Research On The Impact Of House Price On Enterprise Innovation From The Perspective Of Regional Economic Development Differences

In recent years,with the implementation of national real estate regulation and control policies,housing prices have been relatively stable.However,house prices vary greatly in different regions,which is one of the reasons that lead to differences in the innovation capabilities of enterprises in different regions.Enterprise innovation ability is related to its survival and development.Only by improving innovation ability can it survive in the fierce market competition.According to the theory of endogenous growth,the growth of a regional economy requires the accumulation of a large amount of knowledge and technology,and corporate innovation can fundamentally meet this demand.The uneven distribution of resources caused by overheated real estate investment will become an important external constraint on corporate innovation,which will cause companies to bias the innovation-driven development strategy and become an important factor hindering innovation.The real estate market policy will vary greatly depending on the region,which will also affect the introduction of local innovative talents and the convergence of innovative companies,and affect the economic and innovation development of the region.Therefore,only according to the characteristics of the real estate market in different regions and real estate policies tailored to local conditions,can the problem of inhibiting corporate innovation due to housing prices in backward areas be solved and the regional economic development promoted.Firstly,this paper conducted a thorough analysis of the theory of corporate innovation through a systematic literature review.From the aspects of enterprise innovation,regional economic development,and urban real estate prices,the related research on real estate prices and corporate innovation was combed.The analysis found that the existing research focused on analyzing the dual relationship between real estate prices and corporate innovation,and ignored the enterprise location differences,the economic differences in different regions are huge.Therefore,this article explores the impact of real estate prices on corporate innovation from a regional perspective.Using theories of corporate innovation,regional economic development,and real estate prices,this paper explores the impact of real estate prices on corporate innovation.The analysis found that the more important of the enterprise's innovation ability is its technological innovation ability.In the case where technical and market demands are not met,companies will lose their incentive to innovate,which will inhibit their innovation.In addition,the economic development of the region where the enterprise is located will also have an important impact on the technological innovation of the enterprise.This paper builds a fixed-effects model based on panel data on house prices in 35 cities in China,and explores the impact of house price differences in different cities on corporate innovation.The research results show that urban real estate prices are significantly negatively correlated with corporate innovation capabilities.Rising real estate prices in different cities have different degrees of restraint on corporate innovation.Compared with the central and western regions,the eastern region has a more pronounced suppression effect.In addition,for new and young companies,the dampening effect of house prices on innovation will diminish as the company ages.At the same time,this article examines the impact of real estate prices on corporate investment.This paper finds that the less investment in low-price housing enterprises in the relatively backward regions is more conducive to the innovation investment of small and micro enterprises,while the developed cities have a significant impact on corporate innovation due to the concentration of innovative talents.Finally,based on the restraint of rising real estate prices on corporate innovation,this article put forward policy recommendations.These suggestions provide a reference for the government to strengthen the management of real estate finance,stabilize real estate prices,and reduce corporate financing constraints,thereby promoting corporate innovation activities.Key recommendations include: Enterprises in the eastern,central,and western regions should strengthen their operating income and increase investment in research and development to promote the improvement of their innovative capabilities.For new enterprises,increasing the input of innovative talents is the main way to deal with the restraint effect brought by rising real estate prices and improve the innovation ability of enterprises.This paper studies the impact of urban house price differences on corporate innovation in China,which is helpful for real estate companies to understand the characteristics of regional differences in real estate prices in China,to formulate effective market development strategies,and to improve corporate innovation capabilities.