CAJ | 학술논문

文章在构建理论模型的基础上,以上市公司为样本,考察了创新激励政策对国有和民营企业创新能力的异质影响,弥补了现有研究假设创新激励影响同质化的不足。文章研究发现,相同的创新激励对国有和民营企业创新能力的影响是不同的：增强竞争有利于国有企业但不利于民营企业创新能力的提升,而刺激性产业政策和财务宽松度提高则不利于国有企业但有利于民营企业创新能力的提升。此外,竞争政策和产业政策两种不同政策对相同所有权性质企业创新能力的影响也是不同的。
문장재구건이론모형적기출상,이상시공사위양본,고찰료창신격려정책대국유화민영기업창신능력적이질영향,미보료현유연구가설창신격려영향동질화적불족。문장연구발현,상동적창신격려대국유화민영기업창신능력적영향시불동적：증강경쟁유리우국유기업단불리우민영기업창신능력적제승,이자격성산업정책화재무관송도제고칙불리우국유기업단유리우민영기업창신능력적제승。차외,경쟁정책화산업정책량충불동정책대상동소유권성질기업창신능력적영향야시불동적。
Based on a theoretical model and the data of listed companies,this paper analyzes the heterogeneous effects of innovation incentive policies on the innovation ability of state-owned and private-owned enterprises,which overcomes the shortcomings of the assumption that the influence of incentives is homogenous in current studies.It indicates that the same innovation incentives have different effects on the innovation ability of state-owned and private-owned enterprises;the increase in competition is advantageous to the rise in the innovation ability of state-owned enterprises,but not to the rise in the innovation ability of private-owned enterprises;stimulative industrial policy in favor of special industries and financial slack are conducive to the rise in the innovation ability of private-owned enterprises,but not to the rise in the innovation ability of state-owned enterprises.In addition,the effects of competition policy and industrial policy on the innovation ability of enterprises with the same ownership differ.