社会信用与城市创业活跃度

Social Credit and Urban Entrepreneurial Activity

本文在探析社会信用影响城市创业活跃度理论机制的基础上,选取2008—2018年中国285个城市作为研究样本,利用城市失信被执行人数据表征社会信用,并与用于刻画城市创业活跃度的新增企业注册信息相匹配,实证分析社会信用对城市创业活跃度的影响效应及作用机理。研究结果显示,社会信用能够提升城市创业活跃度。该结论在处理内生性问题,以及替换不同度量指标、排除相关政策影响、考虑滞后效应、更换研究样本和剔除异常样本等稳健性检验之后仍然成立。机制分析结果表明,社会信用通过促进劳动力集聚、吸引风险投资以及降低交易成本三方面机制,进一步提升城市创业活跃度。进一步分析结果表明,社会信用对中西部地区城市、一般等级城市创业活跃度的提升作用更强,其有利于提升资本密集型和劳动密集型行业创业活跃度,但对技术密集型行业创业活跃度的影响不明显;不同城市的创业活跃度存在正向空间关联性,社会信用不仅能够激发城市的创业活力,还有利于提高相邻城市甚至地理距离更远关联城市的创业活跃度。

Faced with economic downturn pressure,this paper examines the impact of social credit on urban entrepreneurial activity and its internal mechanism from the perspective of informal institutions.It chooses 285 cities in China as research samples,uses the data of urban dishonest persons to characterize social credit,and matches them with the registration information of new enterprises to describe urban entrepreneurial activity.It also selects some control variables such as industrial structure level,market openness,scientific expenditure,technological innovation level,environmental pollution level and public health services to empirically test the impact and mechanism of social credit on urban entrepreneurial activity.Based on the theoretical and empirical analysis,this paper reveals a negative correlation between social credit and urban entrepreneurial activity,indicating that an increase in social credit level is beneficial for enhancing urban entrepreneurial activity.This conclusion is still valid after endogeneity and robustness tests.The mechanism analysis confirms that social credit,as an informal institution,can further enhance urban entrepreneurial activity through three mechanisms:labor agglomeration promotion,venture capital attraction,and transaction cost reduction.Further analysis shows that this impact is more significant in cities in the central and western regions and general cities,and in capital-intensive and labor-intensive industries,but it remains limited in technology-intensive industries.In addition,there is a positive spatial correlation between entrepreneurial activity in cities.Specifically,social credit can not only stimulate the entrepreneurial vitality of the city but also improve the entrepreneurial activity of neighboring cities and even more geographically distant associated cities.This paper makes contributions from two dimensions.From the perspective of informal institutions,it deeply analyzes the impact and internal mechanism of social credit on urban entrepreneurial activity theoretically and empirically,enriching and expanding research on the influencing factors of entrepreneurship.Furthermore,it examines the impacts of social credit on urban entrepreneurial activity from the perspectives of urban location,city tier,and industry classification of new ventures.In addition,considering the spatial correlation characteristics of entrepreneurial activity,it investigates the spatial effect of social credit on urban entrepreneurial activity within the framework of spatial economics research,providing new ideas for analyzing the relationship between social credit and entrepreneurial activity and expanding the depth and breadth of relevant research.