Abstract: Whether government regulation can effectively promote corporate innovation and industrial development is worthy of further study. Taking the Regulations on the Administration of Vaccine Circulation and Vaccination revised and issued by the State Council in 2016 as an example, this paper investigates the innovative effect and impact mechanism of vaccine retroactive regulation on vaccine listed companies. The results show that the investment in R&D and patents of vaccine enterprises has been significantly improved after the revision of the regulation. Further analysis reveals that the effect mainly results from the government regulation, which forces enterprises to improve product quality by promoting the establishment of vaccine product traceability system. The conclusion of this paper expands the research on the effectiveness of government regulation and enterprise innovation.

Key words: enterprise innovation, government regulation, product liability system

摘要： 政府规制能否有效促进企业创新和产业高质量发展值得深究。本文以2016年国务院修订发布的《疫苗流通和预防接种管理条例》为案例，考察了疫苗追溯规制对疫苗上市公司的创新效应与影响机制。研究发现，管理条例修订后，疫苗公司的研发投入与专利产出水平都得到显著提升。进一步机制分析表明，有关效应主要源自政府规制通过推动疫苗产品追溯制度的设立，倒逼企业提升产品质量。本文的研究结论扩展了政府规制有效性和企业创新的研究，对于如何完善药品监管制度也具有重要启示。

关键词: 企业创新, 政府规制, 产品责任制度