Regional Integration and High-quality Enterprise Development : An empirical study from the Yangtze River Delta

Taking the introduction of the Three-year Action Plan for the Integrated Development of the Yangtze River Delta Region (2018-2020) as a quasi-natural experiment, this paper empirically analyzes the policy impact of regional integration on the high-quality development of enterprises in the Yangtze River Delta region, and analyzes the underlying mechanism by using the difference method and the policy window width from 2013 to 2020. The empirical results show that the integration of the Yangtze River Delta region promotes the high-quality development of enterprises. The mechanism analysis shows that the regional integration of the Yangtze River Delta promotes the high-quality development of enterprises through the technological innovation mechanism, but the fixed assets mechanism inhibits the improvement of the high-quality development of enterprises, and the market transaction mechanism does not play a significant role in promoting the high-quality development of enterprises. The heterogeneity test shows that the regional integration of the Yangtze River Delta can better promote the high-quality development of private enterprises, enterprises in the eastern region and capital-intensive enterprises.