Abstract：This paper takes the export control entity list implemented by the United States to China as a scenario,and analyzes the internal mechanism of technological blockade affecting the choice of technological innovation strategies of Chinese enterprises.The study found that the technological blockade imposed by the United States on China significantly affects the choice of innovation strategies of Chinese enterprises,that is,it inhibits the strategic innovation of enterprises,but promotes the substantive innovation of enterprises.In private enterprises,enterprises with high investor concern,enterprises with high government subsidy enterprises and enterprises in the southern region,technology blockade can promote substantive innovation.The mechanism test conclusion shows that inefficient investment is the main channel for technology blockade to affect the substantive innovation of enterprises,and financing constraints are the technology blockade affects corporate strategy main channel of sexual innovation.Further analysis found that substantive innovation is conducive to alleviating the risk of corporate stock price crash that has been exacerbated by technological blockades.The conclusions of this paper deepen the relevant research on corporate innovation selection strategies,help to scientifically evaluate and break the US technology blockade against China and provide empirical evidence for the independent breakthrough of key technology.
程仲鸣, 陈宇航. 技术封锁对企业创新策略选择的影响——基于美对华 “实体清单”的经验证据[J]. 中国科技论坛, 2023(2): 135-145.
Cheng Zhongming, Chen Yuhang. The Impact of Technology Blockade on Enterprises' Choice of Innovation Strategy ——Empirical Evidence Based on the U.S.Entity List with China. , 2023(2): 135-145.
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