客户行业竞争地位与企业创新投入

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中图分类号：F274 文献标识码：A 文章编号：1671-9247（2025）03-0009-07

The Competitive Position of Customers’ Industry and Enterprises’ Innovation Input

ZHANGTiesheng，MALuye

（School ofBusiness，Anhui UniversityofTechnology，Ma'anshan243oo2，Anhui，China）

Abstract：Thisstudyfocuses onenterprises and theircustomers whoareallistedcompanies inthe Chinese stockmarket from 2012 to2022，toempiricallytesttheimpactofcustomers'idustrycompetitivepositionontheenterpisesinnovationinstent. Theresearch findsthatcustomerswithahigher industrycompetitivepositiontheenterprises'innovation investment.Themechanismtest shows thatcustomers withahigher industrycompetitivepositionenhancetheenterprises'inovationinvestmentlevel by reducingtheenterprisesfinancingconstraintsdereasingtheocupationoftheenterprises’commercialcredit.Furthermore，when thecustomerconcentrationandcustomerstabilityoftheenterprisesarelowandthegeographicaldistancebetween themisclosethe positiverelationshipbetweencustomers withahigher industrycompetitivepositionandtheenterprises'innovationinvestmentis moresignificant.

Key words： competive position of customers'industry; enterprises’Innovation Input; financing restriction; business credit

一、引言

党的二十大报告强调，坚持创新在我国现代化建设全局中的核心地位。（剩余11419字）