科技人才、全要素生产率与装备制造业高质量发展

为充分释放科技人才在推进装备制造业高质量发展中的积极效能,本文基于人力资本理论,在理论刻画科技人才投入对装备制造业高质量发展影响机理的基础上,剖析全要素生产率增长的中介作用并提出研究假设;采用全局参比的DEA-Malmquist方法和多指标综合评价模型测度装备制造业全要素生产率状况和高质量发展水平,借助固定效应和SYS-GMM法探索性构建静态和动态中介效应模型。在此基础上,选取2000—2017年中国装备制造业省级面板数据,采用工具变量法计量检验科技人才对装备制造业高质量发展的影响机理和作用路径并进行内生性检验。研究发现:装备制造业高质量发展水平与经济发展水平高度相关,并呈现"东强西弱"的发展态势。短期内科技人才在推动装备制造业高质量发展中的巨大潜能尚未得到充分释放,且影响效应存在显著区域异质性。全要素生产率增长对科技人才与装备制造业高质量发展间存在显著中介效应,但不同区域表现出差异化的中介效应主导机制。长期内区域装备制造业高质量发展的累积效应明显,且动态模型较静态模型的影响作用和中介效应更为显著。     

北京地区制造业企业使用研发成果中隐含研发投入与生产率关系

企业使用的研发成果和技术可能来自自身执行RD活动,也可能是来自于其他企业RD活动,故企业使用研发成果中隐含的RD投入更能真实反映RD投入对生产率的贡献。本文利用耶鲁-加拿大技术流动一致矩阵测算北京制造业分行业使用研发成果中隐含RD投入,并实证检验了企业执行RD投入、使用研发成果中隐含RD投入与生产率之间的关系。研究发现企业执行RD和使用研发成果中隐含RD投入对生产率具有正影响,且后者的产出弹性系数比前者的高一倍。     

研发费用加计扣除政策与企业全要素生产率

在创新驱动发展战略、供给侧结构性改革和减税降费等政策背景下,研究研发费用加计扣除政策对企业全要素生产率的影响具有重要的意义。本文以财税〔2015〕119号文件的颁布作为准实验,使用2008-2017年沪深两市上市公司为研究样本,采用双重差分法,考察研发费用加计扣除政策对企业全要素生产率的影响。研究发现：（1）研发费用加计扣除政策的施行能够显著提升企业的全要素生产率;（2）研发费用加计扣除政策对企业全要素生产率的提升是通过提高企业的研发投入而实现的;（3）这一政策效果在不同地区、不同规模、不同行业竞争程度以及不同生命周期的企业中存在显著差异。基于上述结论,本文提出了完善我国研发费用加计扣除政策的建议。     

智能制造政策能否提升企业全要素生产率？

制造业向智能制造转型升级是中国实现制造强国战略的必由之路。本文采用双重差分法，以《中国制造2025》政策出台为准自然实验，利用A股上市公司2010-2019年数据实证检验了智能制造政策对企业全要素生产率的作用效果及机制。研究发现：（1）智能制造政策能有效促进智能制造领域企业全要素生产率的提高；（2）智能制造政策一方面诱导企业增加无意义或低效率的研发投入，降低企业全要素生产率，另一方面引导企业增加有效发明专利数，进而提高企业全要素生产率；（3）智能制造政策作用效果在不同所有制性质、不同市场化程度地区的企业中存在显著差异。上述结果证实了智能制造政策的作用效果，并部分打开其作用机制黑箱，对下一阶段智能制造产业政策的制定与落实具有重要借鉴和启示意义。     

产业政策与制造业高质量发展

制造业高质量发展已成为当前中国实体经济建设的核心要求,而这需要产业政策的有效配合。基于一定的逻辑推演,探索性地建构了产业政策作用于制造业高质量发展的创新、结构和融合的三分框架。研究发现:(1)创新是产业政策形成制造业高质量发展的主通道,并主要通过高市场集中度、基础设施完善、人力资本培育及重点产业政策实施形成作用。(2)政府的"赢家挑选"行为对结构变动形成一个初始冲击,并辅之以投资结构引诱、空间结构改善而最终实现结构优化,进而通过集中度改变、不良结构趋减传导至创新。(3)创新和结构的双优化,最后汇聚成融合效应,并通过产业组织政策和产业集群政策予以实现。     

