地方政府信息公开、融资环境与企业创新  

Local Government Information Disclosure,Financing Environment and Enterprises’Innovation

作　　者：于文超[1] 殷华 YU Wenchao;YIN Hua(School of Economics,Southwest University of Political Science&Law,401120;School of Shanghai Development,Shanghai University of Finance and Economics,200433)

机构地区：[1]西南政法大学经济学院,401120 [2]上海财经大学上海发展研究院,200433

出　　处：《制度经济学研究》2024年第3期36-66,共31页Research on Institutional Economics

基　　金：国家自然科学基金青年项目“地方政府信息公开对企业投资行为的影响及其机制研究”(72003159);教育部人文社会科学研究规划基金项目“公共资源配置信息公开对企业跨地区投资的影响研究”(24YJA790083);重庆市社会科学规划英才计划项目“地方政府数字化转型对企业资源配置效率的影响及其机制研究”(2024YC001)的资助

摘　　要：稳定可预期的营商环境是微观市场主体实现可持续成长的重要依托。地方政府信息公开作为塑造稳定可预期营商环境的有效途径,能够规范地方政府权力运行、降低政策不确定性,进而改善企业创新活动所面临的融资环境。基于世界银行中国企业调查数据的研究表明,在政府信息公开水平更高的城市,企业进行创新活动的概率和强度更高。同时,地方政府信息公开的创新促进效应对中小型企业而言更强,但随着地区法治环境的改善而减弱。机制检验表明,地方政府信息公开显著降低了企业制度性交易成本,增加了企业信贷资源可得性,进而改善了企业内部和外部融资环境。上述发现为理解地方政府信息公开的微观经济效应提供了新证据,更为夯实创新驱动发展战略的微观基础提供了政策启示。A stable and predictable business environment is essential for micromarket players to achieve sustainable growth.As an effective way to build a stable and predictable business environment,local government information disclosure(LGID)can improve enterprises’financing environment through standardizing local government power operations and reducing policy uncertainty.Based on China's enterprise survey data provided by the World Bank,the study suggests that in cities with a higher level of LGID,enterprises have a higher probability and intensity of innovation activity.Meanwhile,the innovation promotion effect of LGID is more substantial for small and medium-sized enterprises but weakens with the improvement of the regional legal environment.The mechanism tests show that LGID significantly reduces institutional transaction costs and enhances enterprises’access to credit resources,thus improving enterprises’internal and external financing environment.These findings provide new evidence for understanding the microeconomic effects of LGID and policy suggestions for consolidating the micro-foundation of innovation-driven development strategy.

关 键 词：地方政府信息公开 企业创新 融资环境 

分 类 号：F272.3[经济管理—企业管理]