摘要
工业企业房地产投资对企业创新存在短期的“挤出效应”和长期的“补偿效应”。本文使用企业研发支出和专利申请衡量工业企业创新活动，利用中国上市公司2007～2011年工业企业面板数据，发现工业企业当期房地产投资与研发支出负相关，工业企业跨期累积房地产投资与研发支出负相关，工业企业滞后期房地产投资与企业专利申请量负相关。这表明，工业企业参与房地产开发投资在短期和长期内都不利于企业创新。
Real estate investment from industrial enterprises has crowding-out effects on industrial innovation in the short run and has compensation effects in the long run. This paper adopts industrial R＆D spending and patent application to measure industrial innovation. By using a company level panel data of listed companies from 2007 to 2011 in China, it is found that industrial real estate investments have negative effects on industrial R＆D spending both currently and cumulatively intertemporally, and lagged industrial real estate investments have negative effects on industrial patent application. These findings imply that the involvement of industrial enterprises in real estate investment may hinder industrial innovation both in the short and long run.
出处
《经济与管理研究》
CSSCI
北大核心
2014年第10期113-120,共8页
Research on Economics and Management
关键词
企业创新
研发
房地产投资
Industrial Innovation
R＆D
Real Estate Investment
作者简介
厦门大学王亚南经济研究院博士研究生，云南大学发展研究院讲师，昆明市，650091。
