高新技术企业认定对企业研发投入的影响--基于寻租行为的调节效应

The Impact of High-tech Enterprises on R&D Investment of Enterprises:Adjustment Effect Based on Rent-seeking Behavior

基于2007—2018年A股上市公司的面板数据,对高新技术企业认定对企业研发投入的影响进行了分析,同时考察了寻租因素对该影响的调节效应。通过实证发现,高新技术企业认定确实能够提升企业研发投入力度,且高市场化地区的促进作用强于低市场化地区;寻租行为的产生会抑制这种促进作用,且对低市场化地区企业的抑制效应更明显;短期性的政策迎合式的投入是高新技术企业认定提升企业研发投入的一大因素,且低市场化地区的企业研发投入水平与高新技术企业认定年份的正相关关系更加显著。建议进一步完善高新技术企业认定的程序和办法,同时要提升市场化水平,激发企业自主创新和研发投入的主动性。

Based on the data of A-share listed companies,this paper analyzes the impact of high-tech enterprise recognition on R&D investment by using panel data from 2007 to 2018,and examines the adjustment effect of rentseeking factors on this impact.The empirical results show that:the identification of high-tech enterprises can indeed enhance the R&D investment of enterprises,and the promotion effect of high-tech enterprises is stronger than that of low-market areas;rent-seeking behavior will inhibit this promotion effect,and the inhibitory effect on enterprises in low-market-oriented areas is more obvious;short-term policy catering input is high-tech enterprises’recognition to enhance enterprise R&D investment and the positive correlation between R&D investment level of enterprises in low market-oriented areas and the year of high-tech enterprises identification is more significant.We suggest that we should further improve the procedures and methods for the identification of high-tech enterprises.At the same time,we must raise the level of marketization and stimulate the independent innovation and R&D investment of enterprises.