Impact of Government Subsidies on Performance of Automotive Manufacturing Enterprises
The relationship between government subsidies and the performance of automobile manufac-turing enterprises,as well as the mediating effect of R&D investment between the two were studied by taking the A-share listed companies in the automobile manufacturing industry in China from 2017 to 2021 as samples.The experimental results show that government subsidies facilitate the performance of automobile manufacturing enterprises.In terms of the nature of property rights,government subsidies do not significantly affect the performance of state-owned automobile manufacturing enterprises but positively promote the performance of non-state-owned automotive manufacturing enterprises.Govern-ment subsidies can boost R&D investment in the automotive manufacturing industry,and R&D invest-ment plays a partial mediating role between government subsidies and enterprise performance.There-fore,it is recommended that the government should improve the subsidy policy while increasing subsi-dies to the automotive manufacturing industry,and enterprises should promote the quality of their inde-pendent R&D.
government subsidiesR&D investmententerprise performancemediating effectautomo-tive manufacturing industry
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