摘要
本文利用2008—2017年A股3500家上市公司的面板数据,运用PSM估计高新技术企业认定对研发投入的激励效应。结果发现:母公司和子公司高新技术企业认定均显著激励企业增加研发投入;相较于2008版认定政策,2016版认定政策对研发财力投入的激励效应较小,但对研发人力投入的激励效应较大;高新技术企业认定前,企业会自主增加研发投入以满足认定标准,认定期间研发投入会显著增加,认定期满后企业不会显著增加人力投入;企业当期的认定状态具有较高的概率,与其前一期的相同。本文的研究结果意味着,高新技术企业认定政策是有效的制度安排,但应在激励企业持续性地进行科技创新等方面完善认定政策,以建成创新型国家和世界科技强国。
Drawing on 3500 China's A-share listed companies from 2008 to 2017,this paper compares non-high-tech enterprises and high-tech enterprises to examine the effect of high-tech enterprise certification on R&D input based on propensity score matching.The results indicate that Recognition of high-tech enterprises of the parent company or subsidiaries has a significant and positive influence on R&D input;Compared with the recognition policy published in 2008,the high-tech enterprises identified by the recognition policy published in 2016 have the less incentive effect of R&D investment but the greater incentive effect of R&D manpower input;High-tech enterprises incline to self-select in increasing R&D input to gain the certification and not significantly adding R&D manpower input after the end of high-tech enterprise certification,and high-tech enterprises become more innovative during the period of certification;Both parent and subsidiary companies in the current period have the high probability to have the same status as the previous period.The results mean that the high-tech enterprise certification policy is an effective institutional arrangement,but government should improve the identification policy in terms of stimulating enterprises to continuously carry out scientific and technological innovation to build an innovative country and a global scientific power.
作者
陈珍珍
何宇
徐长生
Chen Zhenzhen;He Yu;Xu Changsheng(School of Economics,Huazhong University of Science and Technology,Wuhan 430074,China)
出处
《中国科技论坛》
CSSCI
北大核心
2019年第7期1-10,共10页
Forum on Science and Technology in China
基金
国家社科基金重大项目“推进我国工业化与信息化融合研究”(08&ZD037)
关键词
高新技术企业认定
研发投入
PSM
High-tech enterprise certification
R&D input
Propensity score matching
