涉海企业科技创新投入对企业价值的双门槛效应

The Double-Threshold Effect Between the Science and Technology Innovation and Enterprise Value Related to the Marine Economy

本文针对涉海企业科技创新投入与企业价值提高的关系进行研究,利用2012—2015年涉海上市公司平衡面板数据和Stata15.0软件实证研究发现,现阶段中国的涉海企业科技创新投入与企业价值的双门槛效应显著,并且这种非线性关系在沿海地区与非沿海地区存在较大的差异,沿海地区的门槛值低于非沿海地区的门槛值。样本企业在统计期内的门槛通过情况也存在较明显的结构性失衡,这种失衡在沿海地区已有所改善,在非沿海地区则亟待解决。

In the context of the report of the 19th National Congress of the Communist Party of China as well as the Strategy of Powerful Country by Ocean, the paper focuses on the relationship between the investment innovation and the improvement of the value of enter-prises in sea-related enterprises, by using the panel data of listed companies which are related to the marine economy in 2012-2015 with Stata15.0. The results indicate that the double-threshold effect of investment and enterprise value is significant and there is a big difference of this non-linear relationship between the coastal areas and non-coastal areas, the threshold value of the coastal areas is sig-nificantly lower than the threshold of noncoastal areas. Moreover, there is a structural imbalance during the statistical period. Such im-balances have been improved in the coastal areas but still need to be solved in non-coastal areas.