法制环境、信贷配给与企业研发投入

被引：13

作者：

郭华 ^{[1
,2
]}

张彼西 ^{[1
]}

李后建 ^{[3
]}

机构：

[1] 四川农业大学经济学院

[2] 四川农业大学区域经济与金融研究所

[3] 不详

来源：

宏观经济研究 | 2016年 / 09期

关键词：

法制环境; 信贷配给; 企业研发投入; 递归二元单位概率模型;

D O I：

10.16304/j.cnki.11-3952/f.2016.09.013

中图分类号：

F832.4 [信贷]; F273.1 [企业技术管理]; D922.28 [金融法];

学科分类号：

摘要：

本文利用2012年世界银行关于中国企业运营的制度环境质量调查数据,旨在从实证角度探究法制环境、信贷配给与企业研发投入之间的关系。研究发现,信贷配给显著弱化了企业研发投资的概率和研发投入强度,平均而言,与没有遭受信贷配给的企业相比,遭受信贷配给的企业致力于研发投资活动的概率会显著降低23.42%,而法制环境的改善有助于激发企业研发投入动机,并强化企业研发投入强度,具体而言,法制环境从平均值开始的边际改善会使得企业致力于研发投资活动的概率提高6.88%。研究还发现,随着法制环境的不断改善,信贷配给对企业研发投入行为的负面影响会逐渐弱化。上述结论意味着,现阶段改善法制环境、弱化金融机构信贷配给行为对于推动企业创新和促进中国经济转型升级具有重要的现实意义。

引用

页码：118 / 129

页数：12

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