“金融结构—技术创新能力”匹配度与[]企业出口产品质量提升  

The Effect of the Matching Degree between Financial Structure and Technological Innovation Capability on the Export Product Quality

作　　者：王昱 陈钰清 郎香香 逯宇铎 WANG Yu;CHEN Yuqing;LANG Xiangxiang;LU Yuduo(School of Business, Dalian University of Technology, Dalian 116024, China)

机构地区：[1]大连理工大学商学院,辽宁大连116024

出　　处：《大连理工大学学报（社会科学版）》2021年第6期47-59,共13页Journal of Dalian University of Technology(Social Sciences)

基　　金：国家社会科学基金青年项目“互联网金融发展下金融部门与企业R&D投资的技术选择协同机制研究”(19CJL032);中国博士后科学基金项目“互联网+下金融发展促进企业研发投资的边界及技术选择协同:功能观视角”(2020M680958)。

摘　　要：如何使金融发展更好地服务于出口产品质量提升,是我国向“贸易强国”转变的关键。通过残差比较法构建“金融结构—技术创新能力”匹配度,结合中国工业企业、海关贸易企业匹配的大样本微观数据测算出口产品质量,实证分析发现:“金融结构—技术创新能力”匹配度越高,地区技术创新能力越强,金融结构越需由银行主导型转变为市场主导型,且越能有效提升企业出口产品质量;优化“金融结构—技术创新能力”匹配度,主要通过提高出口企业的全要素生产率和缓解出口企业融资约束两条传导途径推动产品质量提升;“金融结构—技术创新能力”匹配度对不同技术水平、不同规模出口企业产品质量的影响存在差异,对高技术、低技术和小型企业的出口产品质量提升效果显著;随着产品质量水平提升,“金融结构—技术创新能力”匹配度对产品质量的提升效果逐渐减弱,且存在双门槛值0.4984和0.5934。同时发现,我国应由单纯金融规模扩张逐渐转变到基于技术创新提升金融结构实现提升出口产品质量目标。How to make financial development better serve the improvement of export product quality is the key to China’s transformation into a“strong trade nation”.This paper builds a matching model to link“financial structure-totechnological innovation ability”through the residual comparison method,and combines the quality of export products measured by large samples of micro data from Chinese industrial enterprises and customs trading enterprises.The empirical test results are shown as follows.The increase in the matching degree between financial structure and-technological innovation capability means that the stronger the regional technological innovation capability is,the more the financial structure needs to be changed from bank-led to market-led system.And the higher matching degree of“financial structure-technological innovation capability”would improve the quality of export products more effectively.There are two channels for the impact of the matching degree of“financial structure-technological innovation capability”to be transmitted on to the quality of export products.One is by increasing the total factor productivity of export enterprises.The second is to ease the financing constraints of export enterprises.Improving the matching degree of“financial structure-technological innovation capability”has different effects on the product quality of enterprises with different technical levels and scales,If has a significant effect on the improvement of the export product quality of high-tech,low-tech and small enterprises.With the improvement of product quality,the effect of the matching degree of“financial structure-technological innovation capability”on export product quality gradually declines,and there are obviously by double thresholds of product quality,0.4984 and 0.5934.

关 键 词：金融结构—技术创新能力匹配度 出口产品质量 最优金融结构 

分 类 号：F832.5[经济管理—金融学]