外资准入政策与产业政策对企业创新的协同影响研究  

Study on the Synergistic Effect of Foreign Investment Access Policy and Industrial Policy on Corporate Innovation

作　　者：徐雨婧 沈瑶[1] XU Yu-jing;SHEN Yao(School of Economics, Shanghai University, Shanghai 200444, China)

机构地区：[1]上海大学经济学院,上海200444

出　　处：《预测》2021年第4期1-8,共8页Forecasting

基　　金：国家自然科学基金资助项目(71573171)。

摘　　要：现有关于宏观政策如何影响企业创新的研究,主要关注的是单一的政策效应。本文聚焦于政策间的互动关系及其协同作用,以2001~2013年A股上市制造业企业为样本,探究了外资准入政策与产业政策对企业创新的协同影响及内在机理。研究结果表明:第一,相比于单一的政策效果,外资开放与产业政策扶持的政策合力更能促进企业的技术创新。而外资限制与产业政策激励的综合效力却会显著抑制企业的技术创新水平。第二,政策组合下产生的创新促进和抑制效应均主要表现在国有企业组和所在地市场化程度较低组中。第三,外资开放与产业政策扶持会通过缓解企业的融资约束、平抑寻租动机来发挥创新协同作用。The existing research on how macro policies affect corporate innovation mainly focuses on the single policy effect.However,this paper pays attention to the interaction between policies and their synergy.Taking Chinese A-share listed manufacturing corporationsfrom 2001 to 2013 as samples,this paper explores the synergistic effect of foreign investment access policy and industrial policy on corporate innovation and its internal mechanism.The results show that:firstly,compared with the single policy effect,the compound effect of foreign investment opening-up and industrial policy incentives will significantly promote the technological innovation of corporations.However,the joint effect of foreign investment restriction and industrial policy incentives will remarkably inhibit corporate technological innovation;secondly,innovation promotion and inhibition effects resulting from policy mixes are more prominent in the state-owned enterprise group and the group with a lower market-oriented degree;thirdly,the opening-up to foreign investment and industrial policy incentives will play a synergistic role in innovation through channels of easing corporations’financing constraints and suppressing the motivation for rent-seeking.

关 键 词：外资准入政策 产业政策 政策协同 企业创新 

分 类 号：F273.1[经济管理—企业管理]