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论文编号：	12672
作者编号：	2120192823
上传时间：	2021/6/20 0:18:57
中文题目：	中美贸易摩擦对我国企业创新水平的影响研究
英文题目：	The Impact of Trade Friction Between China and the United States on the Innovation Level of Chinese Enterprises
指导老师：	姚颐
中文关键字：	中美贸易摩擦；研发投入；创新产出；融资约束；机构持股
英文关键字：	Trade Friction between China and the United States; R&D Investment; Innovation Output; Financing Constraints; Institutional Ownership
中文摘要：	中美之间的贸易摩擦由来已久，随着我国经济高速发展、产业不断升级，以及在全球价值链分工中的地位提升，两国间的贸易摩擦逐渐升级。尤其是特朗普政府出台的一系列贸易政策，将中美之间的贸易摩擦推入了白热化阶段。 本文分析了从1995年至2019年美国向中国发起的313起贸易调查案件，将立案产品通过涉案行业与证监会标准行业分类2位码行业相匹配，确认受到中美贸易摩擦冲击的27个子行业，共占本文样本的58%。同时手工统计了313起贸易调查案件的立案起止时间和措施执行期间，确认每起案件影响的持续时间，并基于行业和持续时间构建了贸易摩擦变量。然后深入研究了中美贸易摩擦对我国企业创新活动的影响。 研究结果显示，中美贸易摩擦与我国企业创新水平之间显著正相关，美国的霸权主义和技术垄断为我国企业敲响了警钟，让企业意识到自主创新的重要性，为了获得竞争优势，我国企业，主要是高技术企业，在贸易摩擦的压力下加大了创新投入。同时贸易摩擦也倒逼我国企业产生了更多研发成果，尤其是高质量的研发成果，促进了我国企业由模仿创新向自主创新转变，加快了我国产业升级和国产替代的进程。 同时本文发现，融资约束对中美贸易摩擦和企业创新之间的关系有负向调节作用，如果企业面临较的高融资约束，其在压力下向自主创新转型的活动将受挫。机构持股对中美贸易摩擦和企业创新投入之间有负向调节作用，但对中美贸易摩擦和企业创新产出之间有正向调节作用，机构股东在面临贸易摩擦时对研发投入更加谨慎，但通过提高创新投入效率，企业依然在贸易摩擦的压力下产生了更多创新成果。 本文的研究为应对中美贸易摩擦提供了新的实证证据，表明我国企业采取了积极的应对措施，正在向自主创新转型，但创新发展离不开强大的科研能力，也离不开完善的资本市场，政府也应该为企业压力下的转型打造更具支持性的环境，在微观主体和宏观环境的双重发力下，发挥创新对发展的推动作用。
英文摘要：	The trade friction between China and the United States has a long history. With the rapid development of China's economy and the upgrading of China’s position in the global value chain, the trade friction between the two countries has been escalating. Especially since 2018, a series of trade policies issued by the trump government have pushed the trade friction between China and the United States into a white hot stage. This paper analyzes 313 trade investigation cases initiated by the United States to China since 1995. According to the statistical industry information in the case, this paper matches the products in each case with the two digit industry of the standard industry classification of China Securities Regulatory Commission, so as to find 27 subindustries impacted by the trade friction between China and the United States, accounting for 58% of the sample in this paper. Meanwhile, the starting and ending time and the implementation period of 313 trade investigation cases were manually counted, so the duration of each case impact was confirmed. Then the trade friction variables were constructed based on the industry and duration. Then I studies the influence of the China-US trade friction on the innovation activities of Chinese companies. The data tells that there is a positive correlation in the China-US trade friction and the innovation level of Chinese enterprises.Although the United States hopes to hinder the development of Chinese enterprises through tariff restrictions and technology blockade, considering that most of the affected enterprises’ income from the US accounts for a small proportion, the impact of the profitability is limited. On the contrary, American hegemonism and technology restrictions ring the bell for Chinese enterprises so as alerted enterprises to the importance of independent innovation, forced Chinese enterprises to produce more innovation achievements, promoted the transformation of Chinese enterprises from imitation innovation to independent innovation, and accelerated the process of China's industrial upgrading and domestic substitution. At the same time, this paper finds that financing constraints have a negative moderating effect on the relationship between trade friction and enterprise innovation. If enterprises are faced with higher financing constraints, their transformation activities to independent innovation will be frustrated under pressure. Institutional ownership has a negative moderating effect on trade friction and enterprise innovation input, but it has a positive moderating effect on trade friction and enterprise innovation output. Institutional shareholders are more cautious about R&D investment when facing trade friction. However, by improving the efficiency of innovation input, enterprises still produce more innovation achievements under the pressure of trade friction. These search in this paper provides new empirical evidence for dealing with trade friction between China and the United States, which shows that Chinese enterprises have taken positive measures to deal with the trouble and are transforming to independent innovation pattern. However, the innovation development cannot be separated from strong scientific research ability and helpful capital market. The government should also create a more supportive environment for enterprises. Only the government and enterprises work together, can we better enhance the innovation level of our country.
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