智能汽车产业企业技术创新对利润率水平的影响——基于上市公司智能汽车企业的数据

Impact of Technological Innovation of Enterprises in the Intelligent Automobile Industry on the Level of Profit Margin—Based on Data from Listed Intelligent Vehicle Companies

摘要: 本文选取2015~2022年中国A股上市公司中智能汽车企业的面板数据，研究企业技术创新对利润水平的影响，结果表明：企业技术创新可以显著提高利润水平，这一作用在非国有企业中更加显著；企业技术创新能通过企业经营成本影响企业利润水平；全要素生产率在企业技术创新对利润水平的影响中具有调节作用；进一步研究发现，在新智能汽车企业中技术创新对企业利润水平的影响具有显著的正向作用，以及企业技术创新对企业利润水平的影响在国有企业中是负向的。

Abstract: In this paper, the panel data of intelligent automobile enterprises in China’s A-share listed companies from 2015 to 2022 are used to study the impact of enterprise technological innovation on profit level. The results show that: Enterprise technological innovation can significantly improve profit levels, and this effect is more significant in non-state-owned enterprises; Technological innovation can affect the profit level of enterprises through operating costs. Total factor productivity plays a moderating role in the influence of technological innovation on the profit level. Further research shows that technological innovation has a significant positive effect on the profit level of enterprises in new intelligent automobile enterprises, and the impact of technological innovation on the profit level of enterprises is negative in state-owned enterprises.