摘要
深入实施创新驱动发展战略，强化企业创新主体地位对促进我国经济发展转向高质
量发展至关重要。而如何发挥企业的创新主体地位、提升企业参与创新的积极性是这一
战略目标能否实现的重要保障。本文探讨了从微观企业行为到宏观经济产出的基本机
制，并期望通过提升内部控制的有效性改善企业治理环境，创造有利于推动创新的企业
运行机制为区域经济高质量增长建立微观基础。
理论研究方面，依托委托代理理论、信息不对称理论、创新理论和内生增长理论，
构建了内部控制、企业创新与区域经济增长三者的理论分析框架；实证研究方面，以
2009-2020年沪深A股上市公司以及分省年度面板数据为研究样本，基于双向固定效应
模型进行多元线性回归，检验了内部控制与企业创新、企业创新与经济增长的关系与作
用机制，并进一步探讨了内部控制在企业创新与经济增长的关系中起到的调节作用。本
文的主要结论有：有效的内部控制能够促进企业创新行为，并产生创新效果；微观企业
创新投入的力度越大，区域经济增长越明显，微观组织行为能影响宏观经济增长；有效
的内部控制强化了企业创新行为，进而对创新影响区域经济增长产生正向促进作用。分
区域研究发现，在沿海地区，有效的内部控制对创新与经济增长的正向促进作用比非沿
海地区更加明显；在深入地机制分析中发现，内部控制有效性之所以促进了企业创新，
是因为有效的内部控制降低了企业研发风险，从而促进了管理层的创新行为。同时，在
完善的治理机制下，有效的内部控制通过企业创新行为增强区域企业技术创新效率、优
化产业结构，进而促进了区域经济增长。
本文的主要贡献在于通过揭示内部控制-企业创新-经济增长的内生传导机制，完善
了微观企业行为到宏观经济产出的逻辑架构，对认识创新驱动发展路径有重要帮助。引
入公司内部治理因素，将内部控制有效性纳入宏观与微观分析范畴后，丰富了企业创新
行为与宏观经济增长关系的现实探讨，为企业治理结构优化和创新活动提供有益参考。
关键词：内部控制；有效性；企业创新；经济增长
I

Abstract
To further implement the innovation-driven development strategy and strengthen the
leading role of enterprises in innovation is of vital importance for China's economic
development to shift to high-quality development. How to give full play to the main position
of enterprises in innovation and enhance the enthusiasm of enterprises to participate in
innovation is an important guarantee for the realization of this strategic goal. This paper
discusses the basic mechanism from micro enterprise behavior to macro economic output, and
hopes to improve the enterprise governance environment by enhancing the effectiveness of
internal control, create enterprise operation mechanism conducive to promoting innovation
and establish the micro foundation for high-quality regional economic growth.
In terms of theoretical research, relying on principal-agent theory, information
asymmetry theory, innovation theory and endogenous growth theory, the theoretical analysis
framework of internal control, enterprise innovation and regional economic growth is
constructed. In the aspect of empirical research, the relationship and mechanism between
internal control and enterprise innovation, enterprise innovation and economic growth are
tested, and the moderating role of internal control in the relationship between enterprise
innovation and economic growth is further discussed. The main conclusions of this paper are
as follows :effective internal control can promote enterprise innovation behavior and produce
innovation effect; The greater the innovation input of micro enterprises, the more obvious the
regional economic growth, and the micro organizational behavior can affect the macro
economic growth; Effective internal control strengthens firms' innovation behavior, which
has a positive effect on regional economic growth. The results show that effective internal
control has a more positive effect on innovation and economic growth in coastal areas than in
non-coastal areas. In the in-depth mechanism analysis, it is found that the effectiveness of
internal control promotes enterprise innovation because effective internal control reduces the
risk of enterprise research and development, thus promoting the management's innovation
behavior. At the same time, under the perfect governance mechanism, effective internal
control enhances the technological innovation efficiency of regional enterprises and optimizes
the industrial structure through the innovation behavior of enterprises, thus promoting the
regional economic growth.
The main contribution of this paper is to improve the logical framework from micro firm
behavior to macro economic output by revealing the endogenous transmission mechanism of
internal control-firm innovation-economic growth, which is of great help to understand the
innovation-driven development path. After introducing corporate internal governance factors
II

and bringing the effectiveness of internal control into the macro and micro analysis category,
it enriches the realistic discussion on the relationship between enterprise innovation behavior
and macroeconomic growth, and provides beneficial reference for the optimization of
corporate governance structure and innovation activities.
Key words: internal control; Effectiveness; Enterprise innovation; Economic growth
III
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