高新认定、要素市场发展与企业创新产出

High-tech Enterprise Certification,Factors Market Development and Enterprise Innovation Outputs

本文利用2008—2019年高端装备制造业A股上市公司数据,基于要素市场配置改革背景,探究高新技术企业认定政策有效性的边界条件以及中国四大经济区政策效应的差异。研究结果表明:高新技术企业认定政策显著提高企业创新产出,在中东部地区政策效应较强,且对这些地区国有及非国有企业正向激励不存在显著性差异;劳动力市场发展水平对认定政策有效性影响不显著,资本和技术市场发展水平显著增强政策效应(东北地区除外);所有制的调节作用主要依赖于资本和技术市场发展水平,且地区差异明显,随着东北和中西部地区技术或资本市场发展水平的提高,认定政策更能提升非国有企业创新产出,而东部的企业在各要素市场发展水平提高的情况下,对认定政策的反应不存在显著性差异。研究结论为缩小认定政策的区域效应差异、深化要素市场改革、推动地区高质量发展提供有益的启示。

Based on the data of A-share listed companies in the high-end equipment manufacturing industry from 2008 to 2019,under the background of factor market allocation reform,this paper explores the boundary conditions of the effectiveness of the high-tech enterprise certification policy and different effects on China’s four economic areas.The results show that the high-tech enterprise certification policy significantly promotes enterprises’innovation outputs.The policy effect is strong in the central and eastern economic areas,in which there is no significant difference in positive incentives for state-owned and non-state-owned enterprises.The development level of the labor market has no significant influence on the policy effectiveness,while that of capital and technology markets significantly enhances the policy effect(except in the northeastern area).The moderating effect of the ownership mainly depends on the development level of the capital and technology market,with obvious regional differences.With the improvement of the development level of the technology or capital market in northeastern and mid-western areas,the policy can better improve the innovation outputs of non-state-owned enterprises.However,under the condition of the improvement of the development level of each factor markets in the eastern area,there is no significant difference between state-owned and non-state-owned enterprises in response to the policy.The conclusion of this study provides useful enlightenment for narrowing the regional effect difference of the policy,deepening the reform of factor markets and promoting high-quality development of regions.