摘要
国家产业政策能深刻影响资源在产业间的配置状态,但是,现有文献中对政府政策、科技人力资源配置在缓解微观企业创新风险中的作用研究不足,也少有研究给予了实证检验。本文采集了"十二五"期间(2011-2015)沪深A股上市公司数据,探索了产业政策、科技人力资源配置对创新风险的作用。实证研究显示:(1)产业政策有利于降低企业创新风险;(2)越是具有科技人力资源优势的企业,在产业政策支持下,企业的创新风险越低;(3)进一步研究发现,产业政策影响企业创新风险的作用机制是:产业政策有利于吸引科技人力资源向产业政策支持企业流动和刺激研发投资;而科技人力资源的上升与研发投资均能显著降低企业的创新风险。本文的研究为国家加大对科技创新的扶持力度和增加对科技人力资源的重视,以降低微观企业创新风险提供了实证依据。
National industrial policy can deeply affect the allocation of resources among industries. However, there are few empirical studies on the role of government policies and the allocation of scientific and technological human resources in mitigating the innovation risk of micro enterprises. This paper collects the data of A-share listed companies in Shanghai and Shenzhen during the12 th Five Year Plan period(2011-2015), and explores the role of industrial policies and the allocation of scientific and technological human resources on innovation risk. The statistical analysis shows that:(1) industrial policy is conducive to reducing the innovation risk of enterprises;(2) the more the enterprises with the advantages of scientific and technological human resources, the lower the innovation risk of enterprises under the support of industrial policy;(3) further research finds that the mechanism of industrial policy affecting the innovation risk of enterprises is: industrial policy is conducive to attracting scientific and technological human resources to support enterprises with industrial policy Flow and stimulate R & D investment, while the rise of human resources and R & D investment can significantly reduce the innovation risk of enterprises. The research of this paper provides empirical basis for the country to increase the support for scientific and technological innovation and increase the emphasis on scientific and technological human resources, so as to reduce the innovation risk of micro enterprises.
出处
《投资研究》
CSSCI
北大核心
2020年第5期142-157,共16页
Review of Investment Studies
基金
国家自然科学基金项目(71272196:“董事会的权力结构:影响因素与经济后果”,71572206:“财务资助与股东兼债权人治理研究”)
桂林旅游学院高层次人才科研启动基金项目(KJ0613004:“产业政策、研发投资与企业创新效率”)、桂林旅游学院重大课题(2018MP01:“桂林旅游产业投资结构与旅游业发展研究”)“、一流学科建设”项目(CZ6101002:“民族区域文化与旅游发展”)
关键词
产业政策
财政扶持
科技人力资源
创新风险
industrial policy
financial support
scientific and technological human resources
innovation-risk
作者简介
冯飞鹏,毕业于中山大学管理学院,获博士学位,现为桂林旅游学院讲师。主要研究领域为:产业政策、企业投融资决策及其经济后果,成果发表于《会计研究》、《中国会计评论》、《财经研究》、Emerging Markets Fi⁃nance and Trade。;通讯作者:韦琼华,桂林旅游学院图文信息中心教师,中级经济师,主要研究领域:大数据与运用。
