The Impact of Urban Talent Policies on New Firm Entry:From the Perspective of Migrants'Human Capital
Talent policies play a crucial role in attracting market players and revitalizing urban economies.This paper empirically examines the impact of talent policies on the entry of new firms by manually collecting talent policy documents from various local governments and combining them with national population census data as well as industrial and commercial registration data in China.The results indicate that city-level talent policies significantly promote the entry of new enterprises,and this finding remains robust under various checks.Mechanism analyses suggest that talent policies facilitate the influx of highly skilled migrants and enhance migrant diversity,thereby attracting new firms to enter.Heterogeneity analysis reveals that talent policies are more effective in cities with a lesser degree of population aging,a favorable business environment,in medium and small cities,as well as in service and labor-intensive industries.This study unveils the"talent code"behind market vitality from a new perspective,offering fresh policy insights for better leveraging policies and promoting economic prosperity.
NETL
NSTL
万方数据
