摘要
通过运用沪市制造业上市公司2012年-2015年的面板数据,实证分析了政府补贴与企业绩效的非线性关系,结果表明:政府补贴对企业绩效的影响存在门槛效应,存在最佳的政府补贴区间[10.77%,14.69%],政府补贴强度与企业绩效呈现最强的正相关关系;政府补贴对不同所有制企业的绩效的影响存在差异,政府补贴对国有企业绩效有显著的促进作用,政府补贴对非国有企业则存在着门槛效应。最后,提出了相应的政策建议。
Using manufacturing panel data of listed companies in Shanghai Stock Market from 2012 to 2015,this paper tested the non-linear relationship between government subsidies and firm performance.The results showed the following conclusions.There exist threshold effects of government subsidies on firm performance,and the optimal interval of government subsidies intensity ranges from 10.77% to 14.69% to effectively promote firm performance to the maximum extent.Besides,the threshold effects of government subsidies on firm performance vary across ownership.Government subsidies significantly promote the performance of state-owned enterprises,while for non-state-owned enterprises,there exist threshold effects.Finally,the paper puts forward the corresponding policy suggestions.
出处
《科技和产业》
2017年第2期99-103,共5页
Science Technology and Industry
关键词
政府补贴
企业绩效
门槛效应
government subsidy
firm performance
threshold effects
