%0 Journal Article
%T 产业政策对智能制造企业技术创新的影响&#8212;&#8212;以《中国制造2025》为准自然实验<br>The Impact of Industrial Policy on Technological Innovation in Smart Manufacturing Enterprises&#8212;Using Made in China 2025 as a Quasi-Natural Experiment
%A 王宏
%A 杜贞浩
%J World Economic Research
%P 649-663
%@ 2167-6615
%D 2024
%I Hans Publishing
%R 10.12677/wer.2024.134072
%X 本文以《中国制造2025》产业政策为背景&#65292;研究了产业政策对智能制造企业技术创新的影响&#65292;探究了政府补助、税收优惠和融资约束的中介作用。本文通过对2010年至2022年A股上市公司的面板数据分析&#65292;使用双重差分模型进行检验&#65292;研究结果显示相对于未被扶持的企业&#65292;智能制造企业技术创新水平显著增加。同时&#65292;研究发现政府补助和融资约束在政策实施过程中发挥了显著的中介作用&#65292;而税收优惠的影响较小。此外&#65292;异质性分析表明&#65292;国有企业、东部地区和资本密集型企业受政策影响较大&#65292;但国有企业回归系数不高&#65292;存在波动性。<br>This study investigates the impact of the Made in China 2025 industrial policy on technological innovation in smart manufacturing enterprises, focusing on the mediating roles of government subsidies, tax incentives, and financing constraints. Using panel data from A-share listed companies between 2010 and 2022, the study employs a difference-in-differences (DID) model for analysis. The results reveal that the technological innovation level of smart manufacturing enterprises has significantly increased compared to non-supported firms. Moreover, the findings indicate that government subsidies and financing constraints play significant mediating roles during policy implementation, while the impact of tax incentives is relatively minor. Heterogeneity analysis further shows that state-owned enterprises, firms in the eastern region, and capital-intensive enterprises are more significantly affected by the policy. However, the regression coefficients for state-owned enterprises are relatively low, indicating volatility.
%K 智能制造&#65292
%K 企业创新&#65292
%K 双重差分法&#65292
%K 产业政策<br>Smart Manufacturing
%K Corporate Innovation
%K Difference-in-Differences Method
%K Industrial Policy
%U http://www.hanspub.org/journal/PaperInformation.aspx?PaperID=103727