商誉减值对企业创新的影响

针对商誉减值与企业创新关系问题，以2007－2020年沪深上市公司为研究样本，采用回归分析方法实证检验商誉减值对企业创新的影响及作用机制，并进一步考察不同情境下商誉减值对企业创新的异质性。结果发现：商誉减值对企业创新存在显著的抑制效应，并且对发明专利和非发明专利均具有显著的抑制作用；商誉减值通过抑制企业研发投入，使得企业没有充足的资源开展创新活动，进而对企业创新产生抑制作用；提高企业的信息透明度和内控质量可以缓解商誉减值对企业创新的负面效应。基于研究结果，从防范商誉减值风险对企业创新的负面影响、提高企业信息透明度和内控质量等两个角度提出相应的政策建议，以期促进企业创新从而助力我国经济高质量发展。

Impact of Goodwill Impairment on Enterprise Innovation

Aiming at the relationship between goodwill impairment and enterprise innovation, this paper chooses the listed companies in Shanghai and Shenzhen from 2007 to 2020 as research samples. Based on the above samples, this paper uses regression analysis to empirically test the impact of goodwill impairment on enterprise innovation and its mechanism, and further examine the heterogeneity of goodwill impairment on enterprise innovation under different scenarios. The results show that goodwill impairment has a significant inhibitory effect on enterprise innovation, and has a significant inhibitory effect on both invention patents and non-invention patents; Goodwill impairment restrains enterprise innovation by restraining R&D investment, which makes enterprises have insufficient resources to carry out innovation activities; Improving the information transparency and internal control quality of enterprises can mitigate the negative effects of goodwill impairment on enterprise innovation. Based on the research results, this paper puts forward corresponding policy recommendations from two perspectives: preventing the negative impact of goodwill impairment risk on enterprise innovation, improving the transparency of enterprise information and the quality of internal control, which are helpful in promoting enterprise innovation and helping China''s high-quality economic development.