政府研发补贴对高新技术企业研发支出的影响--基于企业生命周期理论

在关于政府研发补贴政策对企业研发投入影响效应存在争论的背景下,本文结合企业生命周期理论,利用沪深A股上市的高新技术企业2012-2014年的数据,实证分析了政府研发补贴对处于不同成长阶段企业的研发支出的影响。结果表明,政府研发补贴对于成长型和衰退型企业的研发支出均有促进作用,并且对衰退型企业的促进作用更大。而对于成熟型企业的研发支出来说,政府研发补贴的作用并不明显。因此,政府在拨付补贴款时应考虑企业所处的生命周期阶段,有针对性地动态调整补贴的范围和金额:对于成熟型企业,政府可以考虑少发放或者等企业申请了再发放;对于成长型和衰退型企业,政府应加大发放力度。

Under the background of the debate on the effect of government R＆D subsidies to the enterprise R＆D expenditure, we use the statistics of Shanghai and Shenzhen A-share listed high-tech enterprises in 2012-2014 to analyze the effects of gov- ernment R＆D subsidies to the R＆D expenditure of the enterprises in the different life cycle stages, combined with the the- ory of enterprise life cycle. The result shows that government R＆D subsidies for the growing and recessionary enterprises can promote their R＆D expenditure, while the latter has a more promoting effect, but there is not an obvious effect on ma- ture enterprises. Therefore, when it comes to appropriate subsidies, enterprise＇s stage of life cycle should be considered. The government needs to adjust the scope and amount of subsidies dynamically. For mature enterprises, the subsidies can be less or appropriated when applied. For the growing and reeessionary enterprises, the subsidies should be more.