服务市场波动、要素依赖与企业技术创新

Fluctuation in the Service Market,Factor Dependence and Firm Innovation

制造业生产过程中的服务要素密集特征日益凸显,国际服务市场会对企业创新等活动产生深远影响。本文分析了国际服务市场波动对企业研发创新决策的影响,以及服务要素依赖的重要边际作用,并度量了2000—2014年国内制造企业面临的国际服务市场波动,检验了这种波动对企业研发创新的影响。结果表明,企业研发创新对国际服务市场波动的反应取决于进口产品内嵌的国际服务要素含量,即对间接进口国际服务要素的依赖:依赖度越高,服务供给的正向冲击对企业创新行为的促进作用越显著。进一步分析发现,来自直接进口国服务市场的正向冲击会刺激企业研发创新,由直接进口国传导的第三国服务市场冲击则会抑制企业的研发创新。间接进口国际服务要素时,过度依赖高质量服务供给国,并不利于企业吸收国际服务市场的正向冲击,推动自身研发创新。企业中间投入占比越高,技术创新受国际服务市场波动的促进作用越强。

As the production process becomes more and more service⁃intensive,the importance of service inputs in the manufacturing sector become pronounced.Meanwhile,the global supply chain adjusts continuously,and the international market fluctuation is becoming more complex.International service market will exert ongoing influence on corporate performance in such areas as innovation.However,faced with service trade barriers,the direct cross⁃border flows of services are hampered.The research about international service market is still relatively rare as it is difficult to connect manufacturing enterprises with international service market directly.But the trade of goods embedded with service inputs provides an indirect channel for manufacturing enterprises to connect with the international service market,and enables the market fluctuations to be transmitted to domestic manufacturers.This makes it possible to study the influence of international service market fluctuations on corporate innovation.This paper is the first to measure the fluctuations in the international service market and analyzes the impact of such fluctuations on manufacturers'innovation theoretically and empirically.We begin by constructing a theoretical framework to interpret how the firms'ability of absorbing international service market fluctuation matters for their innovation decision and the important marginal impact of firms'dependence on service inputs.Service inputs are needed in the production of intermediates.Positive international service market fluctuations will lower the price of foreign service inputs and the price of imported intermediates,and thus influence firms'production and innovation decisions.Empirically,this paper uses the data of individual Chinese manufacturing enterprises,and constructs an index to measure the fluctuation in the international service market faced by them from 2000 to 2014.On this basis,this paper empirically examines the impact of such fluctuation on firms'patent application,and the important marginal role of international service dependence.By distinguishing the source of fluctuation,the quality of service inputs and the importance of intermediates,this paper conducts further mechanism analysis about the spillover effect and cost⁃saving effect.By changing the method of measuring international service market fluctuation and discussing endogenous problems,this paper tests the robustness of the conclusion.The result shows that the response of corporate innovation to the international service market fluctuation depends on the content of international service embedded in the goods imported by the firms,which reflects firms'dependence on indirect service import.The higher the dependence,the more significant the promoting effect of positive international service market fluctuation on corporate innovation.In the sample of manufacturing enterprises from 2000 to 2014,74%increased their innovation activities when the supply of international service market increased.On average,when the supply of international service market increased by 1%,the innovation intensity of enterprises increased by 0.21%.In the production process of imported products,service inputs are necessary,which is the key to establishing connections between domestic manufacturing enterprises and international service market.The service inputs used in the production process come from two sources.One is from direct import source country,and the other is from import source country's import of service.The latter involves a third country's service market fluctuation,i.e.the import source country's import source country,and is further away from Chinese enterprises in the production chain.Further analysis finds that corporate innovation could be stimulated by positive service market fluctuations from the direct import source country,but inhibited if service market shocks come from a third country.As the firm is farther away from the third country which acts as a more indirect source of service in the production process,their technology gap is larger.The larger the technological gap,the more difficult for enterprises to absorb spillover effects.In addition,the average quality of embedded service inputs and the proportion of intermediates are used to test the spillover effect and cost⁃saving effect.Over⁃reliance on indirect service import from countries with higher service quality would inhibit the firms from absorbing positive international service market fluctuation and thus innovating.This indicates that at present,domestic enterprises still have difficulties in absorbing the spillover knowledge and technology of high⁃quality service inputs.The positive fluctuation in the international service market reduces the cost of intermediate products and promotes the innovation activities of enterprises through the cost⁃saving effect.The bigger the proportion of intermediate inputs,the more significant the positive effect.As the first to focus on fluctuations in the international service market,this paper provides a relatively new research perspective for examining manufacturers'innovation in China.With the improvement in data availability,more and more researchers begin to pay attention to more detailed innovation performance such as the corporate innovation mode and innovation quality.When more detailed indicators are used to describe firms'innovation performance,the mechanism of fluctuation in the international service market could be discussed further.