区域风险偏好的首发经济效应研究OACHSSCD

Regional risk preference reflects the propensity for risk-taking in economic activities and is an important factor influencing eco-nomic behavior.It has increasingly become a key variable driving the premiere economy.From the perspective of new product development,this paper reveals the impact relationship and mechanism of regional risk preference on the premiere economy.The results indicate that regional risk preference contributes to promoting the increase in the quantity of new products,demonstrating a relatively positive effect on the premiere economy to some extent.This conclusion remains valid after a series of robustness tests and endogeneity treatments.Mechanism tests show that enhancing entrepreneurial activity and increasing investment in new product development are the main driving mechanisms through which regional risk preference exerts positive effects on the premiere economy.Heterogeneity results reveal that regional risk pref-erence plays a more significant role in promoting new product development for enterprises in eastern regions,larger-scale enterprises,and regions with higher levels of a unified national market.Further analysis finds that government regulation weakens the promotional effect of regional risk preference on new product development,reflecting the regulatory-innovation paradox.In contrast,venture capital exhibits a significant synergistic effect in stimulating new product development.This paper provides a new theoretical perspective and practical guidance for regional development of the first-launch economy,expands the boundaries of research on regional risk preference,and offers targeted policy implications for local governments.