政府补贴与企业高质量创新
Government Subsidies and High-Quality Innovation in Enterprises
洪瑶小雪 1许恒 2于畅3
作者信息
- 1. 对外经济贸易大学国际贸易学院(北京100029)
- 2. 中国政法大学商学院(北京100088)
- 3. 北京林业大学经济管理学院(北京100083)
- 折叠
摘要
创新是推动经济持续增长的重要手段.以2009-2021年沪深A股上市企业面板数据为研究样本,理论和实证分析政府补助对企业高质量创新的影响以及作用机制.研究结果表明,研发投入和创新能力在政府补助与企业高质量创新关系中起到中介传导作用;市场势力和行业竞争在上述关系中起到正向调节作用,且行业竞争程度适中和较强的样本中市场势力的正向调节作用较大,行业竞争弱的样本中调节效应不显著;异质性检验结果发现联合申请专利、非国企以及融资约束小的样本中政府补助的高质量创新促进作用最为显著.基于此,应"因势而异""因市而异",对不同市场势力和处于不同市场结构(即竞争程度)的企业进行差异化的补助政策;应"因类而异"地根据专利类型给予不同的补助政策,激发独立型专利的突破性技术创新;应视企业性质和财务状况而异,重点关注民营企业和融资困难的企业;辅以其他扶持政策和监管政策配套实施,以充分发挥政府补助的高质量创新促进效果.
Abstract
Innovation is crucial for sustained economic growth.Using panel data of listed companies on the Shang-hai and Shenzhen Stock Exchanges from 2009 to 2021,this study analyzes the influence and mechanism of government subsidies on high-quality innovation.The research findings indicate that research and development(R&D)investment and innovation capability mediate the relationship between government subsidies and high-quality innovation in enter-prises.Market forces and industry competition positively moderate this relationship.Particularly,in samples with moder-ate to strong industry competition,market forces play a significant moderating role.However,in samples with weak in-dustry competition,the moderating effect is not significant.Heterogeneity tests reveal that government subsidies have the most significant promoting effect on high-quality innovation in samples characterized by joint patent applications,non-state-owned enterprises,and low financial constraints.Based on these findings,it is recommended to tailor subsidy policies to different market forces and market structures(i.e.,competition levels)among enterprises.Additionally,differ-entiated subsidy policies should be implemented based on patent types to stimulate breakthrough technological innova-tions in independent patents.Furthermore,attention should be given to private enterprises and those facing financial con-straints.Complementary supportive and regulatory policies should also be implemented to fully leverage the promoting effect of government subsidies on high-quality innovation.
关键词
高质量创新/政府补助/市场竞争/创新能力Key words
High-quality Innovation/Government Subsidies/Market Competition/Innovation Capability引用本文复制引用
基金项目
国家自然科学基金面上项目(52270174)
出版年
2024
NETL
NSTL
万方数据