The Digital Innovation Incentive Effect of Entrepreneurship:A Digital Patent Perspective
In the era of digital economy,digital technological innovation is regarded as the innovation field with the widest scope of application and the strongest radiation-driven effect,which has a profound impact on the current economic and social development.Enterprises,as the micro-basis of economic operation,are the key subjects of digital technological innovation,and how to drive enterprise digital technological innovation has become a frontier issue that needs to be studied by the academia.According to the classic Schumpeterian innovation theory,innovation is the introduction of"new combinations"of production factors and production conditions into the production system,and entrepreneurs are the ones who realize the reorganization of innovation factors,and their duty is to carry out"creative destruction"of the old mode of production.Therefore,it is of great theoretical and practical significance to investigate the impact of entrepreneurship on digital technology innovation.This paper incorporates entrepreneurship and digital technology innovation into the same analytical framework,and utilizes the data of Chinese A-share listed companies in Shanghai and Shenzhen to explore the impact and mechanism of entrepreneurship on enterprises'digital technology innovation.The results of the study show that entrepreneurship can significantly promote enterprise digital technology innovation.In terms of the mechanism of action,entrepreneurship empowers digital technology innovation through three channels:the"R&D effect",the"talent effect"and the"governance effect".In addition,the promotion of entrepreneurship is more conducive to the digital technological innovation of enterprises that are not state-owned,in the growth and maturity stages,and are located in regions with strong intellectual property protection,high entrepreneurial activity,and low governmental attention to the digital economy.Compared with the existing literature,the marginal contributions of this paper are as follows.First,the research perspective,based on the entrepreneurial spirit perspective,examines the impact of promoting entrepreneurial spirit at the regional level on the digital technological innovation of micro-enterprises,and broadens the research on the influencing factors of digital technological innovation.Second,on the empirical strategy,the comprehensive index of entrepreneurship is constructed according to the connotation of entrepreneurship.On this basis,taking the pilot policy of"mass entrepreneurship and innovation"demonstration base launched by the State Council in 2016 as a quasi-natural experiment,a progressive difference-in-difference model is constructed to identify the causal relationship between entrepreneurship and digital technological innovation more"cleanly".In addition,this paper also conducts instrumental variable tests by selecting the potential agricultural productivity of Chinese cities in the pre-industrialization period to alleviate the possible endogeneity problem.Third,a multi-dimensional test is conducted in accordance with the life cycle of enterprises,the nature of ownership,and regional differences in intellectual property protection,entrepreneurial activity,and the supply of digital economy policies to examine the heterogeneous impact of promoting entrepreneurship on digital technological innovation in different contexts.Based on the findings of this paper,we put forward the following policy recommendations.First,the government should actively create an external environment conducive to stimulating entrepreneurial innovation.For example,it should further promote the reform of"management and service",accelerate the transformation of government functions,decentralize government,and create a business environment with freedom,equality,justice and the rule of law.Second,the government should give enough policy preferences and support to companies that stimulate entrepreneurship and protect the rights and interests of entrepreneurs,and at the same time set up various incentive mechanisms such as additional financial guidance funds and innovation talent funds to encourage entrepreneurs to actively carry out innovation and entrepreneurship and other adventurous activities.Third,the power of entrepreneurs and other innovative talents should be emphasized to promote digital technological innovation in regions where non-state-owned enterprises and governments pay little attention to digitalization.
entrepreneurshipdigital technology innovationR& D effecttalent effectgovernance effect
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