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利用2012年世界银行关于中国企业运营制度环境质量的调查数据,旨在从实证角度研究企业边界扩张与研发投资之间的内在关系。研究发现企业边界扩张对研发投资倾向和力度具有显著的消极影响。在此基础上,文章进一步研究了不同情境下企业边界扩张对研发投资的影响。研究发现,国有控股比例、政治关联、政策不确定性和游说都显著强化了企业边界扩张对研发投资的消极影响,而法治水平则未能有效缓解企业边界扩张对研发投资的消极影响。此外,我们运用广义倾向匹配法和剂量响应模型刻画了企业边界扩张与研发投资之间的关系曲线,结果表明企业边界扩张对研发投资具有较为稳健的负面影响。本文的研究结果丰富了我们对组织方式与企业内部资源配置之间关系的理解,同时也增进我们对企业研发投资的理解。
Using the 2012 World Bank survey data on the environmental quality of China’s enterprise operation system, the paper aims to study the internal relationship between the expansion of enterprise boundaries and R & D investment from an empirical perspective. The study found that the expansion of the business boundary has a significant negative impact on the R & D investment tendencies and intensity. On this basis, the article further studies the impact of business boundary expansion on R & D investment under different scenarios. The study found that the proportion of state-owned shares, political affiliation, policy uncertainty and lobbying significantly strengthened the negative impact of corporate border expansion on R & D investment, while the level of rule of law failed to effectively mitigate the negative impact of corporate border expansion on R & D investment. In addition, we use the generalized propensity matching method and the dose response model to depict the relationship between firm boundary expansion and R & D investment. The results show that firm boundary expansion has a relatively steady negative impact on R & D investment. The findings of this article enrich our understanding of the relationship between organizational approaches and the allocation of resources within an enterprise and also enhance our understanding of corporate R & D investment.