政府补助、环境规制对技术创新投入的影响
|
摘要
采用2013-2017年中国重污染企业A股上市公司的面板数据,从非线性的视角采用Hansen面板门槛回归技术,并分别以政府补助和环境规制为门槛变量,探讨了政府补助、环境规制对企业技术创新投入影响的内在机理。结果表明:(1)对于我国重污染企业而言,政府补助对技术创新投入存在显著的U型门槛效应;(2)环境规制对技术创新投入产生正向的非线性效应,且这种正向影响呈现出边际效率递减特征。(3)当政府补助强度存在差异时,环境规制对技术创新投入的影响呈现正向的非线性关系,且在超过第二个门槛值时,环境规制对技术创新的促进效应最强。
Based on the panel data of A-share listed companies of China's heavy polluted enterprises from 2013 to 2017, the Hansen panel threshold regression technique is adopted from a non-linear perspective, and government subsidy and environmental regulation are taken as the threshold variables respectively to explore the internal mechanism of the impact of government subsidy and environmental regulation on technological innovation input of enterprises. The results show that:(1) For heavy polluted enterprises, government subsidy has a significant U-shaped threshold effect on investment in technological innovation;(2) Environmental regulation has a positive nonlinear effect on investment in technological innovation, and this positive effect shows the characteristics of diminishing marginal efficiency.(3) In the case of the difference of government subsidy intensity, the impact of environmental regulation on technological innovation investment presents a positive nonlinear relationship, and when it exceeds the second threshold, the effect of environmental regulation on technological innovation is the strongest.
Based on the panel data of A-share listed companies of China's heavy polluted enterprises from 2013 to 2017, the Hansen panel threshold regression technique is adopted from a non-linear perspective, and government subsidy and environmental regulation are taken as the threshold variables respectively to explore the internal mechanism of the impact of government subsidy and environmental regulation on technological innovation input of enterprises. The results show that:(1) For heavy polluted enterprises, government subsidy has a significant U-shaped threshold effect on investment in technological innovation;(2) Environmental regulation has a positive nonlinear effect on investment in technological innovation, and this positive effect shows the characteristics of diminishing marginal efficiency.(3) In the case of the difference of government subsidy intensity, the impact of environmental regulation on technological innovation investment presents a positive nonlinear relationship, and when it exceeds the second threshold, the effect of environmental regulation on technological innovation is the strongest.
引文
[1] Porter M E.America's green strategy [J].Scientific American,1991,264(4):193-246.
[2] Jaffe A B,Palmer K.Environmental regulation and innovation:A panel data study [J].Review of Economics & Statistics,1997,79(4):610-619.
[3] Horbach J.Determinants of environental innovation—new evidence from German panel data sources [J].Research Policy,2008,37(1):163-173.
[4] 李阳,党兴华,韩先锋.环境规制对技术创新长短期影响的异质性效应——基于价值链视角的两阶段分析[J].科学学研究,2014,32(6):937-949.
[5] 余伟,陈强,陈华.环境规制、技术创新与经营绩效——基于37个工业行业的实证分析[J].科研管理,2017,38(2):18-25.
[6] Jorgenson D W,Wilcoxen P J.Environmental regulation and U.S.economic growth [J].Rand Journal of Economics,1990,21(2):314-340.
[7] Dean T J,Brown R L.Pollution regulation as a barrier to new firm entry:Initial evid-ence and implications for future research [J].Academy of Management Journal,1995,38(1):288-303.
[8] Cesaroni F,Arduini R.Environmental technologies in the european chemical industry.Laboratory of Economics and Management (LEM),Sant’ Anna School of Advanced Studies[R].Working Paper,No.9,2001.
[9] 白雪洁,宋莹.环境规制、技术创新与中国火电行业的效率提升[J].中国工业经济,2009,(8):68-77.
[10] 蒋伏心,王竹君,白俊红.环境规制对技术创新影响的双重效应——基于江苏制造业动态面板数据的实证研究[J].中国工业经济,2013,(7):44-55.
[11] 臧传琴,张菡.环境规制技术创新效应的空间差异——基于2000-2013年中国面板数据的实证分析[J].宏观经济研究,2015,(11):72-83.
[12] Daddi T,Testa F,Iraldo F.A cluster-based approach as an effective way to imple-ment the environmental compliance assistance programme:Evidence from some good practices [J].Local Environment,2010,15(1):73-82.
[13] 朱斌,李路路.政府补助与民营企业研发投入[J].社会,2014,(4):165-186.
[14] 孟庆玺,尹兴强,白俊.产业政策扶持激励了企业创新吗?——基于“五年规划”变更的自然实验[J].南方经济,2016,35(12):1-25.
[15] Hamberg D.Essays on the Economics of Research and Development [M].New York:Random House,1966:9-20.
[16] Lee E Y,Cin B C.The effect of risk sharing government subsidy on corporate R&D investment:Empirical evidence from Korea [J].Technological Forecasting and Social Change,2010,(6):881-890.
[17] 刘继兵,王定超,夏玲.政府补助对战略性新兴产业创新效率影响研究[J].科技进步与对策,2014,(23):56-61.
[18] 魏长升,蒋琳.政治关联、政府补助与技术创新投入关系研究[J].武汉理工大学学报(信息与管理工程版),2017,39(6):715-720.
[19] Lach S.Do R&D subsidies stimulate or displace private R&D?Evidence from israel[J].Journal of Industrial Economics,2010,50(4):369-390.
