| CAI Qingfeng,WU Guanchen,CHENG Zhangji,YAN Jiajia.The Corporate Innovation Effect of Affordable Housing Project:Evidence from the Construction of Affordable Housing Around Companies[J].The Journal of quantitative and technical economics,2025,(6):90-110 |
| 城市安居工程的企业创新效应——基于上市公司周边保障性住房建设的实证发现 |
| The Corporate Innovation Effect of Affordable Housing Project:Evidence from the Construction of Affordable Housing Around Companies |
| |
| DOI： |
| 中文关键词: 保障性住房 人力资本 创新效率 企业创新 |
| 英文关键词: Affordable Housing Talent Factor Innovative Efficiency Corporate Innovation |
| 基金项目: |
|
| Hits: |
| Download times: |
| 中文摘要: |
| 城市安居工程作为中国房地产业未来发展新模式构建的重要一环,在惠民生促发展的同时,对提升周边地区经济发展具有重要意义。本文基于中国土地市场网有关保障性住房建设的20万余条数据,评估了保障性住房建设对周边企业创新的影响。研究发现,上市企业周边保障性住房供应面积越大,企业创新绩效越高,该效应在采用工具变量法等一系列检验后保持稳健。机制检验表明,企业周边的保障性住房通过提高企业员工的创新效率,提升企业创新投入比重等渠道促进企业创新。进一步研究发现,保障性住房对企业创新的促进作用主要集中于距离城市核心区较近的企业、行政等级更高的城市中,地铁等交通基础设施不仅能提升保障性住房的创新促进作用,还能扩大其影响范围。此外,伴随着企业创新水平的提升,企业周边的保障性住房建设提高了企业全要素生产率,增强了企业对其周边区域的创新溢出效应。本研究有助于对过去十余年国家住房保障政策的微观影响进行试探性验证,同时也为地方政府优化住房保障政策以提升区域创新活力,实现创新驱动发展提供经验证据及政策启示。 |
| 英文摘要: |
| People’s city is built by the people, and the people’s city is built for the people. The ability of a society to sustain its development is contingent on the resolution of its pressing, complex, and often disconcerting challenges. By empowering individuals to become the primary agents of their own advancement, a society can ensure the perpetual dynamism of its development. Thus, the government has proposed to “accelerate the establishment of a multi-principal supply, multi-channel security, rent and purchase housing system.” As of 2025, China had undertaken a cumulative investment of 14.8 trillion yuan and constructed more than 68 million units of various types of affordable housing and shantytown renovation housing—more than 170 million people are happy to dream of living in peace and security. However, this significant development has not garnered sufficient attention from the academic community. Most research in this area is based on theoretical deduction and model derivation, with only a limited number of scholars utilizing realistic data to quantitatively assess the actual impact of affordable housing.Thus, the planning and construction of affordable housing are pivotal components in formulating a novel model for the future evolution of China’s real estate industry. This initiative is not only a welfare measure but also a strategic plan for development and transformation. In this study, we collected over 200,000 data points related to affordable housing land sales on “www.landchina.com” using the Python programming language. We then employed a geographical information system to match the latitude and longitude information of these points to identify the presence of affordable housing developments around enterprises. Our study examines the impact of these housing developments on the innovation activities of the enterprises in these areas. The study yielded five key findings. First, the results of the benchmark regression indicate that the construction of affordable housing near enterprises is conducive to promoting enterprise innovation. Second, the results of the mechanism test indicate that affordable housing can enhance the innovation performance of enterprises through two channels: enhancing the innovation efficiency of employees and increasing the innovation investment of enterprises. Third, the promotion effect of affordable housing on enterprise innovation is stronger in the samples of enterprises that are closer to the core of the city and those that are in cities with a higher administrative level. Fourth, transportation infrastructure such as subways not only enhances the innovation-promoting effect of affordable housing but also expands the scope of its influence. Fifth, along with the increase in firms’ innovation capacity and innovation output, the construction of affordable housing around enterprises enhances the enterprises’ total factor productivity and improves listed enterprises’ innovation spillovers to surrounding regions.In comparison with previous literature on the subject, this study makes the following contributions. First, this study utilizes the actual floor area and latitude/longitude information of affordable housing disclosed by “www.landchina.com.” It also matches various data from listed firms and tax enterprise surveys to carry out empirical research. This makes the data more novel and the research conclusions more plausible. Second, the empirical findings demonstrate that affordable housing in proximity to enterprises can enhance their innovation capabilities, thereby broadening the scope of related research on the economic implications of urban housing initiatives. Third, this study’s empirical analysis revealed that enhancing security housing in the vicinity of enterprises can improve their innovation levels. The talent stability enhancement experienced by enterprises can motivate enterprises to make long-term investments and innovation development, thereby enriching related research on the factors influencing the innovation investment of enterprises in the field of corporate finance. Furthermore, this study contributes novel insights from the perspective of the micro-enterprise level in the field of urban economics and other disciplines. Fourth, the findings add empirical evidence from the micro-enterprise level to the field of urban economics. The study also provides empirical evidence and corresponding policy inspiration for local governments to further improve the housing security system, promote the transformation of the real estate development model, and promote the enhancement of the level of regional innovation and economic and social development. |
|
View Full Text
View/Add Comment Download reader |
| Close |
|
|
|
