营商环境对企业创新绩效的影响研究——基于企业家冒险倾向的中介作用

The Influence of Business Environment on Enterprise Innovation Performance——Based on the Mediation of Entrepreneur’s Risk Tendency

文章以2019—2022年创业板上市公司为样本,使用固定效应模型,实证检验了营商环境、企业家冒险倾向与创新绩效之间的关系,并且采用逐步回归的方法对营商环境的中介效应进行检验。企业家冒险倾向的回归系数在对创新投入以及创新绩效的作用中均显著为正,且验证企业家冒险倾向的中介作用以及调节作用时系数也显著为正。结果表明:企业家冒险倾向正向促进创新投入与创新绩效;创新投入促进创新绩效,并且创新投入在企业家冒险倾向与创新绩效之间发挥部分中介作用;营商环境也在企业家冒险倾向对创新投入与创新绩效的影响中起正向调节作用,并且营商环境也能正向调节创新投入的中介效应,即在良好的营商环境中,创新投入的转化率会更高。文中将外部经济环境纳入模型,丰富了创新前置因素的研究。

Taking the enterprises listed on the Second Board from 2019 to 2022 as a sample,this paper empirically tests the relationship between business environment,entrepreneurs’risk-taking tendency and innovation performance by fixed effects model and uses the method of stepwise regression to test the intermediary effect of business environment.The regression coefficient of entrepreneurial risk-taking tendency is significantly positive in the role of innovation investment and innovation performance,and the coefficient is also significantly positive when verifying the intermediary role and regulatory role of entrepreneurial risk-taking tendency.The results show that entrepreneurs’risk-taking tendency positively promotes innovation investment and innovation performance;Innovation investment promotes innovation performance,and innovation investment plays a partial intermediary role between entrepreneurs’risk-taking tendency and innovation performance;The business environment plays a positive regulatory role in the impact of entrepreneurs’risk-taking tendency on innovation investment and innovation performance,and the business environment can also positively regulate the intermediary effect of innovation investment.That is,in a good business environment,the conversion rate of innovation input will be higher.This paper brings the external economic environment into the model,which enriches the exploration of pre-factors on innovation.