虚拟经济适度发展对企业技术创新的影响——基于虚拟经济与实体经济协调发展的研究视角

The Impact of Fictitious Economy Development on Technology Innovation of Enterprises——Based on the Perspective of Coordinated Development of Fictitious Economy and Real Economy

以我国上市公司的经验数据为样本，实证研究虚拟经济适度发展对微观企业技术创新的影响。研究发现，虚拟经济与实体经济的协调发展对企业的创新能力产生了显著的促进效应，而虚拟经济发展的影响则不明确。进一步的影响机制研究表明，虚拟经济与实体经济的协调发展能够通过对R＆D投入的刺激，影响企业创新能力的累积。另外还针对技术创新对企业成长性的影响，开展了有关经济后果的拓展研究。

This paper empirically analyzes the effect of the Micro transmission channels of the development of fictitious econ- omy on enteprises innovation activities based on the empirical data of Chinese Listed enterprises. Results show that the coor- dinated development of fictitious and real economy can significantly improve innovation capability of enterprises. Further re- search on the mechanism of influence shows that, through the interference of R＆D investment, the coordinated development of fictitious and real economy can promote the accumulation of enterprise innovation capability. In addition, it analyzes the economic consequences.