Can institutional opening-up enhance enterprise innovation quality?

IF 4.8 2区经济学 Q1 BUSINESS, FINANCE

International Review of Economics & Finance Pub Date : 2025-05-27 DOI:10.1016/j.iref.2025.104200

Chiyu Ma, Yijun Xiang

{"title":"Can institutional opening-up enhance enterprise innovation quality?","authors":"Chiyu Ma, Yijun Xiang","doi":"10.1016/j.iref.2025.104200","DOIUrl":null,"url":null,"abstract":"<div><div>This study investigates the impact mechanisms and effects of institutional opening-up on enterprise innovation quality in the context of China's Pilot Free Trade Zone (FTZ) development, using data from listed enterprises from 2010 to 2022. The findings reveal that, institutional opening-up significantly enhances enterprise innovation quality. From the perspective of the resource-based theory, institutional opening-up improves enterprise innovation quality through three key channels-enhancing talent agglomeration effects, optimizing capital allocation efficiency, and strengthening technological support. Heterogeneity analysis shows that the positive impact is more pronounced in state-owned enterprises and technology-intensive enterprises. This study confirms that institutional opening-up can effectively break down traditional institutional barriers to factor mobility by establishing a “policy dividend-resource integration-innovation upgrading” mechanism, offering valuable insights into how institutional innovation can drive improvements in enterprise innovation quality.</div></div>","PeriodicalId":14444,"journal":{"name":"International Review of Economics & Finance","volume":"101 ","pages":"Article 104200"},"PeriodicalIF":4.8000,"publicationDate":"2025-05-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"International Review of Economics & Finance","FirstCategoryId":"96","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S1059056025003636","RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"BUSINESS, FINANCE","Score":null,"Total":0}

引用次数: 0

Abstract

This study investigates the impact mechanisms and effects of institutional opening-up on enterprise innovation quality in the context of China's Pilot Free Trade Zone (FTZ) development, using data from listed enterprises from 2010 to 2022. The findings reveal that, institutional opening-up significantly enhances enterprise innovation quality. From the perspective of the resource-based theory, institutional opening-up improves enterprise innovation quality through three key channels-enhancing talent agglomeration effects, optimizing capital allocation efficiency, and strengthening technological support. Heterogeneity analysis shows that the positive impact is more pronounced in state-owned enterprises and technology-intensive enterprises. This study confirms that institutional opening-up can effectively break down traditional institutional barriers to factor mobility by establishing a “policy dividend-resource integration-innovation upgrading” mechanism, offering valuable insights into how institutional innovation can drive improvements in enterprise innovation quality.

查看原文本刊更多论文

制度开放能否提高企业创新质量？

本文利用2010 - 2022年中国自由贸易试验区上市企业的数据，研究了制度开放对企业创新质量的影响机制和效应。研究发现，制度开放显著提高了企业创新质量。从资源基础理论的角度看，制度开放通过增强人才集聚效应、优化资本配置效率和加强技术支撑三个关键渠道提升企业创新质量。异质性分析表明，国有企业和技术密集型企业的正向影响更为明显。本研究证实了制度开放可以通过建立“政策红利-资源整合-创新升级”的机制，有效打破传统的阻碍要素流动的制度障碍，为制度创新如何推动企业创新质量的提升提供了有价值的见解。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

求助全文

约1分钟内获得全文求助全文

来源期刊

International Review of Economics & Finance Multiple-

CiteScore

7.30

自引率

2.20%

发文量

253

期刊介绍： The International Review of Economics & Finance (IREF) is a scholarly journal devoted to the publication of high quality theoretical and empirical articles in all areas of international economics, macroeconomics and financial economics. Contributions that facilitate the communications between the real and the financial sectors of the economy are of particular interest.