摘要
基于2009~2017年A股上市公司数据,实证研究了企业创新领域的政治资源诅咒效应,验证了新型政商关系对政治资源诅咒的破解渠道和传导机理。结果发现:①在旧政商关系下,政治关联对企业发明专利和实用新型及外观设计申请量存在显著的阻抑作用;②在时空维度上,新型政商关系对于企业政治资源诅咒效应均具有正向纾解作用;③新型政商关系通过抑制企业过度投资倾向和降低政治联系维系成本两条主要途径破除政治资源诅咒效应;④异质性分析进一步揭示,新型政商关系的调节作用在非国有企业和市场竞争程度较低的行业中更明显。
Based on the data of A-share listed companies from 2009 to 2017,this paper empirically studies the political resource curse effect in the field of enterprise innovation,and verifies the breaking channel and transmission mechanism of the political resource curse caused by the new relationship between government and business.The results show that,firstly,under the old political-business relationship,political association has a significant inhibitory effect on the number of enterprise invention patents,utility models and appearance design applications Secondly,in the dimension of time and space,the new relationship between government and business has a positive mitigation effect on the curse effect of corporate political re-sources.Thirdly,the new politics-business relationship breaks the curse effect of political resources by restraining the tendency of over-investment of enterprises and reducing the maintenance cost of political contacts.Fourthly,the heterogeneity analysis further reveals that the moderating effect of the new relationship between government and business is more obvious in non-state-owned enterprises and industries with a low degree of market competition.
作者
蒋长流
江成涛
郑德昌
JIANG Chang-liu;JIANG Cheng-tao;ZHENG De-chang(Anhui University,He'fei 230601;Huazhong University of Science and Technology,Wuhan 430074)
出处
《软科学》
CSSCI
北大核心
2021年第6期52-57,共6页
Soft Science
基金
国家社会科学基金项目(14BJL104)
安徽省科技创新战略与软科学重大研究专项项目(1706a02020046)
安徽省哲学社会规划重点项目(AHSK22020D17)。
关键词
新型政商关系
政治关联
企业创新
政治资源诅咒
new political and business relations
political connections
corporate innovation
political resource curse
作者简介
蒋长流(1967-),男,安徽岳西人,博士、教授、博士生导师,研究方向为宏观经济理论与政策、科技创新与管理;江成涛(1996-),男,安徽安庆人,硕士研究生,研究方向为宏观经济理论与政策、科技创新与管理;郑德昌(1996-),男,山东日照人,博士研究生,研究方向为公司金融。
