产业政策对新一代信息技术企业全要素生产率的影响

The Impact of Industrial Policy on Total Factor Productivity of Next-Generation Information Technology Enterprises

本文以《国务院关于加快培育和发展战略性新兴产业的决定》政策的颁布作为一项准自然实验,根据新一代技术产业的定义选取沪深A股非金融企业为研究对象,考察在2006~2022年间该政策实施对新一代信息技术企业全要素生产率的影响。研究结果显示:产业政策的实施显著提高了新一代信息技术企业的全要素生产率。并且企业开办时间越长、企业规模越大、企业利润率越高、企业财务风险越小,越有利于企业全要素生产率的提高。This paper utilizes the promulgation of the “Decision of the State Council on Accelerating the Cultivation and Development of Strategic Emerging Industries” as a quasi-natural experiment, and selects non-financial enterprises in Shanghai and Shenzhen A-share markets that meet the definition of next-generation technology industries as the research object, using a double difference-in-differences approach to examine the impact of policy implementation on enterprise total factor productivity (TFP) from 2006 to 2022. The research findings indicate that the implementation of industrial policies has significantly enhanced the total factor productivity of next-generation information technology enterprises. Furthermore, factors such as longer start-up times, larger company scales, higher profit margins, and lower financial risks have a positive impact on total factor productivity improvement.