反腐败促进了企业创新吗？

突破传统的宏观效应研究，从微观视角考察了反腐败行动对企业创新决策的影响。基于中国A股上市公司2007-2013年数据的实证研究表明，反腐败行动有利于促进企业创新投入，随着地区反腐败力度的增加，企业R&D投资强度得到显著提升。相对于国有企业，反腐败对民营企业R&D投资的驱动作用更加明显；相对于政府管制行业，反腐败对自由竞争企业R&D投资的积极作用表现更充分。从企业层面拓展了对腐败经济后果的理论认知，也从一定程度上驳斥了当前社会存在的“反腐败阻碍了经济增长”的谬论。

Does Anti-corruption Promotes Corporate Innovation---An Empirical Test about the Investment Intensity of R & D

The paper breaks through the traditional macro effect research,and focus on the effect of anti-corruption on en-terprise innovation decisions from a micro perspective.Empirical study based on China's A shares listing Corporation 2007-2013 data shows that the anti-corruption is conducive to promoting enterprise innovation investment,that is,with the in-crease in regional anti-corruption efforts,the enterprise R&D investment strength significantly increased.We also found that,compared with the state-owned enterprises,anti-corruption on private enterprise innovation investment driving effect is more obvious;at the same time,relative to the control industry,the positive effect of anti-corruption on the innovation investment of free competitive enterprises is more fully.This study extends the theoretical knowledge of the economic con-sequences of corruption.At the same time,refutes"anti-corruption hindered the economic growth"fallacy to a certain ex-tent in the current existence.