市场需求、创新政策组合与企业创新绩效——企业生命周期视角

以北京A股上市公司为研究对象，基于创新驱动理论，运用多元回归分析方法，探索市场需求与政府干预对处于不同生命周期企业创新绩效的影响。结果表明：①研发补助和税收优惠政策组合协同互补效应显著，但组合效果会因企业所处生命周期不同而呈现显著差别。具体来说，对成长期企业二者组合竞争效应显著，组合效果为负协同。对成熟期企业，二者组合互补效应显著，组合效果为正协同。对衰退期企业，二者组合效果无显著影响，组合效果为无协同；②总体来说，市场需求显著促进企业创新绩效提升，但对于成长期和成熟期企业的正向促进效应显著，对于衰退期企业抑制作用显著；③市场需求在创新政策组合与企业创新绩效之间起负向调节作用，且对处于不同生命周期的企业结论一致。对成长期企业，政府干预优于市场调节，对成熟期企业，市场调节优于政府干预，对衰退期企业，政策引导效果更优。最终，提出促进创新高质量发展的对策建议。

Market Demand、Innovation Policy Mix and Enterprise Innovation Performance：from the Enterprise Life Cycle Perspective

Based on the innovation-driven theory and multiple regression analysis method, this paper explores the impact of market demand and government intervention on the innovation performance of enterprises in different life cycles.Studies show that ：R&D subsidies and preferential tax policies coordination complementary effect significantly, but the combined effect will be due to the enterprise in different life cycle show significant differences, in particular, the chips are a combination of enterprise competition effect effect, are mature enterprise combination effect of complementary effect significantly, the recessionary business combination effect had no significant effect;in general, market demand significantly promotes the improvement of enterprise innovation performance, but has a significant positive promoting effect on enterprises in growth and maturity stage, and a significant inhibiting effect on enterprises in recession stage;the market demand for innovation policy combination and the relationship between the enterprise innovation performance has negative adjustment function, and the conclusions are consistent in different life cycle of enterprises, in the growth of enterprises, government intervention is better than that of market regulation, in a mature enterprise, market regulation is better than that of government intervention, in recession, policy guiding effect is better.Finally, based on the above research results, this paper puts forward countermeasures and Suggestions to promote innovative and high-quality development.