The Impact Of Innovation-Driven Policies On Enterprises’ Independent Innovation Performance

In order to promote innovation development,and according to the actual development of the cities themselves,the National Development and Reform Commission(NDRC)first designated some of China’s cities as national innovation pilot cities in 2008.This policy takes independent innovation as an important driver of economic and social development,optimises the industrial structure with innovation,and radiates the innovative development of enterprises with the innovative development of the pilot cities.To date,the first batch of national innovation pilot cities have been established for more than fifteen years.Thanks to the implementation of the innovation-driven policy within the cities,enterprises within the cities not only enjoy the talent gathering effect that comes with the creation of pilot cities,but also enjoy the subsidy benefits from the government’s innovation incentive policy,and have many advantages when carrying out independent innovation R&D activities.The country is further actively pursuing its national innovation pilot city policy,which aims to promote the development of enterprises’ independent innovation performance through innovation-driven policies.In the course of the gradual optimisation of the prevention and control of the new crown pneumonia epidemic,the international and domestic situation has undergone new changes,which have also put forward new requirements for the high-quality development of China’s economy.How to use innovation-driven policies to boost the development of enterprises’ independent innovation performance has become one of the urgent issues to be solved in the transformation of economic development dynamics at this stage.A multi-temporal double-difference model is established by selecting 4,278 listed enterprises in China from 2004 to 2021 to study the policy impact of innovation-driven policies on enterprises’ independent innovation performance and examine the implementation effect of innovation-driven policies.Secondly,we analyse the impact of innovation-driven policies on enterprises’ innovation performance and their impact mechanisms at the theoretical level,and conduct empirical analysis from two perspectives,namely the talent pooling effect and the government incentive effect,using a multi-temporal double difference model and a mediating effect model,and conduct robustness tests on the experimental results.In addition,the impact of innovation-driven policies on the independent innovation performance of enterprises is investigated in a sub-sample based on the differences between the ownership of enterprises and the location of the cities to which they belong.The study found that:(1)the implementation of national innovation-driven policies has played a significant role in boosting the independent innovation performance of enterprises affiliated with cities,with talent pooling and government incentives playing a key role in the influence channel.On the one hand,government support policies for innovation provide more financial support for firms’ innovative activities and fully stimulate their innovative energy;on the other hand,the government provides rewards for firms’ innovative achievements,and this incentive behaviour leads to a continuous increase in the marginal benefits of firms’ innovative behaviour.In addition,the government’s talent attraction policy has effectively enhanced the region’s talent concentration,providing good human capital conditions for enterprises’ R&D and innovation.With the interaction of multiple measures,enterprises’ independent innovation performance achieves significant improvement.(2)There is two-dimensional heterogeneity in the impact of national innovation-driven policies on enterprises’ innovation performance in terms of their geographical location and ownership.In terms of the geographical location of enterprises,the positive effect of innovation-driven policies on the autonomous innovation performance of enterprises in central and western regions is significantly stronger than that of enterprises in eastern regions.In terms of firm ownership,the positive effect of innovation-driven policies on the autonomous innovation performance of state-owned enterprises is higher than that of non-state-owned enterprises.Finally,based on the empirical results,the following suggestions are made from the perspective of enterprises:(1)Enterprises should be more active in assuming social responsibility and improve their own sense of social responsibility.(2)Enterprises need to strengthen cooperation with other economic agents in order to promote deeper cooperation with universities,research institutions and other enterprises.(3)Enterprises need to steadily control risks when carrying out their own innovation activities.From the government’s perspective,the following recommendations are made:(1)The government should further strengthen the implementation of innovation-driven policies.(2)The government should actively promote the construction of an innovation market system in order to provide a good innovation environment to escort the innovation development of enterprises.