摘要 以我国创新型城市试点政策为研究背景,考查创新型城市建设是否促进了企业转型升级。利用三重差分的检验结果表明,创新型城市建设对其所属地区制造业上市公司的全要素生产率具有显著的促进作用;这一作用具有一定的区域异质性,在市场化程度较高的地区,其促进作用更为显著。中介效应检验的结果显示,创新型城市建设能够释放积极信号以吸引机构投资者入驻,提高企业机构投资者的持股比例,进而实现企业全要素生产率的提升。 based on the pilot policies of innovative cities in China,this paper examines whether the construction of innovative cities promotes the transformation and upgrading of enterprises.The results of Triple Difference test show that the construction of innovative cities has a significant promoting effect on the total factor productivity of the listed manufacturing companies in their respective regions.This effect has regional heterogeneity,and the promotion effect is more significant in the region with higher degree of marketization.The results of mediating effect test show that innovative city construction can release positive signals to attract institutional investors to settle in,increase the shareholding ratio of institutional investors,and then realize the improvement of total factor productivity of enterprises.
机构地区 广东财经大学会计学院 广东财经大学经济学院
出处 《经济问题》 北大核心 2021年第4期41-48,共8页 On Economic Problems
基金 国家社会科学基金重大项目“国有企业监督制度改革与创新研究”(17ZDA086)。
关键词 全要素生产率 创新型城市 机构投资者持股 Total Factor Productivity(TFP) innovative city institutional investor ownership
分类号 F202 [经济管理—国民经济]
