企业获得政府补贴的影响因素分析——基于工业企业数据库的实证研究

Impact Factors on the Conditions of Chinese Enterprises Attaining Government Subsidies: An Empirical Investigation Based on Data Base of Industrial Enterprises

企业获得政府补贴的状况主要包含两个方面:企业能否获得补贴和获得补贴的程度高低。基于这两个方面,分析了影响企业获得政府补贴状况的因素。实证结果表明:企业获得补贴的概率和程度不仅受到自身禀赋和性质的影响,还与其在生产经营过程中面临的不利境遇密切相关。面临亏损的企业和受融资约束程度较低的企业更有可能获得政府补贴,其获得补贴的程度也相对较高,表明政府补贴更大程度上扮演了"事后补救"的角色。此外,我国的政府补贴还带有明显的国有偏好、规模偏好和出口偏好。

Current literatures which focus on Chinese government subsidies hold the viewpoint that the conditions of enterprises attaining government subsidies includes two integral parts: possibility and level. Based on these two parts,this paper investigates the impact factors on the conditions of Chinese enterprises attaining government subsidies. The results show that not only the individual gifts and properties of enterprises matter,adverse conditions in production and management also influence the possibility and level of attaining government subsidies for Chinese enterprises significantly. The enterprises in the red or those which face low level of financial constraints enjoy a higher possibility and level of attaining government subsidies,which indicates that government subsidies in China play the role of'afterward fixing'more often. Besides,government subsidies in China have apparent preferences for state-owned firms,large firms and export firms.