| Innovation is the first driving force for development and an important engine for high-quality economic development.Since 2008,whether it is the interruption of supply of foreign high-tech products caused by the escalation of Sino-US trade friction,or the further obstruction of technical exchanges with foreign countries under the superimposed impact of the COVID-19 in 2020,it shows the importance of my country’s independent innovation and future development.Enterprises are the carriers and promoters of innovation activities,and manufacturing enterprises are the mainstay of promoting reform and innovation."Made in China 2025" pointed out: "The manufacturing industry is the main body of the national economy,the main battlefield of scientific and technological innovation,the foundation of building a country,an instrument for rejuvenating a country,and the foundation of a strong country." The effective improvement of the independent innovation capability of manufacturing enterprises is not only an important micro-foundation for building an innovative country,but also an important driving force for deepening the modern economic system.Engraving innovation into the bones of manufacturing enterprises is the proper meaning of my country’s real economy to become bigger and stronger.If the phenomenon of market failure is not corrected in time,it will easily dampen the enthusiasm of enterprises to innovate.And the socialist market economy should avoid this phenomenon.Therefore,industrial policy as the starting point of government regulation is always indispensable.The problems faced by economic development in the new era are more complex,and it also calls for a multi-dimensional,multi-faceted and multi-level analysis of the role of industrial policy.The past research on industrial policy is mainly carried out under the theoretical framework of neoclassical economics,mostly staying at the level of encouraging industrial policies,and interpreting policy effects from the perspective of effectiveness.The past research on enterprise innovation mostly regards enterprises as several homogeneous black boxes,and rarely opens the black boxes to explore the upgrade path of macro and micro linkage.This paper believes that the analysis of the role of industrial policy on enterprise innovation should not be limited to encouraging means,and inhibitory policy means should also be taken into account.In addition,the exploration and analysis of the role of industrial policy on enterprise innovation should not be limited to the internal nature and structure of industrial policy,and the level of industrial policy formulation and implementation should also be included in the analysis framework.Therefore,this paper takes the data of listed Chinese manufacturing enterprises from 2007 to 2019 as a research sample,divides enterprise innovation into breakthrough innovation and incremental innovation,and explores the occurrence mechanism and evolution law of enterprise innovation from the nature structure and hierarchical structure of industrial policies.The main research contents and conclusions of this paper focus on the following aspects:First,the mechanism and empirical analysis of the effect of incentive industrial policies on enterprise innovation.Given that corporate innovation will face the problems of uncompensated externalities and financing constraints,encouraging industrial policies will solve these problems,either through the effect of resource supplementation or through the effect of resource replacement.This part of the empirical analysis mainly focuses on the role environment,role objects,and role methods of encouraging industrial policies.Incentive industrial policy stimulates the incremental innovation of enterprises,but does not have a significant effect on the breakthrough innovation of enterprises;Incentive industrial policy realizes the innovative behavior of enterprises through information transmission mechanism and financing constraint mitigation mechanism;Incentive industrial policies have different effects on the innovation of enterprises in different industry characteristics,different financing constraints,and different living environments;Incentive industrial policies can effectively play an incentive function in areas with a poor institutional environment and a weak competitive environment,and they can complement and correct the market system.;the role of encouraging industrial policy means has the best role interval and best role period.Second,the mechanism and empirical analysis of the effect of inhibitory industrial policy on enterprise innovation.The original intention of the inhibitory industrial policy is to inhibit the development of some industries with excess production capacity that occupy many factors,have a backlog of products,and operate inefficiently,so as to release the factors of inefficient use and guide the factors to flow to places with higher use efficiency.In this process,enterprises face the risk of being merged and eliminated.Under the turbulent and uncertain environment,enterprises have to make changes in order to survive.This part of the empirical analysis finds that the inhibitory industrial policy stimulates the breakthrough innovation of enterprises,while the effect on the incremental innovation of enterprises is not significant.It forced enterprises to reform and survive,and finally realized the release of locked inefficient elements in various regions and the exertion of comparative advantages.In addition,the internal and external survival pressure of enterprises affects the innovation response of enterprises under the policy.Third,the mechanism and empirical analysis of the cooperation between the central and local industrial policy groups for enterprise innovation.The central and local industrial policies are the product of the principal-agent relationship.The central plan has differences in interpretation and interests in different regions,and the initial industrial goals are difficult to be fully realized locally.There will be two policy combinations between the central and local governments under the administrative system.One is a coordinated industrial policy combination encouraged by the local government and encouraged by the central government,and the other is a non-coordinated industrial policy combination encouraged by the local government and not encouraged by the central government.This part of the empirical analysis finds that the central-local coordinated industrial policy combination "local encouragement-central encouragement" stimulates breakthrough innovation of enterprises,while the non-coordinated central and local industrial policy combination "local encouragement-central does not encourage" inhibits When the central industrial policy or local industrial policy is examined separately,both only stimulate incremental innovation,but when the two form a policy synergy,the breakthrough innovation of enterprises is promoted.Third,the mechanism and empirical analysis of the cooperation between the central and local industrial policy groups for enterprise innovation.The central and local industrial policies are the product of the principal-agent relationship.The central plan has differences in interpretation and interests in different regions,and the initial industrial goals are difficult to be fully realized locally.There will be two policy combinations between the central and local governments under the administrative system.One is a coordinated industrial policy combination(encouraged by the local government-encouraged by the central government),and the other is a combination of non-coordinated industrial policies(encouraged by the local government-not encouraged by the central government).This part of the empirical analysis is based on the perspective of synergy.The industrial policy combination of central and local coordination stimulates the breakthrough innovation of enterprises,while the industrial policy combination of non-coordinated central and local governments inhibits the breakthrough innovation of enterprises.When looking at either central industrial policy or local industrial policy alone,both policies only stimulate incremental innovation.However,when the two policies forged a policy synergy,the breakthrough innovation of enterprises was promoted.The innovation of this paper is mainly concentrated in the following aspects: First,it breaks through the single-level analysis of previous research on industrial policy.This paper attempts to analyze both the nature structure of industrial policy and the hierarchical structure of industrial policy.In the nature structure,industrial policy is divided into incentive industrial policy and inhibitory industrial policy.In the hierarchical structure,it breaks through the content and meaning of previous industrial policies,and focuses on the role of the coordination mechanism between industrial policies at different levels in enterprise innovation from the perspective of different implementing entities of industrial policies.Second,this paper expands and enriches the structural connotation of industrial policies,and consolidates the connection logic between industrial policies of different natures.Taking resource allocation as the starting point,different application scenarios of encouraging industrial policies are discussed.Taking the reduction of overcapacity as the starting point,this paper discusses the driving force of enterprise reform and survival under the merger,reorganization among enterprises and the dynamic ability of enterprises after inhibitory industrial policy re-directs the allocation of internal and external resources of enterprises.Third,this paper refines and extends the external action logic and spatial applicability of industrial policies.It is no longer limited to the study of a single-level industrial policy received by enterprises,but incorporates industrial policies received by enterprises at different levels into the analysis framework.It constructs a theoretical model and a mathematical model of the interaction among the central government,local government and enterprises,and explores the coordination between different levels of industrial policies to stimulate enterprise innovation. |
PDF Full Text Request