国家自主创新示范区政策与企业新质生产力培育——来自中国上市企业的微观证据

National Independent Innovation Demonstration Zones Policy and the Cultivation of Corporate New Quality Productivity: Micro-Evidence from Chinese Listed Companies

摘要:

在新发展格局下，以国家自主创新示范区为代表的创新驱动政策，能否真正成为创新驱动发展的“试验田”，进而赋能企业新质生产力的培育与发展？本文基于2011—2022年我国沪深A股上市公司数据，探讨国家自主创新示范区政策与企业新质生产力的内在因果关系。研究发现：国家自主创新示范区的设立能够有效促进企业新质生产力的培育，此结论通过一系列稳健性检验后依然成立。进一步的机制分析表明，国家自主创新示范区可以通过推动企业数字化转型、提升企业实质性创新水平赋能企业新质生产力的培育；异质性分析表明，国家自主创新示范区的设立对企业新质生产力培育的积极作用因企业的产权性质、高新技术特征、规模、生产要素密集度以及战略区域的不同而呈现出显著差异。研究结果有助于深化对创新驱动政策和企业新质生产力的认识，并为我国企业新质生产力的培育提供了有效的经验证据。

Abstract:

In the context of the new development pattern, can innovation-driven policies represented by National Independent Innovation Demonstration Zones (NIIDZs) truly serve as "test fields" for innovation-driven development and thus empower the cultivation and growth of corporate new quality productivity? Based on panel data of China's Shanghai and Shenzhen A-share listed companies from 2011 to 2022, this paper explores the internal causal relationship between NIIDZ policies and corporate new quality productivity. The study finds that the establishment of NIIDZs effectively promotes the cultivation of corporate new quality productivity, and this conclusion remains valid after a series of robustness tests. Further mechanism analysis reveals that the establishment of NIIDZs can empower the cultivation of corporate new quality productivity by promoting corporate digital transformation and enhancing the level of substantial innovation. Heterogeneity analysis shows that the positive effect of NIIDZ establishment on corporate new quality productivity varies significantly across enterprise ownership, high-tech characteristics, scale, factor intensity, and strategic regions. The findings contribute to deepening the understanding of innovation-driven policies and corporate new quality productivity, and provide effective empirical evidence for cultivating new quality productivity in Chinese enterprises.