Talent Policy, R&D Personnel Recruitment and Corporate Innovation

Abstract

This paper analyzes the impact of talent policy on the R&D personnel recruitment and corporate innovation. The research is based on more than 5.8 million online recruitments from listed companies from 2017 to 2018. The study makes five principal findings. Firstly, companies affected by talent policy have significantly increased the number of R&D personnel recruited. Secondly, at the policy level, the incentive effect varies according to different levels of talent policy subsidies and threshold requirements, with more significant effects observed where subsidies are higher and threshold requirements are lower. Thirdly, at the enterprise level, the incentive effect is more significant for high-tech enterprises, better governance companies, and non-state owned enterprises. Fourthly, at the city level, the incentive effect is more significant in cities with better economic development, higher administrative levels, and better scientific research support environments. Finally, after the introduction of talent policy, there have been significant improvements in enterprises' R&D investment, patent output and R&D efficiency. In terms of R&D personnel recruitment, this paper provides micro-level evidence for the influence effect, and identifies specific mechanisms and boundary conditions of talent policy on corporate innovation. It expands the research on the influence effect of government and institutional factors on corporate innovation. In addition, it provides reference for accelerating the building up of a talent-strong country, deepening the implementation of innovation-driven development strategy and realizing economic transformation and upgrading.

Keywords

talent policy / R&D personnel recruitment / corporate innovation

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