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| Will the Cultivation of "Little Giant" Enterprises Boost the Innovation Vitality of Manufacturing SMEs？ Evidence from the Policies for SRDI SMEs |
| Ding Yongjian,Wu Xiaomeng |
| (School of Economics and Management, Dalian University of Technology, Dalian 116024, China) |
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Abstract The backlash against globalization has caused a huge impact on the global trade pattern and the layout of the industrial and supply chain. It is critical to ensure the safety and stability of the industrial and supply chain, so that the real economy can achieve high-quality economic development. To enhance the independence and controllability of the industrial chain and supply chain, China has been promoting the development of SRDI SMEs. Many "Little Giant" enterprises that are deeply engaged in professional fields and key technologies are thus benefited. The "Little Giant" enterprises′ cultivation is a new practice to improve the stability and security of the industrial chain and supply chain. Compared with the previous scientific and technological innovation policies, it emphasizes the innovation vitality of enterprises at key nodes of the industrial chain, so as to complement the industrial chain with technology. By the end of 2022, China had cultivated 8 997 state-level "Little Giant" enterprises located in the core areas of the industries as the key links of the industrial chain. They are featured with outstanding innovation capabilities, large market shares as well as high quality and efficiency. However, as a policy of the Ministry of Industry and Information Technology to promote the development of SMEs, can the cultivation of "Little Giant" enterprises truly ensure the safety and stability of the domestic industrial chain and supply chain? Is it helpful to improve the economic benefits of the industry? Can this policy help to complement the chain with technology? Is it effective to boost the innovation vitality of manufacturing SMEs at key nodes of the industrial chain?#br#This paper makes a deep analysis of the positive effects and hindering factors of the cultivation policy of the "Little Giant" enterprises in terms of innovation vitality of manufacturing SMEs. The Malmquist Index is constructed based on the panel data of China's manufacturing SMEs from 2014 to 2020 to measure the innovation vitality of China′s manufacturing SMEs and observe their dynamic changes. Then drawing on the Tobit model, this study analyzes the impact of "Little Giant" enterprise cultivation on the innovation vitality of manufacturing SMEs. Meanwhile from the perspective of industry heterogeneity, it observes the differences in the innovation vitality of manufacturing SMEs in different sub-industries, and analyzes the internal driving force to improve the innovation vitality of manufacturing SMEs in different sub-industries. It is found that the cultivation of "Little Giant" enterprises significantly promotes the innovation vitality of manufacturing SMEs. This positive effect is achieved by promoting the improvement of technological efficiency. The impact of the cultivation of "Little Giant" enterprises on the vitality of manufacturing SMEs in labor-intensive, capital-intensive and technology-intensive industries is significantly heterogeneous. Specifically, the cultivation of "Little Giant" enterprises has no significant impact on the innovation vitality of SMEs in capital-intensive manufacturing. Whereas there is a significant relationship between promoting the innovation vitality of SMEs and labor-intensive and technology-intensive manufacturing. The cultivation of "Little Giant" enterprises has a significant effect on promoting the technological efficiency of all manufacturing SMEs.#br#On the basis of the research conclusions, this paper puts forward a series of suggestions for government policies, including the optimization of the "Little Giant" enterprises cultivation system, strengthening of the technology supply chain mechanism, the safety and stability of the industrial chain and supply chain, and the necessity to emphasize the role of policy guidance. It is also proposed to strengthen the supply of common technologies and high-end technical services for SMEs, treat the technical problems according to the local conditions of SMEs in the manufacturing industry, and boost their innovation vitality. Meanwhile the acceleration of technological progress is dependent on the precise delivery of scientific and technological policies. Therefore, it is essential to work on the effective combination of "Little Giant" enterprises cultivation policies and other science and technology policies, which is an issue that should be paid attention to for future research.#br#
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Received: 25 July 2022
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