Research on the Impact of Government Subsidies on the High-Quality Development of Agricultural Enterprises——Based on Empirical Data of Listed Companies in Shanghai and Shenzhen
Agriculture is the cornerstone of building a modern country and Agricultural modernization is an important prerequisite for the high-quality development of China's economy.With the implementation and promotion of the rural vitalization strategy,the state's support for agricultural enterprises has been increasing.Based on the empirical data of China's A-share listed agricultural companies from 2017 to 2021,this paper selects the fixed effect and mediation effect models to test the impact of government subsidies on the high-quality development of agricultural enterprises.The results of the study show that government subsidies can effectively promote the high-quality development of agribusiness,and through R&D investment in the total factor productivity of agribusiness,in which R&D investment plays a part of the intermediary role,verifying the path-transfer mechanism of"government subsidies-R&D investment-high-quality development of agribusiness".The R&D investment plays a partly intermediary role,verifying the path transmission mechanism of"government subsidy-R&D investment-quality development of agricultural enterprises".At the same time,the impact of government subsidies on the high-quality development of agribusiness is somewhat different for agribusinesses with different forms of ownership and different industrial chains.From the results of the study,it is proposed that the government should continue to increase the policy support for agricultural enterprises,and better play the role of the promotion of subsidy funds.
Government SubsidiesR&D InvestmentAgribusinessEnterprise High-quality Development
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