加计扣除政策、研发操纵与民营企业自主创新

基于2008-2017年中国A股民营上市公司的创新数据,从研发操纵视角,实证检验了加计扣除政策对民营企业自主创新的影响。实证结果表明：（1）加计扣除政策激励了民营企业自主创新,而研发操纵抑制这种激励效果;（2）随着加计扣除政策2013年和2015年的两次修改,民营企业的研发操纵行为得到一定治理;（3）研发操纵在盈利、非家族、非高新技术及税收监管弱的民营企业中更显著。本研究不仅为税收政策引发的激励扭曲效应提供微观证据,还为完善加计扣除政策提供建议。     

加计扣除政策、研发操纵与民营企业自主创新

 基于2008-2017年中国A股民营上市公司的创新数据，从研发操纵视角，实证检验了加计扣除政策对民营企业自主创新的影响。实证结果表明：（1）加计扣除政策激励了民营企业自主创新，而研发操纵抑制这种激励效果；（2）随着加计扣除政策2013年和2015年的两次修改，民营企业的研发操纵行为得到一定治理；（3）研发操纵在盈利、非家族、非高新技术及税收监管弱的民营企业中更显著。本研究不仅为税收政策引发的激励扭曲效应提供微观证据，还为完善加计扣除政策提供建议。     

出口学习、研发效应与企业生产率提升——来自中国制造业企业的经验证据

基于异质性企业理论的相关国内文献,大多集中在检验中国企业是否存在"出口学习效应",对如何产生"出口学习效应"的具体机理较少涉及。本文认为,产生"出口学习效应"的主要原因来自企业出口后的研发概率与绩效更高,在出口过程中企业会更有可能选择研发投入,且带来的生产率提升更为显著;本文以2004-2007年中国工业企业数据库为样本,基于多达100万个样本点的大数据进行实证检验,结论认为:中国制造业企业出口后选择研发投入的可能性会增加21.63%,而研发投入的选择,给这类企业带来了每年约7.3%的生产率提升。中国企业的出口不仅可以发挥比较优势,解决劳动力就业问题,同时也是为中国制造业企业更加自主选择研发投入,并在中长期提升生产率,获得动态优势的重要途径。     

融资约束、研发操纵与企业创新决策

本文构建了不同渠道融资约束与企业创新决策的理论框架,利用2008-2018年上市公司数据库中的制造企业数据,考察了融资约束对创新决策的影响。研究发现,（1）融资约束不仅没有抑制我国企业开展创新活动,反而促进了企业参与创新的积极性。（2）《高新技术企业管理办法》颁布后,一些企业为获得高新技术企业称号及政策补贴,采取研发操纵手段,扭曲了融资约束对企业创新决策的抑制作用。并且,受融资约束越强的企业参与研发操纵的动机越强烈。（3）基于企业异质性的分组检验表明,融资约束对技术密集型以及资本密集型企业产生显著的促进作用,且技术密集型企业具有更为明显的研发操纵倾向;民营企业、东部地区制造企业融资约束对创新决策的扭曲效应更为显著;同时,外资企业参与研发操纵的概率最大。     

高新认定办法、研发操纵与企业技术创新效率

基于2008-2017年中国高新技术上市公司的创新数据,从“达标型”和“避税型”研发操纵这一新视角,研究了高新认定办法对企业技术创新效率的影响。实证结果表明：高新认定激励了企业技术创新效率,而两类研发操纵抑制了这种激励效应;达标型研发操纵集中在高新认定初审阶段,且高新开发区以外、销售收入较高的企业更显著;避税型研发操纵集中在高新认定复审阶段,且高新开发区以内、销售收入较低的企业更显著。本文为高新认定办法提供了政策建议。     

The impact of R&D on productivity increase in Japanese manufacturing companies

This paper estimates the impact of R&D expenditures (as a ratio to value added) on the rate of total factor productivity increase using the data of 135 to 168 Japanese manufacturing companies in each of two periods - Period I (1966–73) and Period II (1974–82). The rate of return on R&D stock is estimated at 20 percent in Period I and 17 percent in Period II, but is found to decrease when industrial intercept dummies or the rate of deflated sales growth is added as an explanatory variable, which is interpreted as suggesting the inter-industry differences in the rate of exogenous technical progress and the existence of a learning effect. Interindustry differences in the rate of return on R&D are also investigated.     

Specialisation precedes diversification: R&D productivity effects

We model how R&D enters the innovation system in four ways (intramural, extramural, cooperative, and spillover). Despite measuring three different spillovers together, for a very large sample of European enterprises we conclude that the productivity effects of spillovers were at best smaller than intramural R&D productivity effects. We also find that building on the greater skills and experience of enterprises already undertaking R&D (intensity) raised labour productivity more than providing support for those beginning R&D (extensity). Optimal extramural R&D intensity was higher than the actual level; sample firms could boost productivity either by abandoning extramural R&D or by doing much more. There were substantial differences in our sample between enterprises and countries in terms of R&D spillovers. Greater multinational corporation incidence in new EU members accounted for these countries' high direct R&D intensity productivity, regardless of their generally low overall labour productivity. Absorptive capacity made little difference to the utilisation of spillovers.     

