政企关系对企业高质量发展的影响研究

Study on the Impact of Government Enterprise Relations on High Quality Development of Enterprises

政企关系是企业能否维持生存,实现高质量发展的重要因素。本文基于2014~2020共7年中国上市工业企业微观数据,采用面板固定效应模型,分段检验方法探究政企关系对企业高质量发展的影响。结果表明:1) 政企关系显著推动企业高质量发展,更换变量衡量方式、剔除样本后结论依旧成立;2) 异质性检验发现该作用存在股权异质性,在非国有企业中不显著,在国有企业中显著;3) 机制检验发现,政企关系通过提升创新氛围推动企业高质量发展。

The relationship between government and enterprises is an important factor for enterprises to maintain their survival and achieve high-quality development. This article will use micro data from 7 years of Chinese listed industrial enterprises from 2014 to 2020 to explore the impact of government enterprise relations on high-quality development of enterprises using panel fixed effects models and segmented tests. The results indicate that: 1) the relationship between government and enterprise significantly promotes the high-quality development of enterprises, and the conclusion remains valid after replacing the explanatory variables and excluding the samples;2) the het-erogeneity test found that there is equity heterogeneity in this effect, which is not significant in non-state-owned enterprises but significant in state-owned enterprises;3) mechanism testing found that government enterprise relations promote high-quality development of enterprises by enhancing the innovation atmosphere.