研发投入能否降低企业产出波动被引量：3

Does R&D Investment Reduce Firm- level Output Fluctuation

下载PDF

导出

摘要文章基于内生技术进步的理论框架分析了研发投入对企业产出波动的影响,构建了包含技术种类扩展和质量阶梯升级的内生技术进步理论模型,发现研发投入对企业产出波动的影响同时受到多样化效应和"创新性毁灭"效应两种效应的作用。文章利用工业企业数据实证分析验证,结果表明:企业研发投入与产出波动之间存在非线性关系,当研发强度较低时,研发强度增加将有利于降低企业产出波动;随着研发强度的增大,生产率提升、"创新性毁灭"效应更加明显,企业增加研发强度对产出波动的抑制作用逐渐变弱。研发投入带来的技术多样化效应具有抑制产出波动的作用。因此,企业保持适度的研发强度可以抑制产出波动、保障生产供给侧稳定。 Based on the theory of endogenous technological growth theory framework, this paper analyzes the impact of R＆D investment on firm - level output fluctuation. We build a theoretical model containing technological variety expansion and quality ladder upgrade. It is found that R＆D investment will induce technological diversification and destructive innovation which have different impact on finn volatility. We made use of Chinese Industrial Enterprise Database and verified this hypothesis. The result shows that there is non - liner relationship between R＆D investment and firm - level output fluctuation. When R＆D intensity is low, R＆D investment will reduce firm volatility. The increase of innovation capacity and total factor productivity growth will weaken the power of R＆D investment reducing output volatility. Enterprises which have more diversified technological variety will have smaller output fluctuation. It is recommended for firms to keep moderate R＆D intensity and ensure the stability of production supply side.

作者蒋银娟

机构地区武汉大学经济与管理学院

出处《南方经济》 CSSCI 北大核心 2016年第2期13-27,共15页 South China Journal of Economics

关键词研发投入创新性毁灭技术多样化企业产出波动 R＆D investment Creative destruction Technology diversification Enterprise output fluctuation

分类号 F425 [经济管理—产业经济]

引文网络
相关文献

参考文献32

1Acemoglu, D. and Zilibotti, F. , 1997, "Was Prometheus Unbound by Chance? Risk, Diversification, and Growth," Journal of Political Economy, 105 (4), pp. 709 -751.
2Aghion, P. and Howitt, P. , 1992, "A Model of Growth Through Creative Destruction," Econometrica, 60 (2),pp. 323 -351.
3Aghion, P. , Angeletos, G. , Banerje, A. and Manova, K. , 2010, "Volatility and Growth: Credit Constraints and the Composition of Investment," Journal of Monetary Economics, 57 ( 3 ), pp. 246 - 265.
4Aghion, P. , Akcigit, U. and Howitt, P. , 2013, "What Do We Learn From Schumpeterian Growth Thoery?" NBER Working Paper No. 18854.
5Ales6n, M. 1L and Escuer, M.E., 2002, " The Impact of Product Diversification Strategy on the Corporate Performance of Large Spanish Firms," Spanish Economic Review, pp. 119 -137.
6Buch, C. M. , D6pke, J. and Strotman, H. , 2009, "Does Export Openness Increase Firm -level Output Volatility?" The World Economy, 32 (4) , pp. 531 -551.
7Brandt, L. , Van Biesebroeck J. , and Zhang Y. , 2012, "Creative Accounting or Creative Destruction? Firm - level Productivity Growth in Chinese Manufacturing," Journal of Development Economics, 97 (2) : 339 -351.
8Caselli, F., Koren, M., Lisicky, M. and Tenreyro, S. , 2012," Diversification through Trade," Society for Economic Dynamics Meeting Papers.
9Castro, R. , Clementi, G. L. and Lee, Y. , 2010, "Cross- Sectoral Variation in Firm- Level Idiosyncratic Risk," Working Paper.
10Chun, H. , Kim, J. W. , Morck, and R. , Yeung, B. , 2008, "Creative Destruction and Firm - specific Performance Heterogeneity," Journal of Financial Economics, 89 ( 1 ), pp. 109 - 135.

二级参考文献72

1闫冰,冯根福.基于随机前沿生产函数的中国工业R&D效率分析[J].当代经济科学,2005,27(6):14-18. 被引量：78
2戴觅、余淼杰(2012):《企业出口前研发投入、出口及生产率进步》,北京大学工作论文.
3杨汝岱、熊瑞祥(2011):《干中学与中国工业企业出口生产率》,湘潭大学工作论文.
4杨汝岱、郑辛迎(2011):《垂直专业化对员工工资的差异化影响》,湘潭大学工作论文.
5Bai, Chong-En;Lu, Jiangyong and Tao, Zhigang. "How does Privatization Work in China?" Journal of Comparative Economics, 2009, 37, pp. 453 - 470.
6Brandt, Loren;Biesebroeck, Johannes Van and Zhang, Yifan. "Creative Accounting or Creative Destruction? Finn-level Productivity Growth in Chinese Manufacturing. " Journal of Developmen~ Economies, 2012, 97 (2), pp. 339-351.
7Cai, Hongbin and Liu, Qiao. "Competition and Corporate Tax Avoidance: Evidence from Chinese Industrial Finns. "Economic Journal, 2009, 119, pp. 764-795.
8Chen, Zhihong; Ge, Ying and Lai, Huiwen. "Foreign Direct Investment and Wage Inequality: Evidence from China. " World Development, 2011, 39(8), pp. 1322-1332.
9Chesbrough, Henry and Liang, Feng. "Return to R&D Investment and Spillovers in the Chinese Semiconductor Industry: A Tale of Two Segments. "UC Berkeley working paper, 2007.
10Cull, Robert; Xu, Colin Lixin and Zhu, Tian. "Formal Finance and Trade Credit During China's Transition. "Journal of Financial Intermediation, 2009, 18, pp. 173-192.