Intangible capital,as the core factor to drive enterprise value creation and growth,will gradually become the internal driving force to promote the high-quality development of manufacturing enterprises.This paper applies the Cobb-Douglas production function model,and adoptes the 14309 unbalanced panel data of listed manufacturing companies from 2009 to 2021,to deeply explores the impact of intangible capital on the high-quality development of China's manufacturing enterprises.The results show that:(1)In general,intangible capital has a significant incentive effect on the high-quality development of enterprises.Compared with innovation capital and organizational capital,human capital and reputation capital have a greater promotion effect.(2)Further analysis shows that human capital and reputation capital can have incremental effects on enterprises'high-quality development through innovation capital.(3)Different types,property rights and scales of enterprises have obvious heterogeneous effect on the relationship between intangible capital and high-quality development of enterprises.The research conclusion not only provides empirical support for the endogenous economic growth theory,but also provides effective evidence for the high-quality development path of enterprises.
关键词
无形资本/企业高质量发展/内生经济增长理论/异质效应
Key words
intangible capital/high-quality development of enterprises/endogenous economic growth theory/heterogeneous effect
维普
万方数据