外资安全审查与中国高技术企业自主创新  

Foreign Investment Security Review and Self-reliance and Innovation of China’s High-tech Enterprises:Evidence from the FIRRMA

作　　者：苏杭 王晨宇 刘佳雯 SU Hang;WANG Chenyu;LIU Jiawen(Institute of Liaoning Dalian Free Trade Zone,Dongbei University of Finance and Economics;College of International Economics and Trade,Dongbei University of Finance and Economics)

机构地区：[1]东北财经大学辽宁(大连)自贸区研究院 [2]东北财经大学国际经济贸易学院

出　　处：《数量经济技术经济研究》2024年第9期134-154,共21页Journal of Quantitative & Technological Economics

基　　金：国家社会科学基金后期资助项目(22FGJB003);国家社会科学基金重大项目(23&ZD048)的资助。

摘　　要：近年来,外资安全审查成为西方发达国家遏制中国高技术企业创新发展的重要手段,面对安全审查导致的技术封锁,中国高技术企业只有走好自主创新这步棋,才能赢得全球科技竞争主动权。为此,本文基于大国战略竞争背景,使用双重差分方法,尝试探究了以美国FIRRMA为代表的外资安全审查对中国高技术企业创新发展的影响及其作用机制,并利用2010~2021年中国A股上市公司的数据展开检验。研究发现,外资安全审查倒逼了中国高技术企业的自主创新,且这种“倒逼作用”对非国有企业和知识储备丰富的企业更加明显。机制分析表明,外资安全审查促使中国高技术企业通过加大研发强度、提高研发效率以及加强企业间协同,进而实现了自主创新能力的提升。本文从外资安全审查视角充实了外部制度环境与企业创新关系的实证研究,同时也为中国高技术企业更好应对全球科技竞争提供了理论支撑。As enterprises are the main body of innovation,how to motivate their innovation activities has always been a hot topic of discussion in academic circles,and the external institutional environment is one of the key influencing factors.Schumpeter’s theory of creative destruction holds that when the external environment deteriorates,enterprises must seek survival through internal structural innovation and improve their competitiveness via independent innovation such as new products,new technologies,and new sources of supply.Since the reform and opening-up,cross-border mergers and acquisitions have always been an important source of technology for the innovation and development of Chinese enterprises.However,with the intensification of strategic competition among major powers,some countries frequently strengthen the security review of foreign investment to safeguard national security,creating great obstacles to the overseas investment of Chinese high-tech enterprises.In particular,the introduction of the FIRRMA Act has led to the further deterioration of the external environment for Chinese enterprises,especially high-tech enterprises,hindering their innovation activities and reducing the space for Chinese high-tech enterprises to obtain innovation resources through foreign direct investment.In the face of a technical blockade caused by security review,China’s high-tech enterprises can only win the global science and technology competition by pursuing self-innovation.Therefore,based on the background of strategic competition between major powers,using a difference-in-differences framework,we attempt to explore the impact and mechanism of foreign investment security review,represented by the FIRRMA Act,on the innovation and development of Chinese high-tech enterprises and use data from Chinese A-share listed companies from 2010 to 2021 to conduct the analysis.There are three main points in this study.First,the security review of foreign investment has significantly forced China’s high-tech enterprises to carry o

关 键 词：FIRRMA 外资安全审查 技术封锁 高技术企业 自主创新 

分 类 号：F273.1[经济管理—企业管理]