市场竞争、技术创新与企业全要素生产率——基于A股制造业上市公司的实证分析

Market Competition,Technological Innovation and Total Factor Productivity——Evidence from Chinese Listed Companies

市场竞争作为企业赖以生存和发展的外部环境,深刻影响着企业的技术创新与全要素生产率。本文以2008-2018年中国A股上市公司中的制造业企业为样本,基于扩展的CDM模型,对市场竞争、技术创新和全要素生产率之间的关系进行实证研究。研究发现:市场竞争促进了制造业企业技术创新决策,企业间市场竞争越激烈,技术创新投入越多;市场竞争对制造业企业技术创新产出有直接促进作用,且通过促进技术创新投入对技术创新产出产生积极的间接影响;市场竞争对制造业企业全要素生产率有直接促进作用,且存在市场竞争、技术创新投入、技术创新产出及全要素生产率的影响路径,市场竞争通过促进技术创新投入和产出间接正向影响全要素生产率。

Market competition,as the external environment for the survival and development of enterprises,has a profound impact on the technological innovation and total factor productivity of enterprises.Basing on the extended CDM model,this paper conducts an empirical study on the relationship between market competition,technological innovation and total factor productivity,using the data of China's A-share listed manufacturing companies from 2008 to 2018.The results show that the market competition promotes the technological innovation decision of manufacturing enterprises.The more fierce the market competition among enterprises,the more investment in technological innovation.Market competition has a direct promotion effect on the output of technological innovation of manufacturing enterprises,and has a positive indirect influence on the output of technological innovation through the input of technological innovation.Market competition has a direct promotion effect on total factor productivity of manufacturing enterprises,and there are impacting paths of market competition,technological innovation input,technological innovation output and total factor productivity.Market competition indirectly affects total factor productivity by promoting technological innovation input and output.