出口贸易摩擦降低了公司研发投入持续性吗——来自制造业上市公司的经验证据  

Does Export Trade Friction Restrict the Persistence of Firm Research and Development Input?——Evidence from Listed Manufacturing Company

作　　者：李昊洋 沈昊旻 LI Haoyang;SHEN Haomin(School of Economics and Management,University of Science and Technology Beijing,Beijing 100083;School of Economics and Management,Beijing Jiaotong University,Beijing 100044)

机构地区：[1]北京科技大学经济管理学院,北京100083 [2]北京交通大学经济管理学院,北京100044

出　　处：《国际商务（对外经济贸易大学学报）》2021年第2期16-28,共13页INTERNATIONAL BUSINESS

基　　金：国家自然科学基金面上项目“高铁开通、要素流动与公司投资行为研究”(71872010);国家自然科学基金面上项目“企业异质性视角下我国绿色技术创新政策评估研究”(72073009);中央高校基本科研业务费资助项目“中国钢铁工业污染排放驱动因素分析”(FRF-BR-19-004B)。

摘　　要：基于微观企业视角,以2010~2018年制造业上市公司为样本,采用普通最小二乘法实证检验了出口贸易摩擦对公司研发投入持续性的影响。研究发现:出口贸易摩擦显著降低了公司研发投入的持续性,并且这种现象在海外收入比例较高的公司或高科技制造业公司中更为突出,说明出口贸易摩擦增加了微观企业经营成本和经营风险,对其研发活动产生了显著的负面影响。进一步检验发现:出口贸易摩擦对公司研发投入持续性的影响主要存在于研究阶段而非开发阶段,并且出口贸易摩擦导致公司专利申请数量显著减少。From the micro-enterprise perspective,this paper uses the data of listed manufacturing companies from 2010 to 2018,and with least-squares regression model,to empirically test the impact of export trade friction on the persistence of firm R&D input.We find that export trade friction significantly reduces the persistence of firm R&D input,and this effect is more pronounced for companies with high overseas income or in high-tech industries.The results above imply that export trade friction increases the operation cost and risks of enterprises from micro view,so that produces significantly negative effect on R&D.Additional tests show that the impact of export trade friction on the persistence of R&D is more significant in research stage instead of in development stage,and export trade friction significantly declines the firms’patent application.

关 键 词：出口贸易摩擦 研发投入持续性 海外收入 高科技制造业 

分 类 号：F742[经济管理—国际贸易] F275[经济管理—产业经济]