银行持股真的可以促进企业创新吗?——基于产权性质与R&D投资异质性视角的检验

银行作为股东和债权人的特殊双重身份影响企业的投资决策。以深圳证券交易所中小企业板的高新技术企业为样本，从产权性质和R&D投资异质性视角研究银行持股对创新的影响。研究发现：（1）银行持股可以促进企业创新投入；（2）银行持股可以促进民营企业创新，但对于国有企业的促进作用并不显著；（3）银行持股可以促进企业进行探索式创新，但对于开发式创新的促进作用并不显著。

Can Bank-Share Holding Really Promote the Enterprise Innovation: -Based on Nature of Property Right and R&D Investment Heterogeneity

With the special double role of stockholder and creditor, banks influence the investment decisions of enterprises. Taking the data of China's Shenzhen stock exchange SME board high-tech listed companies as the research object, basing on nature of property right and R&D investment heterogeneity, this paper researches the impact of bank-share holding on enterprise innovation. The results show that:(1) Bank-share holding can promote enterprises to carry out technological innovation activities; (2) Bank-share holding can promote the innovation of private enterprises, whereas for the promotion of state-owned enterprises is not significant; (3) Bank-share holding can promote enterprises to carry out exploratory innovation activities, whereas, the role of bank ownership in promoting developmental innovation is not significant.