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研发投入是驱动国家经济转型的动力之源。将世界银行对中国制造企业的调查数据与企业所在城市最低工资水平数据进行匹配，从实证角度探究了最低工资制度与企业规模对企业研发投入的影响及作用机制。研究结果表明，最低工资标准上调对企业研发投入强度具有显著的积极影响，不过这种积极影响伴随着企业规模的扩大而逐渐减弱。此外，企业规模越大，其研发投入强度会越高。进一步地，本文还揭示了最低工资标准影响企业研发投入的3条渠道机制：最低工资标准→银行授信→企业研发投入；最低工资标准→外部技术许可→企业研发投入；最低工资标准→员工在职培训→企业研发投入。研究结论意味着适度提高最低工资标准可以有效地激励制造企业追加研发投入。 相似文献
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利用大样本微观企业数据,从官员激励视角研究了现行官员任期制度安排下,地方官员任期、腐败对辖区内企业研发投入的影响,从而为地方官员治理、腐败治理和经济可持续发展的关系提供了来自转型国家的微观证据。研究结果表明,整体而言,地方官员任期和腐败分别与企业研发投入呈显著的倒U型曲线关系,即适当延长官员任期和适度的腐败水平皆有利于促进辖区企业研发投入,而过长的任期和过高水平的腐败则会抑制辖区内企业研发投入,特别地,官员任期会负向调节腐败与企业研发投入之间的关系。进一步研究发现,官员任期、腐败与企业研发投入之间的关系会随着市场化进程、产业性质和所有制类型的差异而发生显著变化。本文的结论对于促进地方官员治理、腐败治理和加快中国经济转型具有重要的启示意义。 相似文献
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本文基于行为信号理论,以2009—2016年中国高院院长更替数据匹配民营上市企业研发数据,证实了地方司法部门领导人更替具有“凸显效应”,通过缓解民营企业融资约束和技术信息约束,在短期内使民营企业产生正向心理偏差并增加研发投入。对于在高科技行业、竞争激烈行业中、无政治关联、处于成长期的民营企业,司法官员更替对其研发投入的正向作用更加显著;来自其他政法部门的司法官员对民营企业的研发具有最显著的促进效应;籍贯为外省、在政法系统长期任职的司法官员对民营企业研发有更大的促进作用;省委书记和司法官员同年更替不利于民营企业的研发投入。本文对推进中国司法体制改革和创新战略实施具有启示性含义。 相似文献
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以中国上市公司2008—2012年数据为研究样本,实证考察中国式分权与企业研发投入以及研发投入效果的关系。研究发现,中国式分权制约我国企业研发投入强度的制度原因在于官员晋升竞争而非财政分权制度本身,财政分权度的提高对于企业研发投入具有显著的促进作用,且这种作用在民营企业中更为明显;在研发投入效果方面,无论财政分权还是晋升竞争均促进企业研发对于短期绩效的增进作用,这种影响对于国有企业的作用更大。 相似文献
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本文在分析科技产出对科技投入影响机制的基础上构建研究框架,运用面板数据、格兰杰因果检验、面板VAR模型研究了科技投入与产出的互动关系,侧重不同投资渠道资金的绩效研究。研究结果表明,政府科技投入具有一定的刚性,相对独立,不能带动企业科技投入。企业科技投入与银行科技贷款的结合相对比较紧密。科技产出除对企业科技投入的具有较大的促进作用外,对其他投入要素的反馈较小。从要素贡献看,政府科技投入的弹性系数大于企业科技投入,银行科技贷款的弹性系数为负数,研发人员全时当量与科技产出无关。 相似文献
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通过构建政府和KIBS企业动态博弈模型,从理论上探讨政府支持对企业研发投入的可能影响,并使用上市公司面板数据和差分GMM方法进行实证检验。研究结果发现:政府补贴对KIBS企业研发投入具有正向影响,但存在着一定程度的低效率;知识产权保护水平对KIBS企业研发投入具有正向影响,公共信息服务对企业研发投入具有负向影响,但上述结果在统计上均不显著;政府补贴与知识产权保护水平和公共信息服务之间存在着比较显著的互补效应,其组合对KIBS企业研发投入的正向综合影响明显增强。 相似文献
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《国际创新研究学报(英文)》2023,7(1):47-67
In recent decades, with the rapid development of the knowledge economy and science, countries have embraced technical innovation and have gradually increased investment in research and development (R&D). A vast literature indicates that the relationship between R&D and firm performance is highly complex. The evidence suggests that R&D positively influences firm performance, yet findings on the process by which this happens are mixed. Rigorous analyses are required on how R&D investments affect energy consumption. This study explores the impact of R&D investment on the performance and energy consumption of 476 firms in Ethiopia by employing a combination of fixed-effect, propensity score matching, and endogenous treatment effect estimation methods. The empirical results reveal that investment in R&D positively influences both innovation and long-term financial performance but negatively impacts short-term financial performance and energy consumption. The results also show that the impacts of R&D activities vary significantly across different categories of firms, confirming that heterogeneity may be an issue among the firms considered. The results also indicate that the availability of credit is a more important moderating factor in the relationship between R&D investment and firm performance than the legal system is. These results have important implications for firms with growing R&D operations, especially those in developing countries such as Ethiopia. Ethiopian firms should invest more in R&D activities, such as in fundamental and applied research, to improve performance and enhance competitiveness. 相似文献
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研发税收抵扣政策能够有效降低企业研发成本,提高资金使用效率。现有研究对不同国家或地区的研发税收抵扣政策进行了实证评估,并无一致性结论。我国近年来开始推广研发税收抵扣政策,效果尚不明朗。本研究利用2010-2012年中国上市公司数据,探究税收抵扣的分配机制,评估政策效果。结果表明,上市年限短、高管持股比例高、员工规模大、处于高市场化地区的企业更容易获得政府的研发税收抵扣。整体而言,研发税收抵扣显著提高了企业的研发支出,这一效果在制造业较为显著。但对信息技术和科技服务业并无显著效果。 相似文献
