摘要
以2012—2017年沪深A股上市公司为样本,研究政府补助和企业全要素生产率之间关系,并将企业研发投入作为路径变量加入模型进行中介效应分析。结果表明:(1)政府补助可以有效提高企业的全要素生产率,其中企业的研发投入发挥了中介作用。(2)政府补助对企业研发投入表现出显著的激励效应。(3)企业异质性分析表明:民营企业的政府补助对企业全要素生产率的促进作用最强,研发投入的中介作用在民营企业中最为显著。能源和医疗保健行业的政府补助与企业全要素生产率显著正相关。所在区域的不同导致企业所获得的政府补助对企业全要素生产率贡献有差异,但整体呈现为正向促进作用。华南、华东地区的政府补助对全要素生产率的激励效应更为显著。
Taking Shanghai and Shenzhen A-share listed companies from the year of 2012 to 2017 as samples,the relationship between government subsidies and total factor productivity(TFP)of enterprises are empirically investigated,and the R&D(research and development)investment of enterprises is added into the model as a path variable to analyze the intermediary effect.The results show that(1)government subsidies can effectively improve TFP of enterprises,among which the R&D investment plays an intermediary role.(2)Government subsidies show a significant incentive effect on R&D.(3)Heterogeneity analysis of enterprises shows that government subsidies to private enterprises have the strongest promotion effect on TFP,and the intermediary effect of R&D investment is the most significant in private enterprises.Government subsidies to energy and health care industries are significantly positively correlated with TFP.Different regions lead to different contributions of government subsidies to TFP,but the overall effect is positive.Government subsidies in the south and east of China have a more significant incentive effect on TFP.
作者
别朝霞
郭晓雅
BIE Zhao-xia;GUO Xiao-ya(School of Economics, Wuhan University of Technology, Wuhan 430070, China)
出处
《北京邮电大学学报（社会科学版）》
2020年第3期27-38,共12页
Journal of Beijing University of Posts and Telecommunications(Social Sciences Edition)
关键词
政府补助
企业研发投入
全要素生产率
government subsidies
research and development investment of enterprises
total factor productivity
