政府补贴对软件企业创新绩效的影响研究

Research the impact of government subsidy on R&D development and innovation performance of software enterprises

政府补贴是企业研发和创新最直接的外部资源支持,软件产业是发展数字经济的先导产业,如何通过政府补贴更好地推动软件企业发展值得思考。基于资源基础理论,以软件产业上市公司为研究对象,采用面板固定效应负二项回归,从政府补贴规模、政府顺补贴(即企业盈利时补贴)、政府逆补贴(即企业亏损时补贴)几个角度,探究了政府补贴对企业研发投入和创新绩效关系的调节作用。结果表明:企业研发投入对企业创新绩效有促进作用;政府补贴规模正向调节研发投入与创新绩效之间的关系;政府顺补贴强化了研发投入对创新绩效的正向影响,而政府逆补贴对研发投入和创新绩效之间的关系是负向影响。研究结论对政府补贴政策制定和企业创新实践提供参考和启示。

It is not enough to rely only on internal resources for the improvement of enterprise innovation capabilities,but also needs the support of external resources.Market failure caused by innovation externalities can be alleviated by government intervention,in which government subsidy is the most direct external resource support for enterprise R&D and innovation.In the context of the digital economy,the software industry is both the basic and leading for development.The digital transformation of traditional industries cannot be separated from the support of the software industry.Therefore,higher requirements are placed on software enterprises innovation,and they also face more risks and uncertainties.Since the independent development of the software industry,the government has provided support from policy subsidy,product procurement and some other aspects,while,as an important external supplement to enterprise innovation,how government subsidy can better promote the development of software enterprises and guide them to release more innovation vitality is worth thinking about.Existing studies have not reached a unified view on the impact of government subsidy on enterprise innovation,and according to the different living conditions of enterprises,there are insufficient researches on when the government implement subsidies more effectively.Few studies have included government subsidy,enterprise R&D investment and enterprise innovation performance under the unified framework.Therefore,based on the resource-based theory,to expand the research perspective of government subsidy.Considering that the profit and loss behavior of enterprises may occur at any stage in the development process of enterprises,which is more conducive to strengthening the government’s continuous attention to enterprises and timely interaction with them.So,divide government subsidy into scale,“Shun”subsidy when enterprise is profitable and“Ni”subsidy when enterprise is loss-generating,to explore the moderating effect of government subsidy on the relationship between enterprise R&D investment and innovation performance.Select listed companies in the software industry from 2000 to 2019 as the research objects,data comes from wind,CSMAR,Incopat,etc.Some data are manually supplemented by consulting annual reports,constructs fixed effects on negative binomial regression.The research shows that:enterprise R&D investment can promote innovation performance,it is necessary to pay more attention to R&D resource allocation;government subsidy positively moderates the relationship between enterprise R&D investment and innovation performance,which has incentive effect,and its regulating role is irreplaceable;government subsidy when enterprise is profitable has a positive moderate effect,subsidy when enterprise is loss generating has a negative moderate effect,it is closely related to the strength of enterprise itself,profitable enterprises have stronger capabilities like resource integration,otherwise the loss-making enterprises may transfer government subsidies to survive,as innovation is a process of accumulation,this phenomenon should be paid more attention by government,if reduce or cancel subsidy support for enterprises will have an impact on the early accumulation of them,which maybe more detrimental to their survival and innovation development.The research provides a good supplement to the interactive research on government subsidy enterprise R&D investment and enterprise innovation performance under the unified framework in academic community,and the research conclusions provide reference for government subsidy policy formulation and enterprise innovation practice.