| The continuous development of the directions of innovation is an important way to improve the ability of independent innovation,maintain continuous innovation and achieve self-reliance in science and technology.In the process of innovation,the introduction of advanced technology through foreign trade is one of the ways to quickly get rid of technological backwardness and realize "overtaking at corners".In the existing researches,the research on the impact of intermediate goods on innovation is relatively rich,but the research on the directions of innovation is less concerned.Under the background of unprecedented changes in a century,it is of theoretical and practical significance to study the impact and mechanism of intermediate goods on the directions of innovation in the face of technological monopoly and sanctions in western countries.Based on the Custom Database,Patent Database and CSMAR Database,this paper takes the samples of Shanghai and Shenzhen A-shares listed companies from 2008 to 2016,and refers to the International Patent Classification Table(2012)and the United Nations Trade Database(UN Comtrade)to effectively identify the newly developed directions of innovation and the size and variety of imported intermediate goods of listed companies;moreover,we use panel model and Tobit regression model to empirically test the impact of intermediate goods on the directions of innovation.Further,this paper uses the methods of lag variables,SYS-GMM and 2SLS to test the robustness of the above conclusions.Finally,this paper examines the impact mechanism of imported intermediate goods on the directions of innovation from the perspectives of enterprises’ technological absorptive capacity and R&D intensity,and analyzes the heterogeneity from the perspectives of enterprises’ ownership,import and export structure and technological level.The main conclusions of this paper are as follows: First,expanding the import scale and enriching the variety of intermediate goods will help enterprises to develop new directions of innovation and new highquality directions of innovation.Secondly,the technological absorptive capacity and R&D intensity of enterprises are the channels through which the imported intermediate goods affect the directions of innovation.Stronger technological absorptive capacity and R&D intensity will help enterprises to develop new directions of innovations.Third,the above impacts are heterogeneous in the samples with different enterprises’ ownership,import and export structure and technological level.Specifically,in private enterprises,export enterprises and high-tech enterprises,the import of intermediate goods has a greater impact on the development of new directions of innovation,while in state-owned enterprises,foreignfunded enterprises,import only enterprises and low-technology enterprises,the above impact is relatively weak.The innovation of this paper mainly lies in the effective identification and measurement of the directions of innovation,the analysis of the impact mechanism of intermediate goods on the directions of innovation,and the empirical test,which enriches the research framework of import of intermediate goods on the directions of innovation in the existing research. |
