政府补贴对企业研发投入的影响研究——以装备制造业为例

Research on the Impact of Government Subsidy on Enterprise R&D Investment:A Case Study of Equipment Manufacturing Industry

基于我国2009-2015年460家装备制造业微观企业面板数据,建立面板门槛模型分析了政府补贴对企业研发投入的影响。结果显示,政府补贴对企业研发投入的激励作用存在一个有效区间,并且企业所有制形式会影响该有效区间。对于国有企业而言,当补贴水平高于0.738%时,企业研发投入随着补贴水平的增加而降低。对于非国有企业而言,当补贴水平低于3.149%时,企业研发投入随着补贴水平的增加而降低。进一步地,通过以企业规模作为门槛变量进行回归发现,当企业规模较大时,企业的研发意愿充足,此时政府补贴促进企业研发投入。

This paper uses the panel data of 460 equipment manufacturing enterprises of China from 2009 to 2015,employing threshold panel data model to study the impact of government subsidies on enterprise RD investment.Results show that there does exist an effective interval about the incentive effect of government subsidies on enterprise RD investment,and the ownership will affect the effective interval.For state-owned enterprises,when the government subsidies beyond 0.738%,the enterprise RD investment will decrease with the increasing rate of government subsidies.For private enterprise,when the government subsidies are below then 3.149%,the enterprise RD investment will decrease with the increasing rate of government subsidies.Further,by taking the enterprise scale as the threshold variable,we find that when the scale of enterprise at high level,the enterprise aspirations of RD investment are adequate,and the government subsidies promote enterprise RD investment.