经济政策不确定性、区域经济复杂度与企业创新行为

构建包含宏观经济政策不确定性指标、区域经济复杂度和上市公司特征变量“宏观-区域-企业”的实证面板数据,在理论分析经济政策不确定性对企业创新行为作用机理的基础上,以区域经济复杂度为视角,对经济政策不确定性与企业创新行为作用机制进行再检验。研究发现：经济政策不确定性对企业创新存在正向激励综合效应,同时,区域经济复杂度不仅能够促进企业创新行为,而且能够强化经济政策不确定性对企业创新行为的影响即抑制负向作用而强化正向作用。考虑内生性,通过替换核心变量检验稳健性以保证研究结论可靠,并且,研究企业特征发现,高科技企业和非高科技企业存在差异。

Economic Policy Uncertainty,Regional Economic Complexity and Innovation Behavior of Enterprises

This paper constructs a panel data of "Macro-Region-Micro" which includes macro level economic policy uncertainty index, provincial and municipal economic complexity and characteristic variables of listed companies. On the basis of theoretical analysis of the mechanism of economic policy uncertainty on enterprise innovation behavior, the impact of economic policy uncertainty on enterprise innovation behavior is Re-examination. The results show that: economic policy uncertainty has a positive incentive effect on enterprise innovation. At the same time, the economic complexity of provinces and cities can not only promote enterprise innovation behavior, but also strengthen the impact of economic policy uncertainty on enterprise innovation behavior, that is, inhibit the negative effect and strengthen the positive effect. The robustness test of the measurement method considering endogeneity and substitution of core variables ensures the reliability of the research conclusion. Further research and development, high-tech enterprises and non-high-tech enterprises have an impact on the above conclusions.