The asymmetric competition pattern of'monopolization in the upstream market and competition in the downstream market'has,to a certain extent,hindered the improvement of the overall efficiency and innovation level of China's industrial chain.With the in-depth development of competition policy,the Fair Competition Review System helps to regulate the behavior of local policy making,reduce the barriers to entry in the industry,and maintain the equality of market players,which will profoundly change the pattern of asymmetric competition.Based on the differentiated impact of the implementation of the Fair Competition Review System on upstream and downstream institutional barriers,this article constructs a difference-in-differences model with the sample data of A-share listed companies from 2011-2021 to investigate the impact of the change in asymmetric competition pattern on the R&D and innovation decision-making of enterprises.The findings suggest that the Fair Competition Review System can improve the asymmetric competition pattern by weakening up-stream institutional advantages and induce upstream enterprises to increase their relative innovation out-put.The Fair Competition Review System not only regulates'implicit subsidies'brought about by insti-tutional industry barriers,which weaken the market power and vertical mark-ups of upstream enterpri-ses,but also cuts down on'explicit subsidies'such as government subsidies,tax incentives,and credit tilts,which increase the costs of enterprises and weaken their ability to pass on costs to the down-stream.Market pressures and cost pressures combine to drive upstream enterprises to turn to innovation.This article provides empirical support for a longi-tudinal perspective on how competition policy affects enterprise innovation.
NETL
NSTL
万方数据
