产品市场竞争对企业创新投入同行效应的影响研究

Research on the Peer Effect of Product Market Competition on Innovation Input

本文采用我国A股上市公司2012~2021年的非平衡面板数据,实证分析了行业竞争程度和企业竞争地位对企业创新投入同行效应的影响。实证结果表明:首先,行业竞争程度会促使行业内的企业之间进行创新学习,企业竞争地位较高时,可以利用其地位的优势及时获取行业信息,以进一步扩大市场份额。其次,异质性分析发现在创新投入大的组、行业领导者、非国有企业中,这种现象会更加明显。进一步分析了行业竞争程度和企业竞争地位的交互作用对创新投入同行效应的影响及其经济后果。这些研究结论丰富了市场竞争与创新投入的相关研究,对于在竞争激烈行业中的企业可以充分利用同行企业披露创新相关的信息,吸取率先创新者的成功经验和失败的教训以提高竞争优势。

Using the unbalanced panel data of my country's A-share listed companies from 2012 to 2021,this paper empirically analyzes the impact of industry competition and corporate competitive position on the peer effect of corporate innovation investment.The empirical results show that,firstly,the degree of industry competition will promote innovation and learning among industries.When a company has a high competitive position,it can take advantage of its position to obtain industry information in a timely manner to further expand its market share.Secondly,the heterogeneity analyses find that this phenomenon is more pronounced among groups with higher investment in innovation,industry leaders,and non-state-owned enterprises.Moreover,it further analyzes the influence of the interaction between the degree of industry competition and the competitive position of enterprises on the peer effect of innovation investment and its economic consequences.These conclusions enrich the related research on the relationship between market competition and innovation investment.Companies in highly competitive industries can make full use of the innovationrelated information disclosed by their peers to learn from the successful experience and failure lessons of the first innovators to improve their competitive advantages.