统计研究

不同于现有研究立足于工具性视角考察创新型城市试点政策的经济效应，本文基于企业创新策略的视角，运用多时点DID方法，考察创新型城市试点建设对企业高质量创新的影响。研究发现，创新型城市试点建设的政策激励显著提升了制造业企业发明专利申请数量，激发了企业进行高质量创新的动力，但对高质量创新长效维护和提升耐力的支撑度尚显不足。在政策性套利普遍存在的情况下，同群效应所导致的创新策略趋同，发明专利价值增值作用有待加强，是导致试点政策对高质量创新长效维护和提升的激励效应不显著的重要原因。作用机制检验结果表明，相较于风险投资和政府补助，来自银行的信贷支持是引导企业更加关注高质量创新长效维护和提升的有效途径。研究结论为重新认识创新型城市试点政策与企业高质量创新的关系提供了新的经验证据，为我国建设金融强国和科技强国提供了政策启示。

Different from the existing researches, which are based on the instrumental perspective to examine the economic effects of innovative city pilot policy, this paper uses the multi-point DID method to investigate the impact of innovative pilot city construction on high-quality innovation of enterprises based on the choice of enterprise innovation strategies. The study finds that: first, the policy incentives generated by the pilot construction of innovative cities have significantly increased the number of invention patent applications by manufacturing enterprises and stimulated enterprises to carry out high-quality innovation,but the degree of support for the subsequent long-term maintenance and enhancement of high-quality innovation by enterprises is still insufficient, and this role has a strengthening trend. How to guide enterprises to focus on the subsequent long-term maintenance and enhancement of high-quality innovation,and to guard against the problem of invention patent bubbles is a top priority. Second, the widespread policy-based arbitrage shows the convergence of enterprise innovation strategies caused by the peer effect, and the value-added role in the interaction between the pilot construction of innovative cities and high-quality innovation of enterprises needs to be strengthened, which is an important reason for the insufficient long-term maintenance and enhancement of high-quality innovation. Third, the pilot construction of innovative cities has significant financing effects, but the financing effects from different sources of funds are heterogeneous; credit support from banks is now a more effective way to guide companies to focus on the long-term maintenance and enhancement of high-quality innovation than venture capital and government subsidies. The conclusions of this paper provide new empirical evidence for re-understanding the relationship between innovative city pilot policies and high-quality innovation of enterprises, which in turn provides policy implications for building a financially and technologically strong China.