[20] 吕久琴,郁丹丹.政府科研创新补助与企业研发投入:挤出、替代还是激励?[J].中国科技论坛,2011,(8):21-28.
[21] 逯东,林高,杨丹.政府补助、研发支出与市场价值——来自创业板高新技术企业的经验证据[J].投资研究,2012,(9):67-81.
[22] Dominique G,Bruno V P.The impact of public R&D expenditure on business R&D [C].OECD Working Paper,2000.
[23] 毛其淋,许家云.政府补贴对企业新产品创新的影响——基于补贴强度“适度区间”的视角[J].中国工业经济,2015,(6):94-107.
[24] 张彩江,陈璐.政府对企业创新的补助是越多越好吗?[J].科学学与科学技术管理,2016,37(11):11-19.
[25] Hansen B E.Threshold effects in non-dynamic panels:Estimation,testing,and infere-nce [J].Journal of Econometrics,1999,93(2):345-368.
[26] 赵树宽,齐齐,张金峰.寻租视角下政府补助对企业创新的影响研究——基于中国上市公司数据[J].华东经济管理,2017,(12):5-10.
[27] 喻青松,舒建玲.融资结构、政府补助与公司研发投入——基于门槛回归模型的研究[J].南方金融,2016,(1):89-96.
[2] Jaffe A B,Palmer K.Environmental regulation and innovation:A panel data study [J].Review of Economics & Statistics,1997,79(4):610-619.
[3] Horbach J.Determinants of environental innovation—new evidence from German panel data sources [J].Research Policy,2008,37(1):163-173.
[4] 李阳,党兴华,韩先锋.环境规制对技术创新长短期影响的异质性效应——基于价值链视角的两阶段分析[J].科学学研究,2014,32(6):937-949.
[5] 余伟,陈强,陈华.环境规制、技术创新与经营绩效——基于37个工业行业的实证分析[J].科研管理,2017,38(2):18-25.
[6] Jorgenson D W,Wilcoxen P J.Environmental regulation and U.S.economic growth [J].Rand Journal of Economics,1990,21(2):314-340.
[7] Dean T J,Brown R L.Pollution regulation as a barrier to new firm entry:Initial evid-ence and implications for future research [J].Academy of Management Journal,1995,38(1):288-303.
[8] Cesaroni F,Arduini R.Environmental technologies in the european chemical industry.Laboratory of Economics and Management (LEM),Sant’ Anna School of Advanced Studies[R].Working Paper,No.9,2001.
[9] 白雪洁,宋莹.环境规制、技术创新与中国火电行业的效率提升[J].中国工业经济,2009,(8):68-77.
[10] 蒋伏心,王竹君,白俊红.环境规制对技术创新影响的双重效应——基于江苏制造业动态面板数据的实证研究[J].中国工业经济,2013,(7):44-55.
[11] 臧传琴,张菡.环境规制技术创新效应的空间差异——基于2000-2013年中国面板数据的实证分析[J].宏观经济研究,2015,(11):72-83.
[12] Daddi T,Testa F,Iraldo F.A cluster-based approach as an effective way to imple-ment the environmental compliance assistance programme:Evidence from some good practices [J].Local Environment,2010,15(1):73-82.
[13] 朱斌,李路路.政府补助与民营企业研发投入[J].社会,2014,(4):165-186.
[14] 孟庆玺,尹兴强,白俊.产业政策扶持激励了企业创新吗?——基于“五年规划”变更的自然实验[J].南方经济,2016,35(12):1-25.
[15] Hamberg D.Essays on the Economics of Research and Development [M].New York:Random House,1966:9-20.
[16] Lee E Y,Cin B C.The effect of risk sharing government subsidy on corporate R&D investment:Empirical evidence from Korea [J].Technological Forecasting and Social Change,2010,(6):881-890.
[17] 刘继兵,王定超,夏玲.政府补助对战略性新兴产业创新效率影响研究[J].科技进步与对策,2014,(23):56-61.
[18] 魏长升,蒋琳.政治关联、政府补助与技术创新投入关系研究[J].武汉理工大学学报(信息与管理工程版),2017,39(6):715-720.
[19] Lach S.Do R&D subsidies stimulate or displace private R&D?Evidence from israel[J].Journal of Industrial Economics,2010,50(4):369-390.
[20] 吕久琴,郁丹丹.政府科研创新补助与企业研发投入:挤出、替代还是激励?[J].中国科技论坛,2011,(8):21-28.
[21] 逯东,林高,杨丹.政府补助、研发支出与市场价值——来自创业板高新技术企业的经验证据[J].投资研究,2012,(9):67-81.
[22] Dominique G,Bruno V P.The impact of public R&D expenditure on business R&D [C].OECD Working Paper,2000.
[23] 毛其淋,许家云.政府补贴对企业新产品创新的影响——基于补贴强度“适度区间”的视角[J].中国工业经济,2015,(6):94-107.
[24] 张彩江,陈璐.政府对企业创新的补助是越多越好吗?[J].科学学与科学技术管理,2016,37(11):11-19.
[25] Hansen B E.Threshold effects in non-dynamic panels:Estimation,testing,and infere-nce [J].Journal of Econometrics,1999,93(2):345-368.
[26] 赵树宽,齐齐,张金峰.寻租视角下政府补助对企业创新的影响研究——基于中国上市公司数据[J].华东经济管理,2017,(12):5-10.
[27] 喻青松,舒建玲.融资结构、政府补助与公司研发投入——基于门槛回归模型的研究[J].南方金融,2016,(1):89-96.