The impact of urban business environment on the high-quality development of enterprises—An empirical study based on Chinese A-share listed companies'data
Based on the panel data of Chinese A-share listed companies in Shanghai and Shenzhen stock markets from 2010 to 2021,and by matching with the business environment data of 276 cities in China,the study empirically analyzes the impact of urban business environment on the high-quality development of enterprises by using the two-way fixed effects model and mediation effect model.The study finds that optimizing urban business environment has a significant positive effect on the high-quality development of enterprises,and such promotion effect is more significant for enterprises that are smaller,those with stronger financing constraints and those in areas with lower levels of business environment.It promotes the high-quality development of enterprises by boosting the efficiency of enterprise management,promoting the upgrading of human capital,and increasing the investment in R&D.Accordingly,countermeasures and recommendations are put forward to deepen the reform of"streamlining of administration,delegating powers,and improving regulation and services"reform and increase the convenience of the business environment,strengthen the construction of a society governed by the rule of law and enhance business expectations and confidence,give full play to the role of the third party and improve the evaluation of the business environment indicators.
business environmenthigh-quality development of enterprisesmanagement efficiencyhuman capitalR&D investment
万方数据
