创新绩效对研发投资的动态响应及其行业差异——基于5大行业大中型国有企业面板数据的PVAR分析

Industrial heterogeneity in dynamic response of corporate innovation performance to R&D investment: PVAR analysis based on panel data of large and medium-sized state-owned enterprises from five industries

基于2000—2012年中国高技术产业领域的大中型国有及国有控股企业的面板数据,借鉴Abrigo与Love(2015)的面板向量自回归模型的估计方法,分析企业创新绩效对企业研发投资的动态脉冲响应。研究表明:五大制造业在响应方向、响应速度、响应趋势、累积响应和估计误差范围等方面存在显著差异性。

Using the panel data of medium-sized state-owned and state holding enterprise in high-tech industry, this paper tests empirically the dynamic response of corporate innovation performance to R＆D investment based on the estimation method of panel vector auto regression model that has been proposed by Abrigo and Love. The research shows that there are significant differences among the five manufacturing industries in response direction, response speed, response trend, cumulative response and estimation error range.