“专精特新”企业突破式创新的瓶颈破解与跨越式发展——来自数字普惠金融的证据  

The Bottleneck Resolution and Leapfrog Development of SRDI Enterprises:Evidence from Digital Inclusive Finance

作　　者：龙荔霎 

机构地区：[1]湖南工业大学,湖南株洲412007

出　　处：《浙江金融》2025年第1期70-80,共11页Zhejiang Finance

摘　　要：数字普惠金融在缓解“专精特新”企业融资约束、促进技术创新等方面具有重要作用。随着我国经济结构转型,这类企业面临的融资难题尤为突出。本研究基于2014~2022年我国上市“专精特新”企业的数据,实证检验了数字普惠金融对“专精特新”企业突破式创新的影响。结果表明,数字普惠金融显著提高了“专精特新”企业突破式创新的能力,主要通过缓解融资约束及提高企业全要素生产率实现。异质性分析发现,金融发展水平和行业特征对创新促进效应具有显著差异。具体而言,在金融发展水平较低地区和非高科技行业中,数字普惠金融对企业创新的促进作用更加显著。Digital inclusive finance plays a significant role in alleviating financing constraints and promoting technological innovation for Specialized,Refined,Distinctive,and Innovative(SRDI)enterprises.Amid the economic restructuring in China,these enterprises face pronounced financing challenges.This study empirically examines the impact of digital inclusive finance on breakthrough innovation in SRDI enterprises using data from listed SRDI firms in China from 2014 to 2022.The results reveal that digital inclusive finance significantly enhances the breakthrough innovation capacity of SRDI enterprises,primarily by easing financing constraints and improving total factor productivity.Heterogeneity analysis indicates that the effects of digital inclusive finance on innovation vary significantly based on financial development levels and industry characteristics.Specifically,the innovation-promoting effects are more pronounced in regions with lower financial development and in non-high-tech industries.

关 键 词：专精特新 数字普惠金融 突破式创新 融资约束 全要素生产率 

分 类 号：F832[经济管理—金融学] F276