信息基础设施建设与数字企业高质量发展——基于“新基建”政策的经验证据  

Information Infrastructure Construction and High-quality Development of Digital Enterprises:An Empirical Evidence Based on‘New Infrastructure’Policy

作　　者：吕指臣 苏金超 张晓明 Lv Zhichen;Su Jinchao;Zhang Xiaoming

机构地区：[1]国家发展改革委价格成本和认证中心 [2]清华大学公共管理学院

出　　处：《宏观经济研究》2025年第3期117-127,共11页Macroeconomics

摘　　要：数字经济已经成为推动中国经济发展的重要引擎,而信息基础设施作为“新基建”的重要组成部分,在数字经济发展过程中扮演着重要角色。本文利用2007—2022年中国A股制造业上市公司面板数据,通过双重差分模型从企业经营绩效视角实证检验信息基础设施建设对中国数字企业的影响,研究发现:(1)信息基础设施建设显著提升了中国数字企业的经营绩效,并且这一促进作用对位于人口规模相对较大地区的企业和自身资产规模相对较大的企业经营绩效影响更为明显。(2)机制分析结果表明,信息基础设施建设有助于激励企业增加研发投入和销售支出,进而促进数字企业经营绩效提升。信息基础设施在发挥政府投资带动作用的同时,也为相关产业发展提供了宝贵机遇,未来应进一步支持信息基础设施建设,在数字时代培育经济发展新动能。Digital economy has become an important engine for China's economic development,and information infrastructure,as an important part of the‘new infrastructure',plays an important role in the development of digital economy.This article utilizes the panel data of China's A-share listed manufacturing companies from 2007 to 2022,and empirically examines the impact of information infrastructure construction on China's digital enterprises through the difference-in-differences model from the perspective of enterprise business performance.The study finds that:(1)Information infrastructure construction significantly improves the business performance of Chinese digital enterprises,and this facilitating effect is more obvious on the business performance of enterprises located in regions with relatively large population size and enterprises with relatively large assets.(2)The results of the mechanism analysis show that the construction of information infrastructure helps to incentivize enterprises to increase their R&D investment and sales expenditures,which in turn promotes the business performance of digital enterprises.While playing the role of government investment drive,information infrastructure also provides valuable opportunities for the development of related industries.In the future,we should further support the construction of information infrastructure and cultivate new kinetic energy for economic development in the digital era.

关 键 词：“新基建” 数字经济 企业经营绩效 

分 类 号：F49[经济管理—产业经济]