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银行贷款是企业创新的重要融资来源,银行业市场的变化影响着企业技术创新的融资环境。基于2008-2014年沪深A股上市公司的实证检验发现:银行市场竞争性的提高有利于缓解企业的融资约束,促进企业技术创新。企业规模对中小企业的技术创新有正向的影响,对大型企业存在负的效应。银行业市场竞争对企业技术创新的影响也因企业规模不同而不同,中小企业受到的融资约束明显,银行业竞争度的提高更有利于促进中小企业的技术创新。
Bank loans are an important source of financing for enterprise innovation, and changes in the banking market affect the financing environment for technological innovation in enterprises. Based on the empirical tests of Shanghai and Shenzhen A-share listed companies from 2008 to 2014, it is found that the improvement of the bank’s market competitiveness helps to ease the financing constraints of enterprises and promote the technological innovation of enterprises. The scale of a firm has a positive impact on the technological innovation of SMEs and has a negative effect on large-scale enterprises. The impact of banking market competition on the technological innovation of enterprises also varies with the scale of the enterprises. The financing constraints of SMEs are obvious, and the improvement of banking competition is more conducive to promoting the technological innovation of SMEs.