摘要
论文依据主营产品类型筛选出2017—2020年A股218家药品生产企业作为样本,实证考察金融科技对企业创新投入强度的影响机制。研究发现:金融科技既能直接促进企业创新,又能以数字生态为中介、间接提升企业创新水平。通过进一步的异质性考察发现:以上机制对发展路径较为成熟、较为规范的化学药创新影响更为显著;对政策、属地、资源等依赖性较强的中药创新仅体现了基于数字生态的间接路径;对处于发展初期的生物药创新仅体现了直接促进作用。
Based on the types of main products,this paper selects 218 A-share pharmaceutical manufacturers from 2017 to 2020 as samples to empirically investigate the impact mechanism of FinTech on enterprise innovation investment intensity.It is found that the construction of digital ecology is of great significance to enhance the innovation investment of enterprises;FinTech can not only have a direct micro impact and promote enterprise innovation,but also improve the level of enterprise innovation and have an indirect macro impact through the intermediary effect of digital ecology.Further heterogeneity investigation found that the above mechanism has a more significant impact on mature chemical drug innovation,but traditional Chinese medicine innovation with strong dependence on policy,territory and resources only reflects the macro indirect path based on digital ecology,while it only reflects the micro direct promotion effect on biological drug innovation at the initial stage.
作者
朱岩
王康仕
姜岳洋
ZHU Yan;WANG Kang-shi;JIANG Yue-yang
出处
《农村金融研究》
2022年第5期3-11,共9页
Rural Finance Research
基金
国家自然科学基金面上项目“技术进步的数据偏向性:面向数字经济的建模”(编号:72173072)的阶段性研究成果。
关键词
金融科技
数字生态
创新投入
异质性
FinTech
Digital Ecology
Innovation Investment
Heterogeneity
