银企距离缩短能够促进企业创新吗?——基于金融可得性与研发操纵特征的分析  

Does Shorter Distance Between Banks and Enterprises Promote Enterprise's Innovation?——Analysis Based on Financial Availability and R&D Manipulation

作　　者：钱金娥 俞毛毛 QIAN Jine;YU Maomao(Hubei University of Arts and Science,Xiangyang 441053,China;University of International Business and Economics,Beijing 100029,China)

机构地区：[1]湖北文理学院,湖北襄阳441053 [2]对外经济贸易大学,北京100029

出　　处：《哈尔滨商业大学学报（社会科学版）》2024年第2期63-82,共20页Journal of Harbin University of Commerce:Social Science Edition

基　　金：国家自然科学基金青年项目“贸易自由化与制造业企业储蓄率上升之谜”(71803017)。

摘　　要：选取2011—2018年A股上市公司数据作为研究样本,通过将银行网点坐标数据与上市公司坐标数据进行匹配并计算出银企距离,以此来分析银企距离的缩短对企业研发强度与研发绩效影响,并通过金融可得性与银行竞争性的区分进一步分析银企距离对企业研发行为的影响机制。实证研究发现:首先,银企距离的缩短显著增加了企业研发强度;其次,银企距离的缩短能够显著降低企业面临的融资约束,进而通过金融可得性途径促进企业研发强度的提升,为研发活动提供更多的资金支持;最后,银企距离缩短使得研发投资在扩张的同时造成研发操纵行为,进而使得研发绩效显著下降。通过进一步分析得出,银行种类提升带来的银行业竞争增加,是银企距离对企业研发行为影响的主要途径。In this paper,the data of A-share listed companies from 2011 to 2018 are selected as research samples,and bank-firm distance is calculated by matching the coordinate data of bank branches with the coordinate data of listed companies,so as to analyze the impact of shorter bank-firm distance on firms' R&D intensity and performance,and to distinguish the financial availability from the competitiveness of banks.Furthermore,the influence mechanism of bank-firm distance on firms' R&D behavior is analyzed.The empirical results show that:first,shorter bank-firm distance significantly increases R&D intensity;Secondly,the shortening distance can significantly reduce firm's financial constraints,thus promoting R&D intensity of enterprises through financial availability,and providing more financial support for R&D activities.Thirdly,shorter bank-firm distance leads to a significant decline in R&D performance with the expansion of R&D expenditure.Finally,the increase of banking competition brought by the introduction of different bank kinds is the main way that bank-firm distance affects firms' R&D behavior.

关 键 词：银企距离 研发强度 研发绩效 金融可得性 银行竞争性 

分 类 号：F832.33[经济管理—金融学] F425