The Influence Of Rent-seeking Behavior On Technological Innovation Activities

Under the market economy,enterprises are the subject of market activities,and the innovation activities of enterprises represent the innovation level of the country.In reality,it can be observed that the technological innovation activities of enterprises are closely related to the rent-seeking behavior of enterprises.Appropriate rent-seeking behaviors help to avoid a series of complicated procedures and processes caused by government approval.But at the same time,it can increase the transaction cost of innovation,guide unhealthy rent-seeking competition among enterprises,and curb the innovation impetus of enterprises.At present,the relationship between rent-seeking and innovation has not been determined.This paper attempted to analyze the influence of rent-seeking behavior on technological innovation activities based on the theory of rent-seeking and the externality of technological innovation.This paper systematically sorted out the concept development of rent-seeking behavior and technological innovation activity.If we regard rent-seeking behavior as a kind of enterprise activity,we can use the theory of enterprise resource allocation to explain the inhibiting effect on innovation.On the other hand,technological innovation has externalities.In order to reduce the impact of externalities of technological innovation,enterprises seek rents for innovation.This paper uses optimization and game theory to analyze the negative effects of rent-seeking on innovation.Then,the data of Chinese listed companies from 2014-2018 and the data of China investment environment survey in 2012 were used for regression test,and instrumental variables were used to control the endogenous problem,indicating that the rent-seeking behavior of enterprises inhibited the technological innovation activities of enterprises as a whole.Finally,this paper analyzes the constraints of tax burden and financial financing on enterprises' rent-seeking and innovation behavior from the statistical results of the World Bank's Investment Environment Survey.The research in this paper confirms that the rent-seeking behavior of enterprises inhibits the technological innovation activities of enterprises,and the conclusion is still valid after eliminating the endogenous problems such as reverse causality and missing variables.The relationship between rent-seeking and innovation is revealed by using various measurement methods at macro and micro levels,which makes the conclusion more reliable.At the same time,the game model is used to prove that the relationship between rent seeking and innovation is affected by the overall trust of market and national innovation system.Finally,further analysis shows that the tax burden of enterprises and the financial financing environment play an inducing role in the impact of rent-seeking on innovation activities.The process and results of the exploration are of great significance to the profit creation of enterprises,industrial transformation and upgrading,and the search for new growth points for market players.Therefore,the government should have a sound innovation policy to remove all kinds of institutional barriers to stimulate the innovation activities within the enterprise;Creating a sound business environment,including optimizing tax policies,providing a level playing field,and improving financial access systems;The government should strengthen the system of social fairness and integrity,establish a sound system of joint incentives for keeping promises and joint punishments for breaking promises,and foster a moral culture of integrity.