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    经济经纬 2023 Issue (1) :110-119
    企业管理 最新目录 | 下期目录 | 过刊浏览 | 高级检索 |
    投资审批制度改革与企业创新质量
张文珂1, 王靖宇2
1.中央财经大学 会计学院,北京 100081;
2.北京物资学院 会计学院,北京 101149
    The Reform of Investment Approval System And The Quality of Enterprise Innovation
    ZHANG Wenke1, WANG Jingyu2
1. School of Accounting, Central University of Finance and Economics, Beijing 100081, China;
2. School of Accounting, Beijing Wuzi University, Beijing 101149, China
摘要
参考文献
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摘要 以投资审批制度改革为准自然实验平台,利用2010—2019年中国A股上市公司的相关数据进行研究发现:投资审批制度改革有利于提高企业创新质量,即该政策变革具有创新外溢效应。机制检验结果表明,投资审批制度改革通过抑制制度性交易成本、提高管理者股权激励强度两种潜在机制推动企业创新质量的改善。进一步地,研究发现投资审批制度改革对企业创新质量的提升作用主要反映在民营企业、存在银企关系的企业以及全要素生产率较高的企业之中。研究结果不仅丰富了企业创新质量影响因素的文献,而且检验了投资审批制度改革的政策效果,为进一步推动投资审批制度改革以释放市场活力提供了稳健的经验证据。
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张文珂
王靖宇
关键词： 投资审批制度改革   企业创新质量   作用机制   作用环境   准自然实验     
Abstract： Taking the reform of investment examination and approval system as the quasi-natural experimental platform, this paper makes a research on the relevant data of Chinese A-share listed companies from 2010 to 2019. It is found that the reform of investment examination and approval system is beneficial to improve the quality of enterprise innovation, that is, the policy change has innovation spillover effect. The mechanism test results show that the reform of investment examination and approval system promotes the improvement of enterprise innovation quality by restraining institutional transaction costs and improving managers’ equity incentive intensity. Further study shows that the effect of investment examination and approval system reform on the quality of enterprise innovation is mainly reflected in private enterprises, enterprises with bank-enterprise relationship and enterprises with high total factor productivity. The results not only enrich the literature on the factors affecting the quality of enterprise innovation, but also test the policy effect of the reform of investment examination and approval system, and provide sound empirical evidence for further promoting the reform of investment examination and approval system to release market vitality.
Keywords： Investment Approval System Reform   Enterprise Innovation Quality   Mechanism   Environment   Quasi natural Experiment     
收稿日期 2022-06-02; 接受日期 ;
基金资助:国家社会科学基金一般项目(20BJY026;21BGL098)
通讯作者 王靖宇(1992— ),男,河北廊坊人,博士,讲师,主要从事公司治理研究。   
作者简介: 张文珂(1992— ),男,河南郑州人,博士研究生,主要从事公司治理研究。
引用本文:   
张文珂, 王靖宇.投资审批制度改革与企业创新质量[J].  经济经纬, 2023,1: 110-119
ZHANG Wenke, WANG Jingyu.The Reform of Investment Approval System And The Quality of Enterprise Innovation[J]  Economic Survey, 2023,V40(1): 110-119
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