新企业进入能否激励在位企业新质生产力提升？——来自全国工商注册企业数据的证据

Abstract

The entry of new enterprises stimulates market vitality. Based on the remarks on new quality productivity, this paper conducts a multi-dimensional quantitative analytic system featuring 'element-structure-function' and uses the variation coefficient method to calculate the new quality productivity index of A-share listed incumbent enterprises from 2010 to 2022. By counting the entry of new enterprises based on the big data of national industrial and commercial registered enterprises, this paper explores its spillover effect on the new quality productivity of incumbent enterprises. The research finds that the entry of new enterprises significantly enhances the new quality productivity level of incumbent enterprises, and this conclusion has passed multiple robustness tests and endogeneity tests. The mechanism analysis reveals that the entry of new enterprises into the market enhances the new quality productivity of incumbent enterprises through the following three mechanisms. First, the 'market competition effect' prompts incumbent enterprises to adopt multiple strategies to cope with intense competition; second, the 'resource allocation effect' directly improves resource use efficiency, provides rich productive choices, and promotes collaborative cooperation among enterprises; third, the 'technology spillover effect' enables incumbent enterprises to learn and use the advanced technologies brought by new enterprises. In addition, the entry of new enterprises has a greater incentive effect on enhancing the new quality productivity of incumbent enterprises in regions with a high degree of market orientation, technology-intensive industries, and large-scale enterprises.