How Industrial Collaborative Agglomeration Empowers the"Specialized,Refined,Differential and Innovative"Development of SMEs:An Empirical Analysis Based on the Enterprises on Small and Medium-sized Board and the ChiNext Board
The"specialized,refined,differential and innovative"(SRDI)enterprises have been focusing on segmented mar-kets for a long time by integrating innovative elements with key links,and mastering the"unique skills".SRDI enterprises are important support for the future industrial chain and the main force to break through the"bottleneck"of key technolo-gies.Industrial collaborative agglomeration is a new trend in the development of modern industries,manifested as the process of vertically related and horizontally complementary industries achieving industrial integration through value chain reconstruction and supply chain integration.It has the characteristics of economies of scale,economies of scope,and ex-ternal economies,and can provide more cooperation opportunities and development space for small and medium-sized en-terprises.The industry generally believes that the industrial ecosystem of agglomeration and symbiosis is the matrix for cultivating SRDI enterprises.Therefore,does industrial collaborative agglomeration have a significant promoting effect on SRDI development in small and medium-sized enterprises?This article takes small and medium-sized board and ChiNext board enterprises on the Shenzhen Stock Exchange as research samples,matches the urban-level industrial collaborative agglomeration index according to the cities where the enterprises are located,and uses various econometric techniques such as the double fixed effect model,intermediary effect model,instrumental variable method,and propensity score matching method to empirically test the impact of industrial collaborative agglomeration on the SRDI development of small and medium-sized enterprises.It is found that,firstly,multiple robustness tests,including endogeneity tests,show that industrial collaborative agglomeration can significantly promote the SRDI development of small and medium-sized enterprises.Second,there is significant enterprise heterogenei-ty,city heterogeneity,and industry heterogeneity in the promotion effect of industrial collaborative agglomeration on the SRDI development of small and medium-sized enterprises.Specifically,this promotion effect is more significant in enter-prises with low supplier concentration,cities with higher levels of digitalization,and high-end productive service indus-tries.Thirdly,industrial collaborative agglomeration can promote the SRDI development of small and medium-sized enter-prises by promoting technological innovation,reducing transaction costs,and reducing operational risks.Moreover,tech-nological innovation,transaction costs,and operational risks all have a partial mediating effect.The research in this article deepens the understanding of the internal relationship between collaborative agglomeration effects and the SRDI path,pro-viding useful references for promoting the transformation and development of small and medium-sized enterprises,con-structing a modern industrial chain supply chain system supported by SRDI enterprises,and enhancing the global competi-tive advantage of China's manufacturing industry.Compared to existing research,the possible marginal contribution of this study is threefold.(1)From a research per-spective,the promotion of industrial collaborative agglomerations as well as the SRDI development of small and medium-sized enterprises,are both key links that support the high-quality development of China's manufacturing industry,which has inherent connections.This study provides a detailed examination of the impact of industrial collaborative agglomera-tion on the SRDI development of small and medium-sized enterprises,providing a new perspective supplement for research in related fields.(2)In terms of research content,this study analyzes the heterogeneous impact of industrial collaborative agglomeration on the SRDI development of small and medium-sized enterprises from the perspectives of supply chain con-centration,digitalization level,and industry heterogeneity.It also explores the path of industrial collaborative agglomera-tion influencing the SRDI development of small and medium-sized enterprises from three aspects:enterprise technological innovation,transaction costs,and operational risks.(3)The study provides empirical evidence to promote the develop-ment of SRDI small and medium-sized enterprises.By matching the urban-level industrial collaborative agglomeration in-dex with the enterprise data of small and medium-sized board and ChiNext board enterprises on the Shenzhen Stock Ex-change,the study empirically tests the impact of industrial collaborative agglomeration on the SRDI development of small and medium-sized enterprises,which supplements the empirical evidence that industrial collaborative agglomeration pro-motes the SRDI development of small and medium-sized enterprises.
Industrial Collaborative AgglomerationSpecialized,Refined,Differential and InnovationTechnological In-novationTransaction CostsOperational Risks
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