政府补贴对人工智能上市公司的创新产出影响机制研究——基于创新投入的中介效应

Research on the Impact of Government Subsidies on the Innovation Output of Artificial Intelligence Listed Companies——Mediation Effect Based on Innovation Input

迅速发展的人工智能产业成为国家经济增长方式升级的战略重点之一,为人工智能企业提供政策补贴也成为激励企业创新的重要政策工具。然而鲜有研究对于该行业政府补贴的作用效果进行研究。本研究利用人工智能上市公司2015~2017年的微观数据,以人工智能公司创新投入为中介,分析了政府补贴对其创新产出的作用机制。实证分析的结果显示,政府研发补贴促进了人工智能上市公司的创新产出;同时,政府补贴与人工智能公司的创新投入显著正相关;更重要的是,企业创新投入在政府补贴对创新产出影响中发挥中介效应,政府补贴对于企业创新产出的影响中约有31.32%的效应通过企业创新投入发挥作用。

The rapid development of the artificial intelligence industry has become one of the strategic priorities for upgrading the country’s economic growth mode.Providing policy subsidies to artificial intelligence companies has also become an important policy tool to stimulate corporate innovation.However,few studies have studied the effect of government subsidies in this industry.Based on the micro data of listed AI companies from 2015 to 2017,this paper uses the innovation input of AI companies as a mediation to analyze the mechanism of government subsidies on their innovation output.The results of empirical analysis show that government research and development subsidies promote the innovation output of artificial intelligence listed companies;meanwhile,government subsidies are significantly positively related to the innovation input of artificial intelligence companies;more importantly,corporate innovation input play a mediation effect in the impact,about 31.32%of the effects of government subsidies on the innovation output of enterprises play a role through investment in innovation.