研发强度、出口调节与企业经营绩效——基于企业要素密集度差异的视角

R&D Intensity,Moderating Effects of Export Intensity and Enterprise Business Performance:A Perspective Based on the Different Factor Intensity of Enterprise

本文以中国大中型工业企业为例,从劳动密集型、资本密集型和技术密集型工业企业要素密集度差异的视角,探讨研发强度影响企业经营绩效以及出口强度调节研发强度影响企业经营绩效的内在机理。以2004-2016年中国大中型工业企业为样本的研究发现:(1)由于行业技术、市场竞争等方面的差异,劳动密集型工业企业的研发强度增加会降低企业经营绩效,资本密集型和技术密集型工业企业的研发强度增加会提升企业经营绩效;(2)由于规模经济、出口学习、市场竞争等方面的差异,劳动密集型工业企业的出口强度对研发强度与企业经营绩效的关系起显著正向调节作用,资本密集型工业企业的出口强度对研发强度与企业经营绩效的关系起显著负向调节作用,技术密集型工业企业的出口强度对研发强度与企业经营绩效的关系不存在显著的调节作用。

From the perspective of the different factor intensity among labor-intensive,capital-intensive and technology-intensive industrial enterprises,this paper explores the internal mechanism of R&D intensity affecting enterprise business performance and export intensity moderating the relationship between R&D intensity and enterprise business performance.Using the panel data of the China’s large and medium-sized industrial enterprises from 2004 to 2016 to conduct an empirical study,we find that because of the differences in technology and market competition,the increase of R&D intensity of labor-intensive industrial enterprises will reduce their enterprise business performance,while the increase of R&D intensity of capital-intensive and technology-intensive industrial enterprises will improve their enterprise business performance.Due to the differences in economies of scale,export learning and market competition,the export intensity of labor-intensive industrial enterprises moderate the relation between R&D intensity and enterprise business performance positively and the export intensity of capital-intensive industrial enterprises moderate the relation between R&D intensity and enterprise business performance negatively,while the export intensity of technologyintensive enterprises have no significant moderating effects on the relation between R&D intensity and enterprise business performance.