经济政策不确定性与科技企业生产性活动配置——基于企业生命周期视角  

Economic Policy Uncertainty and Productive Activity Allocation of Sci-tech Enterprises:From a Perspective of Enterprise Life Cycle

作　　者：王琼 侯美婷 王成园[2] WANG Qiong;HOU Meiting;WANG Chengyuan(School of Economics,Hefei University of Technology,Hefei 230601,China;School of Management,University of Science and Technology of China,Hefei 230026,China)

机构地区：[1]合肥工业大学经济学院,安徽合肥230601 [2]中国科学技术大学管理学院,安徽合肥230026

出　　处：《华东经济管理》2023年第2期92-102,共11页East China Economic Management

基　　金：国家自然科学基金青年科学基金项目“科技企业家注意力的动态配置及其对企业创新绩效的影响研究:两种时间窗口的触发作用”(71804040);“考虑管理者主动风险承担行为的锦标机制设计及应用研究”(71701193);中央高校基本科研业务费专项资金项目“企业薪酬分布对员工欺诈行为的影响研究”(WK2040000020)。

摘　　要：文章基于企业家活动配置理论及科技企业的独特性,将科技企业生产性活动划分为技术导向和市场导向两类,实证检验经济政策不确定性对上述活动配置的影响,并考察该影响随企业生命周期演变而呈现的动态规律。结果表明:经济政策不确定性对两种导向型活动都有正向影响,其中,经济政策不确定性上升时,成长期的科技企业会显著增加技术导向型活动,成熟期的科技企业在两类活动上都会加大投入,而衰退期的企业则更倾向于增加市场导向型活动投入;进一步研究发现,该规律显著存在于非国有企业,国有企业对经济政策不确定性则反应不灵敏。Based on the theory of entrepreneurial activity allocation and the uniqueness of science and technology enterprises,this paper divides the productive activities of science and technology enterprises into two categories:technology oriented and market oriented,empirically tests the impact of economic policy uncertainty on the above activity allocation,and examines the dynamic law of the impact as the enterprise life cycle evolves.The results show that the uncertainty of economic policy has a positive impact on both types of oriented activities.When the uncertainty of economic policy rises,the growing technology enterprises significantly increase their technology oriented activities.The mature technology enterprises increase their investment in both types of activities,while the enterprises in the recession are more inclined to increase their market oriented activities;further research shows that this law exists significantly in non-state-owned enterprises,while state-owned enterprises are insensitive to the uncertainty of economic policies.

关 键 词：经济政策不确定性 科技企业 技术导向型活动 市场导向型活动 企业生命周期 

分 类 号：F276.44[经济管理—企业管理]