Yiting Huang;

• 1:School of Economics and Trade
• 2: Guangdong University of Foreign Studies

Abstract：

Digital technology has become a catalyst for industrial development and a new engine for economic growth, while talent policies serve as the fundamental driving force behind the advancement of digital technology. Using data from A-share listed companies on the Shanghai and Shenzhen stock exchanges from 2011 to 2020, this study measures the government's support for corporate talent policies through government talent subsidy programs and evaluates the level of corporate digital technology innovation using digital technology patents. The research investigates the relationship between talent policies and corporate digital technology innovation. The findings reveal that talent policies significantly promote corporate digital technology innovation, and this conclusion holds true after a series of robustness and endogeneity tests. Talent policies generate significant effects on supported enterprises, including enhanced innovation willingness, optimized human capital structure, and signaling effects, thereby improving their digital technology innovation capabilities. The innovation incentive effect of talent policies is more pronounced for enterprises with low financing constraints, high-tech enterprises, and those with low media attention. Further research shows that, under the spillover effect of digital technology innovation within the same industry, talent policies bring greater incentive effects to the digital technology innovation of supported enterprises. Additionally, talent policies can mitigate the crowding-out effect of digital technology innovation across different industries on supported enterprises. Extended analysis indicates that regional talent attraction and retention policies, talent cultivation and development policies, talent evaluation and assessment policies, and comprehensive talent support policies significantly promote corporate digital technology innovation. Regions should actively utilize talent policy tools to incentivize enterprises to innovate in the field of digital technology, thereby supporting the vigorous development of the digital economy.

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Authors: Yiting Huang;

References：

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