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《Research Policy》2022,51(10):104601
We study differences in the returns to R&D investment between German manufacturing firms that sell in international markets and firms that only sell in the domestic market. Using firm-level data for five high-tech manufacturing sectors, we estimate a dynamic structural model of a firm's discrete decision to invest in R&D and use it to measure the difference in expected long-run benefit from R&D investment for exporting and domestic firms. The results show that R&D investment leads to higher rates of product and process innovation among exporting firms and these innovations have a larger economic return in export market sales than domestic market sales. As a result of this higher payoff to R&D investment, exporting firms invest in R&D more frequently than domestic firms, and this endogenously generates higher rates of productivity growth. We use the model to simulate the introduction of export and import tariffs on German exporters, and find that a 20 % export tariff reduces the long-run payoff to R&D by 24.2 to 46.9 % for the median firm across the five industries. Overall, export market sales contribute significantly to the firm's return on R&D investment which, in turn, raises future firm value, providing a source of dynamic gains from trade. 相似文献
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We posit that the effects of R&D investment on financing choices depend on the degree of intervention barriers and appropriation discrepancy between capital providers and the firm. Based on these two contingencies, we categorize financing instruments into four types: common equity (common stock), convertible securities (preferred stock and convertible debt), transactional debt (corporate bonds), and relational debt (bank and commercial loans). From the experiences of 39 petroleum firms during the period 1976-2005, we found R&D investment has a positive effect on the use of common equity, a U-shaped effect on the use of convertible securities, and an inverted U-shaped effect on the use of relational debt to raise capital. These effects are sustained over several years. 相似文献
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《普罗米修斯》2012,30(1):113-149
This paper explores the impact of a specific R&D policy instrument, the Italian Fondo per le Agevolazioni della Ricerca (FAR), on industrial R&D and technological output at the firm level. Our objective is threefold: first, to identify the presence or absence of private R&D investment additionality/crowding-out within a pooled sample and in various firm subsets (identified by region, size, level of technology, and other features), while also taking into account the effect of single policy instruments or mixes of them. Secondly, to analyse the output (innovation) additionality by comparing the differential impact of privately funded R&D and publicly funded R&D expenditure on applications for patents filed by firms. Thirdly, the paper will compare the structural characteristics of firms showing additionality with those of firms showing crowding-out, in order to determine the firm characteristics associated with successful policy interventions. Our results suggest that FAR is effective in the pooled sample, although no effect emerges in some firm subsets. In particular, while large firms seem to have been decisive for the success of this policy, small firms present a more marked crowding-out effect. Furthermore, the firms’ growth strategies and ability to transform R&D input into innovation output (patents) seem to have a positive effect in terms of additionality. 相似文献
