摘要
本文以2015—2023年创业板上市公司为样本,实证检验了新质生产力对创新型企业价值的影响。结果表明:新质生产力发展水平与创新型企业价值呈显著正相关,且新质生产力能通过缓解融资约束为企业创造价值。当企业主营业务收入增长速度越快时,新质生产力对创新型企业价值的提升作用越显著。此外,异质性分析揭示了技术密集型和资本密集型创新型企业中,新质生产力对其企业价值的正向影响更显著,劳动密集型创新型企业新质生产力对其企业价值无显著影响。同时,非国有企业相较国有企业而言,东部地区相较中西部地区和东北地区而言,新质生产力对创新型企业价值的正向影响更为显著。
This paper takes listed companies on the Growth Enterprises Market from 2015 to 2023 as a sample to empirically examine the impact of new quality productive forces on the value of innovative enterprises.The results indicate that there is a significant positive correlation between the development level of new quality productive forces and the value of innovative enterprises.Moreover,new quality productive forces can create value for enterprises by alleviating financing constraints.The faster the growth rate of an enterprise’s main business revenue,the more pronounced the enhancing effect of new quality productive forces on the value of innovative enterprises.In addition,the heterogeneity analysis reveals that new quality productive forces has a more significant positive impact on the value of technology-and capital-intensive innovative enterprises,while no significant impact on that of labor-intensive innovative enterprises.Meanwhile,compared with state-owned enterprises,and the central and western regions and the northeastern region,there is a more significant positive effect of new quality productive forces on the value of non-state-owned innovative enterprises and those in the eastern region.
作者
余霜
万珈璐
Yu Shuang;Wan Jialu(School of Economics and Management,Guangxi University of Science and Technology,Liuzhou,Guangxi 545006)
出处
《中国商论》
2025年第17期150-155,共6页
China Journal of Commerce
基金
广西哲学社会科学规划研究课题“广西石漠化地区生态补偿机制建设研究”(21BMZ004)
广西工业高质量发展研究中心开放基金项目“广西新质生产力发展水平评价与实现路径研究”(24GXGY22)。
关键词
新质生产力
企业价值
创新型企业
融资约束
双向固定效应
new quality productive forces
enterprise value
innovative enterprises
fi nancing constraints
two-way fixed effects
