| Manufacturing is not only the foundation of a country and an instrument of rejuvenation,but also an important key to promote high-quality economic development.However,China’s manufacturing industry is still facing the problem of "big but not strong,complete but not excellent".The report of the 19 th National Congress of the Communist Party of China pointed out that innovation is the first driving force for economic development,and accelerating the transformation and upgrading of China’s manufacturing industry also needs innovation as a support.In order to promote the high-end and intelligent development of manufacturing enterprises,the Chinese government has formulated a series of industrial policies.However,whether these industrial policies can effectively promote the innovative behavior of enterprises is controversial.Discussing the implementation effect of industrial policy from the perspective of enterprise innovation behavior can not only test the effectiveness of industrial policy,but also better play the guiding role of industrial policy,and provide a realistic basis for promoting high-quality economic development.The study discusses the impact of China’s encouraging industrial policy on the innovation behavior of manufacturing enterprises.Firstly,collect and sort out the manufacturing-related policy texts issued by the central government and 31 provinces,autonomous regions and municipalities in China from 2011 to 2020,and build a quantitative model of policy texts.On this basis,the policy text is quantitatively scored,and the measured policy effectiveness is used as an explanatory variable.Secondly,collect the sample data of Shanghai and Shenzhen Ashare listed manufacturing enterprises,and measure the enterprise innovation behavior,substantive innovation behavior and strategic innovation behavior by the total number of patent applications,the number of invention patent applications and the number of non-invention patent applications.Finally,a panel regression model is constructed to explore the impact of encouraging industrial policy on manufacturing enterprises innovation behavior,the means by which encouraging industrial policy affects manufacturing enterprises innovation behavior,and the impact of encouraging industrial policy on heterogeneous manufacturing enterprises innovation behavior,and conduct a series of robustness tests.The study finds that China’s encouraging industrial policy can promote the innovation behavior of manufacturing enterprises.The national industrial policy has a greater incentive effect on the innovation behavior of manufacturing enterprises than the provincial policy,but it is more manifested in stimulating strategic innovation behavior.In addition,there are differences in the innovation incentive effects of different types of policy measures.From the national perspective,fiscal measures,financial measures and guidance measures can promote the innovative behavior of manufacturing enterprises;from the provincial perspective,administrative measures,financial measures and guidance measures can promote the innovative behavior of manufacturing enterprises.Finally,based on the analysis of enterprise heterogeneity,it is found that encouraging industrial policy has a greater role in promoting the innovation behavior of state-owned enterprises,high-tech industry manufacturing enterprises and enterprises in the eastern region,indicating that encouraging industrial policies have different effects on manufacturing enterprises with different property rights,different technical levels and different regions.Based on research results,the study makes relevant policy recommendations. |
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