房价上涨对高新区企业研发投入的影响研究——基于31个国家高新区面板数据的实证分析

The Study of Rising House Price’s Impact on the R&D Investment of Enterprises in High-tech Zones:Empirical Analysis Based on Panel Data of 31 National High-tech Zones

文章基于31个大中城市国家高新区2007-2017年面板数据,实证研究了房价对高新区企业研发投入的影响,结果发现:房价上涨并没有显著抑制高新区企业研发投入,其影响存在异质性;沿海城市房价上涨对高新区企业研发投入抑制作用并不显著,内陆城市房价上涨显著抑制了高新区企业研发投入增长;房价上涨对高新区企业研发投入的影响与高新区发展水平有关;技术收入占比和人才占比能够正向调节房价上涨对高新区企业研发的负向影响。房价上涨会显著倒逼技术实力强、人才密度高、发展水平高的高新区企业增加研发投入;提高企业技术水平、增加人才投入可以更好地应对房价快速上涨带来的挑战;必须具备一定的人才和技术条件,房价上涨激发企业创新的倒逼机制才可能发生。

Based on panel data of national high-tech zones in 31 large and medium-sized cities from 2007 to 2017,this paper studies the impact of urban housing prices on R&D investment of enterprises in high-tech zones in China,and finds that the impact is heterogeneous.The growth of R&D investment in high-tech zones is not significantly inhibited by rising house prices in coastal cities,but the housing prices significantly restrain the R&D investment of high-tech zones firms in inland cities;the impact of rising house prices on the firms R&D investment is related to the development level of hightech zones;the technology income and talent will weaken the negative influence of rising housing prices on the growth of R&D investment.Rising house prices will significantly increase the R&D investment of enterprises in high-tech zones with strong technological strength and high talent density;improving the technology level and increasing the number of talents can better meet the challenges brought by the rapid rise of housing prices;it is necessary to have certain talents and technological conditions,and the anti-driving mechanism of stimulating enterprise innovation by rising house prices may occur.