Qualification and construction enterprise innovation – quasi-natural experiments based on specialized, high-end and innovation-driven “small giant” enterprises

Technological innovation is indispensable for high-quality development in the context of Chinese modernization. In this paper, we use the qualification recognition policy of specialized, high-end and innovation-driven “small giants” as a quasi-natural experiment, and construct a multi-temporal difference model to investigate the effects of qualification recognition specialized, high-end and innovation-driven of “small giants” on construction enterprise innovation and innovation structure. The study finds that the qualification certification of “small giants” promotes the innovation performance of enterprises and optimizes the innovation structure of enterprises. Mechanism tests show that the qualification of “small giants” improves innovation performance and upgrades the innovation structure of enterprises by alleviating financing constraints, optimizing human capital structure and promoting digital transformation. Heterogeneity analysis reveals that the impact of “small giants” qualification on construction enterprise innovation and innovation structure is more significant in private enterprises and regions with higher marketization level in China. This paper further deepens the impact of the qualification certification of “small giants” on construction enterprise innovation and innovation structure, which is of great theoretical and research significance for optimizing China’s SME cultivation policy and innovation-driven development strategy.