Strategic Emerging Industry Policy and Technology Overlap:Based on the Perspective of the Enterprise Niche
Strategic Emerging Industries(SEI)nowadays assume a pivotal role in the global economy,exerting a profound influence on boosting international competitiveness and promoting industrial upgrading.The effective execution of the development strategy for SEI demands dynamic adjustment of industrial policies,which constitutes the key to achieving success.Industrial policies not only serve as the cornerstone for attaining this objective but also form the basis for guiding and supporting enterprises to sustain a competitive edge in global competition.The majority of existing studies focus on analyzing the direct impact of policies on the technological R&D of individual enterprises,yet they frequently overlook the perspective of enterprise ecosystems.Thus,there is an urgent necessity to supplement the present theoretical and empirical research in this domain.The Strategic Emerging Industry Policy(SEIP)is treated as a quasi-natural experiment.Based on the theory of enterprise niche,we utilize the difference-in-difference method(DID)with data from manufacturing companies listed on the Shanghai and Shenzhen stock exchanges during 2007-2017.Our analysis examines the impact of the SEIP on technology niche overlap.The empirical findings demonstrate a positive influence of the SEIP on technology niche overlap,primarily driven by stimulating strategic innovation and industry entry,rather than substantial innovation.Moreover,we identify the negative moderating effects of financial constraints and digital transformation,along with stronger policy effects on growing enterprises and technology-intensive enterprises.Our research elucidates the relationship between current industry policies and technology niche overlap,offering valuable guidance for the formulation of policies aimed at fostering SEI development.The marginal contribution is as follows:First,using the enterprise niche theory,the impact of industrial innovation on technology niche overlap is evaluated by the difference-in-difference method.The enterprise niche theory originates from biology and emphasizes the role of enterprise in enterprise ecology and the way of resource utilization.Our research results deepen the understanding of the impact of industrial policy on technology R&D activities,focusing not only on the behavior of a single enterprise,but also on the interaction and competition between enterprises in the entire enterprise ecosystem.Secondly,according to study the moderating role of financing constraints and digital transformation and analyze the mechanism of strategic innovation and industry entry,we can clarify the influence mechanism of SEIP on technology niche overlap.Understanding these influencing mechanisms can help policymakers more effectively design and adjust industrial policies to promote technological innovation and industrial structure upgrading.Third,previous studies focused on a single industry segment,but our research completed a large sample measurement of the technology niche overlap of the entire manufacturing industry.The research results are more reliable and can be generalized,and can also provide a strong basis for policy coordination.Meanwhile,there are some limitations to our research.First,estimates of overlap at the technical level and the technology chain are relatively basic,and future research needs to identify patent situations in more detail in order to fully understand this overlap.Secondly,due to the fact that the concept of niche comes from biology,its application in enterprises is abstract and fuzzy.Therefore,further academic exploration is needed to calculate the indicators of technology niche overlap.Third,our research mainly focuses on the impact of SEIP on technology niche overlap.Hence,future research should delve into the breadth and depth of technology niches and the practical effects of industrial policy in different economic contexts.It will help strengthen theoretical support for the development of strategic emerging industries,provide more scientific and effective guidance for policy formulation,and promote the continuous improvement of international competitiveness and the continuous upgrading of industrial structure.
strategic emerging industry policytechnology niche overlapfinancial constraintsdigital transformation
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