Government Subsidy,Internal Control and Enterprise Innovation Performance——Based on Empirical Evidence of Listed New Energy Vehicle Companies
The panel data of new energy vehicle listed companies from 2012 to 2022 are collected,and the dual fixed effect model is used to empirically test the impact of government subsidies on enterprise innovation performance and the moderating effect of internal control.It is found that government subsidies can significantly improve the substantive and strategic innovation performance of new energy automobile enterprises,internal control will strengthen the enhancement role of government subsidies on substantive innovation,and weaken the enhancement role of government subsidies on strategic innovation.Further grouping enterprises according to the nature of property rights,it is found that the effect of government subsidies on innovation performance in state-owned enterprises is similar to that of the whole sample,but internal control can only weaken the effect of government subsidies on strategic innovation.In non-state-owned enterprises,when government subsidies increase,substantive innovation decreases significantly,while strategic innovation increases significantly.In other words,government subsidies bring about the behavior of enterprises"seeking support",and high-quality internal control can restrain such behavior.
government subsidiesinternal controllisted new energy vehicle companiessubstantive innovationstrategic innovation
NETL
NSTL
万方数据
