Research on the impact of the Small and Medium-Sized Enterprise Promotion Law on the innovation boundary of enterprises

Zhou Yuzhong; Wu Bo; Wang Lun; Luo Qianqian

doi:10.19571/j.cnki.1000-2995.2026.05.017

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Science Research Management ›› 2026, Vol. 47 ›› Issue (5) : 170-179. DOI: 10.19571/j.cnki.1000-2995.2026.05.017 CSTR: 32148.14.kygl.2026.05.017

Research on the impact of the Small and Medium-Sized Enterprise Promotion Law on the innovation boundary of enterprises

Zhou Yuzhong ¹ ,
Wu Bo ²^,³ ,
Wang Lun ⁴ ,
Luo Qianqian ⁴

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Abstract

Small and medium-sized enterprises (SMEs) are the new force of innovation and the backbone of China's high-quality development. Evaluating the economic effects of the Small and Medium-sized Enterprise Promotion Law is of great significance for promoting innovation in small and medium-sized enterprises. This paper empirically tested the impact of the Small and Medium-sized Enterprise Promotion Law on the innovation boundary of enterprises based on the data of SMEs listed on the Shanghai and Shenzhen A-shares from 2013 to 2022. It was found that the implementation of the Small and Medium-sized Enterprise Promotion Law has significantly promoted the expansion of innovation boundaries for enterprises, and the Law has also promoted the expansion of enterprise capability boundaries. From the perspective of internal mechanisms and boundary conditions, the Small and Medium-sized Enterprise Promotion Law has eased financing constraints, corrected resource misallocation, and improved enterprise innovation capabilities; However, the "Matthew effect" of the digital economy development has weakened the positive impact of the Small and Medium-sized Enterprise Promotion Law on expanding the innovation boundaries of enterprises. The heterogeneity analysis found that in non-state-owned enterprises, manufacturing enterprises, and regions with higher levels of intellectual property protection, the effect of the Small and Medium-sized Enterprise Promotion Law on expanding the boundaries of enterprise innovation is more significant. This paper has revealed the role of legal factors in expanding the innovation boundaries of SMEs, enriched the motivation theory of SMEs' innovation, and will provide important insights for the government on how to support the innovative development of SMEs.

Key words

Small and Medium-sized Enterprise Promotion Law / innovation boundary / financing constraint / resource mismatch / digital economy development level

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Zhou Yuzhong , Wu Bo , Wang Lun , et al. Research on the impact of the Small and Medium-Sized Enterprise Promotion Law on the innovation boundary of enterprises[J]. Science Research Management. 2026, 47(5): 170-179 https://doi.org/10.19571/j.cnki.1000-2995.2026.05.017

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