Abstract: To identify the impact and transmission mechanism of technology spillovers on corporate competitive environment correctly can help clarify the affecting path of technology spillover on corporate production, so as to allocate production factors and other resources among the enterprises more efficiently. From the perspective of spatial economics, this paper extends the regression model of technology spillovers, and performs an empirical analysis based on the micro dynamic panel data of A- and B-share listed companies in Shanghai and Shenzhen Stock Exchanges from 2000 to 2016. The findings show that, firstly, when the technological level and the other conditions remain the same, the intra-industry technology spillovers can push the competition that they are faced to be eased on average. Secondly, the inter-industry technology spillovers will significantly increase the competitive pressure that the enterprises are faced. Thirdly, the lagging items of the competition degree will make the current competition degree adjust in the opposite direction. The result of the mechanism study reveals that the impact of technology spillovers on the corporate competitive environment is transmitted through the flow of production factors among enterprises; the re-allocation of the production factors of different types has rather big differences in its impacts on the corporate competitive environment of different industries. These conclusions have practical significance in the distinguishing of the heterogeneous production effect of technology spillovers and the depicting of the law of dynamic evolution of corporate competitive environment, thus they can effectively guild the enterprises to obtain the factors and carry out production in competitive environment.

Key words: technology spillovers, corporate competitive environment, production factors, spatial effect, dynamic panel model