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This study empirically examines whether the research and development (R&D) activities of foreign-owned firms in Japan differ notably from the R&D activities of domestically-owned firms based on a firm-level panel dataset. Our study carefully disentangles the significant differences in R&D investment behavior of subsidiaries due to three different reasons: having a foreign parent, corporate group affiliation, and the degree of relatedness between business units. The results reveal the following. First, firms that are majority-owned by another firm are less active in R&D than independent firms. Second, foreign ownership does not matter if the parent firm is from a G7 country, but R&D intensity is significantly and positively associated with foreign ownership if the parent firm is from a non-G7 country. Finally, for subsidiaries whose business is related to that of their parent firm, the R&D intensity is lower if the parent is a domestic firm, but higher if it is a foreign firm. These findings imply that globalization and the integration of firms may not only affect production patterns and global supply chains, but may also have an important impact on the level of domestic R&D activities. 相似文献
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The objective of this paper is to contribute to the empirical literature that evaluates the effects of public R&D support on private R&D investment. We apply a matching approach to analyze the effects of public R&D support in Spanish manufacturing firms. We examine whether or not the effects are different depending on the size of the firm and the technological level of the sectors in which the firms operate. We evaluate the effect of R&D subsidies on the subsidized firms, considering both the effect of subsidies on firms that would have performed R&D in the absence of public support and also the effect of inducement to undertake R&D activities. We also analyze the effect that concession of subsidies might have on firms which do not enjoy this type of support. The main conclusions indicate absence of “crowding-out”, either full or partial, between public and private spending and that some firms - mainly small and operating in low technology sectors - might not have engaged in R&D activities in the absence of subsidies. 相似文献
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学者不断探讨政治关联在中国新兴市场中的价值,然而研究结论并不一致。基于嵌入观和情景理论,本文探讨私营企业家政治关联对企业研发投资的作用,以及企业家经济地位和企业规模对该作用的调节效应。基于2004年、2006年、2008年三轮全国私营企业调查形成的混合截面数据,运用Tobit回归模型,实证研究得出企业家政治关联对企业研发投资影响是倒U型作用;且企业家经济地位、企业规模均会削弱该倒U型作用。本文拓展了新兴市场中的政治关联理论以及其战略价值的研究,且研究结论对于中国企业的创新投资有实践指导价值。 相似文献
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强化市场机制在资源配置中的决定作用,促进金融资本支持企业创新投资是中国产业结构升级的关键。首先,本文从理论机理上梳理了金融发展对企业创新投资两阶段边界影响,认为超过一定边界的金融规模或金融效率不利于企业的创新决策和创新投资。其次,运用三阶段DEA-Malmquist指数、HECKIT模型和门限模型实证检验发现:(1)金融规模影响企业创新投资具有双门槛值,深化不足或过度扩张导致金融发展偏离企业创新投资过程,金融发展对企业创新投资影响更多体现在扩展边际,而非集约边际。(2)金融效率影响企业RD投资具有单门槛值,金融业纯技术效率水平提升以及金融业前沿技术向前推移,越有利于企业创新投资。(3)金融发展边界相对于私企、中低技术企业更高。提升金融效率是跨越企业创新投资过程中规模瓶颈的重要途径。 相似文献
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This paper investigates the effect of tax incentives on R&D activities in Taiwanese manufacturing firms. The propensity score matching (PSM) estimates show that recipients of R&D tax credits appear on average to have 53.80% higher R&D expenditures than that they do without receiving tax credits, while there is no significantly higher growth rate of R&D expenditure. This study further employs the panel instrumental variable (IV) and generalized method of moment (GMM) techniques to control for endogeneity of R&D tax credits and firm heterogeneity in determining R&D expenditure. The R&D tax credit is witnessed to exhibit a significantly positive influence on R&D expenditure and its growth, especially for electronics firms. The marginal effect is moderate, ranging from 0.094 to 0.120. Specifically, the R&D elasticity concerning tax credits tends to increase gradually along with the approaching expiration of R&D tax credits measure, lending a supportive view on its efficacy. 相似文献