摘要
以经济政策不确定性为切入点,利用2015—2019年中国沪深A股上市公司数据,实证检验经济政策不确定性与企业探索式创新的影响及作用机制。研究揭示:经济政策不确定性对企业探索式创新具有促进作用;考虑企业外部环境,加入机构投资者持股构建中介效应模型,机构投资者持股在经济政策不确定性与企业探索式创新关系中起部分中介作用;考虑企业自身属性,产权性质与企业地域差异下经济政策不确定性对企业探索式创新的促进作用存在显著差异,该作用主要体现在非国有企业和东部经济带企业中。
Taking economic policy uncertainty as the entry point,we empirically test the impact and mechanism of action between economic policy uncertainty and corporate exploratory innovation by using the data of Chinese listed companies in Shanghai and Shenzhen A-shares from 2015-2019.The study reveals that economic policy uncertainty has a facilitating effect on enterprise exploratory innovation.Considering the external environment of enterprises,institutional investor shareholding is added to construct a mediating effect model,and institutional investor shareholding plays a partial mediating role in the relationship between economic policy uncertainty and enterprise exploratory innovation.Considering the attributes of enterprises themselves,there is a significant difference in the role of economic policy uncertainty in promoting exploratory innovation among non-state enterprises and enterprises in the eastern economic zone.
作者
曹湘平
陈驰
CAO Xiangping;CHEN Chi(School of Economics and Trade,Hunan University of Technology,Zhuzhou 412007,China)
出处
《湖南工程学院学报（社会科学版）》
2023年第2期51-59,共9页
Journal of Hunan Institute of Engineering(Social Science Edition)
关键词
经济政策不确定性
机构投资者持股
探索式创新
economic policy uncertainty
institutional investor shareholding
exploratory innovation
作者简介
曹湘平(1963—),男,湖南资兴人,教授,硕士生导师,研究方向:会计理论与实务教学及研究。
