Research on the Impact of Innovation-driven Policies on Enterprise Innovation Efficiency Based on PSM-DID Model—Taking Listed Companies in Hubei Yangtze River Economic Belt as an Example

Ming Fang, Jiawei Wang, Dongyang Han, Yifan Wang


Innovation-driven development is a new way of contemporary economic development. Scientific and technological innovation has been at the core of the overall development of China. Under the background of innovation-driven development strategy, governments at all levels have promulgated a large number of innovation-driven policies. Taking 101 listed companies in Hubei Province as samples, this paper uses the model of PSM-DID to examine the effect of innovation-driven policies on the innovation efficiency of enterprises. Through research, it is found that innovation-driven policies are effective in promoting the innovation efficiency of enterprises, which is reflected in the significant increase in the total number of patent applications of affected enterprises compared with those that are not affected by innovation-driven policies. Further research shows that, for state-owned enterprises, innovation-driven policies have more obvious promotion effect on the innovation efficiency of enterprises. However, there is no more significant effect on the central cities and specific industries within the scope of influence. Based on the above research results, this paper puts forward some theoretical suggestions for policy makers.


Innovation-driven policies; Innovation efficiency; Hubei Yangtze River Economic Belt; Number of patent applications; Difference in differences; Propensity score matching


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