2]华北电力大学经济管理系

出　　处：《中国社会科学院研究生院学报》2020年第1期95-110,共16页Journal of Graduate School of Chinese Academy of Social Sciences

摘　　要：本文以2007~2017年沪深两市A股制造业上市公司为研究对象,实证分析了社会信任与企业创新之间的关系。研究发现,企业所处地区的社会信任度越高,企业创新投入和产出越高,社会信任对企业创新具有显著促进作用。在此基础上,进一步分析了社会信任对企业创新的作用机理,结果表明,社会信任可以缓解企业内外部信息不对称,从而降低代理成本和融资约束程度,提高企业创新意愿及获取创新资源的能力。此外,作为非正式制度的社会信任能够在一定程度上弥补正式制度的不足,进而推动企业创新。Based on the data from 2007 to 2017 of A-share manufacturing companies listed in Shanghai and Shenzhen,this paper empirically studies the relationship between social trust and enterprise innovation.It finds that the higher the degree of social trust in the region where the enterprise is located,the higher the input and output of the enterprise innovation,indicating that social trust has a significant role in promoting the level of enterprise innovation.Base on this,the paper further analyzes the action mechanism of social trust on enterprise innovation.Results show that social trust can alleviate the internal and external information asymmetry of enterprises,so as to reduce the agency cost and financing constraints,and to improve enterprises’innovation willingness and ability to obtain innovation resources.At the same time,social trust,as an informal system,can make up for the deficiency of the formal system to some extent,so as to promote enterprise innovation.

关 键 词：社会信任 信息不对称 融资约束 企业创新 

分 类 号：F273.1[经济管理—企业管理]