Urban Talent Competition And Enterprise Innovation

The prosperity of the country is based on the talent.At the Fifth Plenary Session of the 18th National Congress of the Communist Party of China,General Secretary Xi Jinping put forward "taking innovation as the first driving force for development,taking talents as the first resource for supporting development,and placing innovation at the core of the overall development of the country".With the implementation of talent-powered country strategy and innovation-driven development strategy,human resources have become the key to adjusting the industrial structure,transforming kinetic energy,and achieving a leap in technological level.This paper constructs dummy variables of talent policies and uses the patent data and main financial data of listed companies in Shanghai and Shenzhen stock exchanges from 2009 to 2019 to analyze the impact of talent policy on corporate innovations from the micro level.The study found that under the guidance of the national talent strategy,the number of patent applications and R&D investment of enterprises increased significantly in the year when the talent policies were released.Breaking down the types of patents,it is found that the number of invention patents and non-invention patents of enterprises has increased,and the number of invention patents has increased more significantly,indicating that under the talent policy,enterprises pay more attention to the research and development of high-quality invention patents,not just the number of patents.Furthermore,this article examines the effects of talent policies in different levels of cities.The study indicates that talent policies will enhance the innovation capabilities of enterprises in the new first-tier cities,thereby narrowing the gap between the innovation capabilities of enterprises in the new first-tier cities and those in the first-tier cities.For other cities,the impact of talent policies on corporate innovation is not significant.Aiming at the heterogeneity of enterprises,this article starts from three aspects:enterprise scale,enterprise ownership and the industry.In terms of enterprise scale,the talent policy will promote the innovation ability of large and medium-sized enterprises,especially the effect on medium-sized enterprises but it has not shown a significant impact on small and micro enterprises.In terms of corporate attributes,the talent policy will improve state-owned enterprises,which is impacted by the non-state-owned enterprises more obviously.In terms of industry types,compared with non-high-tech industries.The natural innovation genes of high-tech enterprises are highlighted under the promotion of talent policy,the talent policy has a more significant impact on high-tech industries.Regarding the influence path of talent policy on enterprise innovation,this paper starts from two perspectives that are human capital level and human capital structure.The research finds that talent policy promotes enterprise innovation by optimizing enterprise human capital structure and promoting the knowledge spillover effect among high-level personnel.The research conclusions of this paper provide a valuable and important policy reference for local governments to implement the strategy of strengthening the country with talents,optimize the allocation of human resources,build innovation-driven cities and realize the coordinated development of China’s regional economies.