关键技术引进受限与高质量创新

Restrictions on the Introduction of Key Technologies and High-Quality Innovation

摘要: 我国正处于高质量发展的关键阶段，伴随全球发展格局的深度调整，外部资源的可获得性与竞争态势发生显著变化，深刻影响了中国企业的创新行为。本文以2012~2024年中国A股上市公司为样本，实证检验了关键技术引进受限对企业创新行为的意外影响。研究发现，外部技术的可获得性受限迫使企业显著提升其高质量创新水平，该结论在经过一系列稳健性检验后依然成立。异质性分析显示，这一倒逼效应在风险厌恶程度较低、管理者短视程度较低、融资约束较小以及资产专用性较低的企业中更为显著。最后，本文进一步分析表明，由技术引进受阻所引致的高质量创新最终会转化为企业绩效的提升。

Abstract: China is currently in a crucial stage of high-quality development. With the profound adjustment of the global development landscape, the availability and competitive situation of external resources have undergone significant changes, which have profoundly influenced the innovation behaviors of Chinese enterprises. This paper uses the samples of Chinese A-share listed companies from 2012 to 2024 to empirically test the unexpected impact of restricted access to key technologies on enterprises’ innovation behaviors. The study finds that the restricted availability of external technologies forces enterprises to significantly enhance their high-quality innovation levels, and this conclusion remains valid after a series of robustness tests. Heterogeneity analysis shows that this compulsion effect is more significant in enterprises with lower risk aversion, lower managerial short-sightedness, less financing constraints, and lower asset specificity. Finally, this paper further analyzes that the high-quality innovation caused by the obstruction of technology introduction will eventually translate into an improvement in enterprise performance.