产业政策激励与中国制造业企业自主创新——来自于中国A股上市公司的证据

Industrial Policy Incentives and Independent Innovation of Chinese Manufacturing Enterprises—Evidence from Chinese A-share Listed Companies

本文以制造业A股上市企业为研究样本,对产业政策实施与制造业企业自主创新之间的关系及作用机制进行了研究。结果表明:产业政策的实施对于制造业企业自主创新具有显著的促进作用,且对于非国有企业的促进作用更强;在作用机制方面,信贷优惠机制能够显著促进非国有制造业企业自主创新,税收减免以及政府补贴对制造业企业自主创新激励作用不显著,市场竞争促进政策对国有及非国有制造业企业自主创新都具有显著的激励作用,且对于非国有制造业企业创新激励作用更强。

In this paper,we study the relationship between the implementation of the industrial policy and the independent innovation of the manufacturing enterprises by using the sample of manufacturing sector of Ashare listed companies. The results show that the implementation of industrial policy has a significant role in promoting the independent innovation of manufacturing enterprises,and is stronger in promoting non-stateowned enterprises; credit preference mechanism can significantly promote the independent innovation of nonstate-owned manufacturing enterprises; tax cuts and government subsidies for manufacturing enterprise independent innovation incentive effect is not significant,and the promoting policy of market competition both for the state-owned and non-state-owned manufacturing enterprises has a significant incentive effect and the incentive effect of independent innovation is stronger to non-state-owned manufacturing enterprises than that of stateowned manufacturing enterprises.