无形资本对制造业企业高质量发展的影响效应研究  

Research on the Impact of Intangible Capital on the High-quality Development of Manufacturing Enterprises

作　　者：常西银 孙遇春[1] CHANG Xiyin;SUN Yuchun(School of Economics and Management,Tongji University,Shanghai 200092,China)

机构地区：[1]同济大学经济与管理学院,上海200092

出　　处：《工程管理科技前沿》2024年第1期46-52,共7页Frontiers of Science and Technology of Engineering Management

基　　金：国家自然科学基金资助项目(71941023)。

摘　　要：无形资本作为驱动企业价值创造及增长的核心因素,将逐渐成为推进制造业企业高质量发展的内生驱动力。本文运用Cobb-Douglas生产函数模型,采用2009—2021年制造业上市公司14309个非平衡面板数据,深入探究无形资本对中国制造业企业高质量发展的影响效应。研究发现:(1)总体而言,无形资本对企业高质量发展产生显著激励效应,相比创新资本与组织资本,人力资本与声誉资本更具提升效应;(2)进一步分析发现,人力资本、声誉资本能够通过创新资本对企业高质量发展产生增量效应;(3)企业的不同行业类别、产权性质和规模均对无形资本与企业高质量发展的关系产生明显的异质效应。研究结论不但为内生经济增长理论提供了经验支持,而且为企业高质量发展路径提供了有效证据。Intangible capital,as the core factor to drive enterprise value creation and growth,will gradually become the internal driving force to promote the high-quality development of manufacturing enterprises.This paper applies the Cobb-Douglas production function model,and adoptes the 14309 unbalanced panel data of listed manufacturing companies from 2009 to 2021,to deeply explores the impact of intangible capital on the high-quality development of China's manufacturing enterprises.The results show that:(1)In general,intangible capital has a significant incentive effect on the high-quality development of enterprises.Compared with innovation capital and organizational capital,human capital and reputation capital have a greater promotion effect.(2)Further analysis shows that human capital and reputation capital can have incremental effects on enterprises'high-quality development through innovation capital.(3)Different types,property rights and scales of enterprises have obvious heterogeneous effect on the relationship between intangible capital and high-quality development of enterprises.The research conclusion not only provides empirical support for the endogenous economic growth theory,but also provides effective evidence for the high-quality development path of enterprises.

关 键 词：无形资本 企业高质量发展 内生经济增长理论 异质效应 

分 类 号：F425[经济管理—产业经济]