Research On The Influence Of Constructing National Innovation Demonstration Zone On Enterprise Innovation

Innovation is the primary driving force for national development.As the micro-subject of innovation,enterprises play a vital role in the innovation-oriented national strategy.In order to stimulate enterprise innovation,the government has implemented a series of innovation policies in recent years.As an important innovation policy,can the National Independent Innovation Demonstration Zone be able to improve the innovation ability of Chinese enterprises? Few scholars have studied it.Therefore,it is significant to analyze the impact of National Independent Innovation Demonstration Zone on enterprise innovation.Based on the above research background,taking A-share listed companies data in the National High-tech Zone from 2007 to 2017 as the sample and establishing a difference-in-difference model,we conclude that the construction of National Independent Innovation Demonstration Zone can promote the innovation output of companies in the zone significantly.In addition,the impact is heterogeneous:it has a significantly greater effect on promoting non-state-owned enterprises than those state-owned;it has a significantly greater effect on promoting enterprises in eastern regions than those in the Midwest regions;it has the most obvious promotion effect on the innovation performance of technology-intensive enterprises,and has a weaker effect on the capital-intensive enterprises.This means that only the innovation policies adapt to local conditions and based on enterprises’ situation,can fully stimulate the innovation activities of enterprises.Based on the in-depth exploration of the impact of the construction of National Independent Innovation Demonstration Zone on corporate innovation,this article further studies the impact mechanism.We conclude that the impact is mainly achieved through the "policy effect" and "aggregation effect".The "policy effect" mainly assists enterprises to achieve the concentration of innovation resources by financial investment and attracting talents.Mainly through increasing the concentration of enterprises in the zone,the "aggregation effect" strengthens economies of scale.Therefore,only by increasing the financial support,talent attraction and the concentration of the national independent innovation demonstration zone can the construction of corporate innovation capabilities be achieved.