地方政府债务对企业创新的门槛效应研究  

Research on the Threshold Effect of Local Government Debt on Enterprise Innovation

作　　者：陶颖 Ying Tao(East China Jiaotong University,Nanchang,Jiangxi,330000,China)

机构地区：[1]华东交通大学,江西省南昌市330000

出　　处：《管理科学与研究(中英文版)》2025年第3期18-23,共6页Management Science and Research

摘　　要：创新是保证我国经济高质量发展的重要前提,其中企业在创新活动中占据主导地位。随着近年来我国各地方政府债务规模不断扩张,企业创新受到了一定的影响。因此,为了探究地方政府债务对于企业创新的影响及其作用机制,本文选取A股上市公司作为研究样本进行实证检验。研究发现,地方政府债务的扩张对企业创新既存在消极影响,又存在积极影响;地方政府债务对企业创新的影响存在门槛效应,即地方政府债务对企业创新的影响存在门槛值,并且门槛值显著且单一。因此,地方政府应控制债务规模,促进企业创新,从而实现地方经济长期的、可持续的健康发展。Innovation is an important prerequisite for ensuring the high-quality development of China's economy,in which enterprises occupy a dominant position in innovation activities.With the continuous expansion of local government debt in our country in recent years,corporate innovation has been affected to some extent.Therefore,in order to explore the impact of local government debt on corporate innovation and its mechanism,this paper selects A-share listed companies as the research sample for empirical testing.The results show that the expansion of local government debt has both negative and positive impacts on enterprise innovation.There is a threshold effect on the impact of local government debt on enterprise innovation,that is,there exists a threshold value for the impact of local government debt on enterprise innovation,and the threshold value is significant and single.Therefore,local governments should control the scale of debt and promote enterprise innovation,so as to achieve long-term,sustainable and healthy development of the local economy.

关 键 词：地方政府债务 企业创新 门槛效应 

分 类 号：F27[经济管理—企业管理]