资本市场业绩预期压力、投资者情绪与企业研发投资

本文在投资者非理性、管理者理性框架下探讨投资者情绪能否通过理性迎合渠道对企业研发投资产生影响,以及资本市场业绩预期压力能否对这种迎合效应起到抑制作用,并进一步比较不同规模、盈利能力和管理层持股企业间迎合效应的差异。研究结果显示:总体而言,投资者情绪对企业研发投资的影响支持了迎合假说;资本市场业绩预期压力能够抑制企业研发投资对投资者情绪的迎合程度;而以上效应只存在于小规模、低盈利能力以及管理层高持股的企业,说明企业规模、盈利能力和管理层持股是管理层迎合投资者情绪和维护资本市场形象动机的重要影响因素。本文研究结论对于上市公司、投资者、证券分析师以及市场监管部门都具有重要的政策涵义。     

Globalization of R&D by US-based multinational enterprises

This paper examines patterns and determinants of overseas R&D investment by US-based manufacturing MNEs using a new panel dataset over the period 1990–2004. The analysis reveals that R&D intensity of operation of US MNE affiliates is determined mainly by the domestic market size, overall R&D capability and cost of hiring R&D personnel. There is no evidence to suggest that R&D specific incentives have a significant impact on inter-country differences in R&D intensity when controlled for other relevant variables. Overall, our findings cast doubts on the efficacy of efforts by host country governments to entice MNE affiliates to engage in domestic R&D activity, in a context where R&D is becoming a truly global activity.     

R&D, knowledge spillovers and company productivity performance

Using company accounts data for 5 countries (US, UK, Japan, France and Germany) we analyse the relationship between intangible assets and productivity. We integrate the company data with industry information on tangible and intangible investments and skill composition of the labour force. The industry data are summarised in two different taxonomies, factor and skill intensive groups, which account for differences in the knowledge intensity and innovative activities within sectors. The results provide evidence of higher productivity in R&D and skill intensive industries. This can be interpreted as evidence in favour of the presence of spillover effects.     

R&D offshoring and the productivity growth of European regions

The recent increase in R&D offshoring has raised fears that knowledge and competitiveness in advanced countries may be at risk of ‘hollowing out’. At the same time, economic research has stressed that this process is also likely to allow some reverse technology transfer and foster growth at home. This paper addresses this issue by investigating the extent to which R&D offshoring is associated with productivity dynamics of European regions.     

R&D,innovation and productivity relationships: Evidence from threshold panel model

This study investigates the nonlinear relationship between R&D expenditures, innovation, productivity, high-tech export products. Previous empirical research used linear standard structures to deal with these kinds of specifications, and it has shown that the linearity is frequently conditioned by other macroeconomic factors such as the level of development and the financial openness. Based on these arguments, our study investigates this question in econometric specification using panel smooth threshold regression methodology proposed by Gonzalez et al. in 2005. Our findings suggest that there is a threshold effect within the links between R&D expenditures, innovation, and productivity. The effect of R&D expenditures, innovation, productivity, and medium and high technology product exports is mixed. However, both positive and negative effects are found, depending on which innovation indicators are used or on which level of threshold variable is the most appropriate. The results advocate that the level of economic development can be considered as target indicators to conduct an innovation policy.     

Environmental innovation and R&D cooperation: Empirical evidence from Spanish manufacturing firms

This paper explores the relationship between firms’ R&D cooperation strategies and their propensity to introduce environmental innovations.Previous literature has supported that environmental innovations differ from other innovations as far as externalities and drivers of their introduction are concerned, highlighting mainly the importance of regulation to trigger them. Using data from the Community Innovation Survey on Spanish manufacturing firms (PITEC), this paper investigates specificities that affect rather how they are developed, and in particular the higher importance of R&D cooperation with external partners.The econometric estimations, controlling for selection bias, suggest that environmental innovative firms cooperate on innovation with external partners to a higher extent than other innovative firms. Furthermore, cooperation with suppliers, KIBS and universities is more relevant than for other innovators, whereas cooperation with clients does not seem to be differentially important. Finally, the results bespoke of a substitution effect between cooperation activities and the internal R&D effort.