Exchange rate changes, banking competition and enterprise innovation output Evidence of listed companies in strategic emerging industries

摘要

Taking the listed companies in strategic emerging industries and selected the companies that constitute the Shanghai Stock Exchange China Strategic Emerging Industry Composite Index as samples, this paper uses provincial panel data from 2012 to 2016 to assess the impact of banking competition and exchange rate changes on the innovative products of strategic emerging companies, and tests the relationship out. The results show that banking competition and exchange rate changes have a significant positive impact on the innovation output of enterprises. From the perspective of enterprise scale, increased competition in the banking industry is more conducive to the innovation output of large enterprises. The smaller the enterprise scale, the more sensitive its innovation output is to exchange rate changes.