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Can institutional opening-up enhance enterprise innovation quality?

Author

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  • Ma, Chiyu
  • Xiang, Yijun

Abstract

This study investigates the impact mechanisms and effects of institutional opening-up on enterprise innovation quality in the context of China's Pilot Free Trade Zone (FTZ) development, using data from listed enterprises from 2010 to 2022. The findings reveal that, institutional opening-up significantly enhances enterprise innovation quality. From the perspective of the resource-based theory, institutional opening-up improves enterprise innovation quality through three key channels-enhancing talent agglomeration effects, optimizing capital allocation efficiency, and strengthening technological support. Heterogeneity analysis shows that the positive impact is more pronounced in state-owned enterprises and technology-intensive enterprises. This study confirms that institutional opening-up can effectively break down traditional institutional barriers to factor mobility by establishing a “policy dividend-resource integration-innovation upgrading” mechanism, offering valuable insights into how institutional innovation can drive improvements in enterprise innovation quality.

Suggested Citation

  • Ma, Chiyu & Xiang, Yijun, 2025. "Can institutional opening-up enhance enterprise innovation quality?," International Review of Economics & Finance, Elsevier, vol. 101(C).
    • Handle: RePEc:eee:reveco:v:101:y:2025:i:c:s1059056025003636
    DOI: 10.1016/j.iref.2025.104200
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