Government Subsidies and the Salary Arrangement of Enterprise R&D Personnel:Evidences from Specialized and Sophisticated SMEs
Specialized and sophisticated SMEs are an indispensable force to stimulate innovation vitality and improve industrial ecology and also an important force to build a"dual circulation"development pattern.As an important means to guide the high-quality development of specialized and sophisticated SMEs,whether government subsidies can encourage enterprises to increase investment in R&D personnel is worthy of in-depth exploration.Based on the data of the specialized and sophisticated SMEs in China's A-share listed companies from 2018 to 2021,this paper discusses the influence and mechanism of government subsidies on the salary arrangement of R&D personnel in enterprises.The results show that the government subsidies can improve the market attention of enterprises and the collaboration ability of industry-university-research through the certification effect,and then promote enterprises to increase R&D personnel investment;compared with the government subsidies of treatment attributes,the impact of the government subsidies of project attributes on the R&D salary arrangement is more significant;government subsidies will have different effects depending on the characteristics of enterprises and regions.Further analysis shows that government subsidies support enterprise salary arrangement can help increase the long-term value of enterprises.This paper provides experience and enlightenment for understanding the positioning of government subsidies in enterprise innovation activities and the subsequent promotion of policies.
Government subsidyProject propertySalary arrangement of enterprise R&D personnelSpecialized and sophisticated SMEs
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