企业家精神何以促进企业新质生产力形成:机理与实证

How Does Entrepreneurship Facilitate the Cultivation of New Quality Productive Forces in Enterprises:Mechanism and Empirical Evidence

中文关键词:  企业家精神  企业新质生产力  创新促进效应  人才吸引效应  治理改善效应

英文关键词:entrepreneurship  new quality productive forces in enterprises  innovation promotion effect  talent attraction effect  governance improvement effect

中文摘要:

      在高质量发展背景下提升企业新质生产力,需要正确认识企业家精神在其中发挥的重要作用。以 2011—2022年中国沪深 A 股上市公司为样本,实证考察了企业家精神对企业新质生产力的影响及作用机制。研究发现,企业家精神能够促进企业新质生产力形成。机制分析结果表明,企业家精神通过创新促进效应、人才吸引效应及治理改善效应促进了企业新质生产力形成。异质性分析结果表明,企业家精神对企业新质生产力形成的促进作用在产权性质、企业生命周期、地理区位及地区创业活跃度方面存在差异。 进一步研究发现,在企业家精神促进企业新质生产力形成过程中,有为政府、有效市场及二者协同均发挥了正向调节效应；企业家精神对企业新质生产力形成的促进效应存在持续性,且会提高企业全要素生产率和劳动生产率。因此,企业应充分发挥企业家精神,政府应完善有为政府与有效市场建设,助力企业新质生产力形成。

英文摘要:

      In the context of high-quality development, enhancing new quality productive forces in enterprises necessitates a clear understanding of the critical role of entrepreneurship. Using a sample of China's A-share listed companies in Shanghai and Shenzhen stock exchanges from 2011 to 2022, this study empirically examines the impact of entrepreneurship on new quality productive forces and its underlying mechanisms. The findings reveal that entrepreneurship can facilitate the cultivation of new quality productive forces in enterprises. Mechanism analysis demonstrates that this facilitating effect is driven by innovation promotion, talent attraction, and governance improvement. Heterogeneity analysis shows that this effect varies across property rights structures, enterprise life cycle stages, geographical locations, and regional entrepreneurial activity levels. Further analysis indicates that an effective government, an efficient market, and the concerted efforts of the two all exert positive moderating effects. Moreover, the facilitating effect of entrepreneurship is sustained over time and drives improvements in total factor productivity and labor productivity. Therefore, enterprises should fully leverage entrepreneurship, while the government should improve the construction of an effective government and an efficient market to fuel the cultivation of new quality productive forces in enterprises.