摘要
利用手工整理的创业板上市公司的政府创新补贴和企业创新面板数据,通过非动态门槛模型和路径分析模型,研究了政府创新补贴对企业创新的影响。研究发现:政府创新补贴有效促进了企业创新;融资约束对政府创新补贴与企业创新的影响存在单门槛效应。进一步研究发现,政府创新补贴对企业R&D投入具有激励效应而非挤出效应;政府创新补贴影响企业创新的作用机制是通过促进企业增加R&D投入而提高企业创新。研究结论提供了政府创新补贴在企业创新中发挥激励效应的经验证据,有利于政府完善创新补贴政策,高效发挥财政支出在激励企业创新中的作用,促进企业自主创新,加快创新驱动发展的步伐。
Based on the government innovation subsidy and enterprise innovation panel data of GEM listed companies,this paper studies the influence of government innovation subsidy on enterprise innovation through non-dynamic threshold model and path analysis model.It is found that government innovation subsidy effectively promotes enterprise innovation.There is a single threshold effect on the impact of financing constraint on government innovation subsidy and enterprise innovation.Further research finds that government innovation subsidy has an incentive effect on enterprise R&D investment,rather than a crowding out effect.Encouraging enterprises to increase R&D investment and then improving enterprise innovation is the mechanism by which government innovation subsidy affect enterprise innovation.The conclusion provides empirical evidence that government innovation subsidy can play an incentive role on enterprise innovation.It is good for the government to improve the innovation subsidy policy,effectively play the role of fiscal expenditure in stimulating enterprise innovation,promote enterprise independent innovation and accelerate the pace of innovation-driven development.
作者
姜启波
谭清美
JIANG Qibo;TAN Qingmei(College of Economics and Management,Nanjing University of Aeronautics and Astronautics,Nanjing 210016,China;College of Economics,Nanjing Audit University,Nanjing 211815,China)
出处
《经济经纬》
CSSCI
北大核心
2020年第6期97-105,共9页
Economic Survey
基金
国家社会科学基金重点项目(19AGL003)
江苏高校哲学社会科学研究一般项目(2019SJA0339)
江苏省社会科学基金重大项目(19EYA002)。
关键词
政府创新补贴
企业创新
融资约束
门槛效应
路径分析
Government Innovation Subsidy
Enterprise Innovation
Financing Constraints
Threshold Effect
Path Analysis Model
