技术创新与企业规模的门槛效应研究——基于高科技上市公司的平衡面板数据分析

Threshold effect of technological innovation and enterprise size——Based on the balance panel data of high-tech listed companies

基于中国高科技上市公司2008-2013年的平衡面板数据,应用面板门槛模型(Panel Threshold Model)对企业规模与技术创新之间的关系进行研究.结果表明:企业规模对技术创新具有明显的门槛效应,表现为当企业规模低于879.822百万元时,企业规模与技术创新之间显著负相关;当企业规模处于879.822百万元到10692.185百万元时,企业规模对技术创新的正向影响最大;当企业规模突破10692.185百万元时,企业规模对技术创新的积极作用有所减弱.研究认为面板门槛模型较好地解释了企业规模与技术创新之间的复杂非线性关系,相应结论为政府产业政策制定和企业创新投入决策提供了科学依据.

Based on balance panel data of high - tech listed companies from 2008 to 2013, this paper studies the relationship be- tween enterprise size and technological innovation by using the panel threshold model. The results show significant threshold effect between enterprise size and technological innovation. The relationship between enterprises size and technological innova- tion is significantly negative when the enterprise size is below 879. 822 million yuan, and most positive when the enterprises size ranges from 879. 822 million yuan to 10692.185 million yuan, and the positive effect is decreased when the enterprise exceeds 10692. 185 million yuan. It is thought that the complex and non - liner relationship of enterprise size and technological innova- tion is well explained by panel threshold model, and some suggestions are provided for enterprises and governments.