研发互联网化、融资约束与制造业企业技术创新

R&D Internetization,Financial Constraints and Technological Innovation of Manufacturing Enterprises

本文基于“创新互补”的工作原理,阐述了研发互联网化和融资约束对技术创新的影响机制。采用制造业企业研发层面的互联网使用数据,在克服内生性的基础上,检验了研发互联网化的技术创新促进效应、融资约束的抑制效应及其对研发互联网负向调节效应的强度。研究显示,制造业企业研发部门的互联网使用能对技术创新产生显著的促进效应,而由体制或机制障碍等造成的融资约束则产生显著的抑制效应,并负向调节研发互联网化对技术创新促进效应的发挥。机制检验中,研发互联网化能显著强化开放式创新对技术创新的促进效应,而融资约束显著负向调节该效应;研发互联网化能显著强化开放式创新广度对技术创新的促进效应,而融资约束显著负向调节该效应。分样本研究中,互联网与生产、质量控制、流程再造和新产品改造等不同创新环节深度融合可显著正向作用于技术创新;中小企业使用互联网会显著促进技术创新,且融资约束的负向调节效应显著;相较于普通制造业,在存在融资约束的情境下,高端装备制造业企业研发部门的互联网化能产生更强的技术创新促进效应。本文认为,制造业企业尤其是高端装备制造业企业应加快实现从研发、设计到生产全过程的网络化、数字化、智能化,而国家应围绕通用平台和行业平台这两大主攻方向加快推进工业互联网建设,强化金融资本支持制造业企业信息化改造的制度,以助推制造业高质量发展。

The implementation of the“Internet+”action plan is regarded as not only an important measure to construct an“Internet power”and a“manufacturing power”,but also an important path to achieve innovation-driven and high-quality development.So,can the implementation of the“Internet+”action plan significantly drive the technological innovation of manufacturing enterprises to achieve high-quality development?If the answer is yes,what is the internal mechanism of the Internet s promoting effect?Meanwhile,the manufacturing industry itself has the characteristics of capital and knowledge-intensive,and the implementation of“Internet+”also needs stable and sufficient capital.China is deepening market-oriented reform of the financial services industry.In 2019,the State Council launched“11 measures for opening-up financial industry”.So,in the context of“Internet+”,what impact does the financial constraint“relaxation”have on the technological innovation of manufacturing enterprises?These important practical issues require theoretical interpretation.The research shows that the R&D Internetization of the manufacturing enterprises can produce a significant promotion effect on technological innovation,while financial constraints caused by institutional or institutional obstacles can produce a significant inhibition effect,and negatively adjusted the promotion effect of R&D internetization.The Internetization of R&D can significantly strengthen the promoting effect of open innovation on technological innovation,and financial constraints significantly negatively regulate this effect;the Internetization of R&D can significantly strengthen the promoting effect of the increase of open innovation breadth on technological innovation,while financial constraints negatively regulate the effect;the technological innovation promotion effect of SMEs R&D Internetization is significant and the SMEs are more sensitive to financial constraints;compared with ordinary manufacturing industry,in the context of financial constraints,the R&D Internetization in high-end equipment manufacturing enterprises can produce stronger technological innovation promotion effect.The policy implications of this article are twofold.First,manufacturing enterprises,especially equipment manufacturing enterprises,should vigorously develop a networked collaborative R&D mode,strengthen the development and the application of industrial software,accelerate the networking,digitalization,and intelligent transformation of the industrial equipment.The state should vigorously promote the construction of industrial Internet around the general platform and industry platform.It also should improve the policy on enterprise cloud and platform,strengthen support for the research and development of industrial software,and optimize the ecological environment for cloud-based industrial software.The second is to improve the system of financial capital supporting the informatization transformation of manufacturing enterprises,so as to ensure the stable capital needs of manufacturing enterprises to achieve internetization.While opening up financial services and relaxing financial regulations,the government should guide and encourage the financial industry and various types of social capital to participate in the construction of enterprise informatization and the industrial Internet.In particular,it should increase the financial support for the informatization transformation of small and medium-sized enterprises and the construction of industrial Internet platform.In this way,the inhibition effect brought by finance access obstacles can be alleviated,and the financial constraint can be prevented from becoming a“roadblock”in the construction of the new prospect of a“network power”and a“manufacturing power”.The study not only provides a factual basis for the implementation of“Internet+”and the construction of the industrial Internet,extends the theoretical dimension of increasing the opening up of the financial industry,but also provides a new theoretical perspective for guiding the digitalization and Internetization of manufacturing enterprises.