利用官员更替数据匹配世界银行提供的关于中国企业营商环境质量调查数据，旨在从实证的角度探究官员更替、银行授信和企业研发投入之间的关系。研究发现，官员更替和银行授信都对企业研发投入具有显著的促进作用。此外，官员更替这种强烈的外生冲击会强化银行授信对企业研发投入的积极影响。不过，官员更替和银行授信对规模不同企业的研发投入的直接和交互影响存在着差异。上述结果表明，对于政策制定者而言，丰富和完善官员更替制度对加快实施创新驱动发展战略具有重要的实践意义。

using governor's turnover data match with the data of Chinese manufacturing firms about business environment quality provided by World Bank, this paper empirically explore the relationship between governor's turnover, bank credit and firm R&D investment. We find that both governor's turnover and bank credit significantly promote firm R&D investment. In addition, governor's turnover which is a strong exogenous shock strengthens the positive effect of bank credit on firm R&D investment. However, both governor's turnover and bank credit have heterogeneous direct and interactive effect on firm R&D investment in firms of different sizes. the results suggest that enriching and promoting the institutions of governor's turnover have important practical implications to accelerate the implementation of innovation-driven development strategy.