政府补贴与寻租对企业研发投入的影响

The Effects of Government Subsidies and Rent-seeking on R&D of Enterprises

党的十九大倡导建立以企业为主体、市场为导向、产学研深度融合的技术创新体系,加强对中小企业创新的支持,促进科技成果转化。基于此,本文主要探讨政府补贴与寻租对企业研发的影响及其原因。基于沪深主板民营公司数据,本文在三个层面进行验证：寻租是否能够帮助企业建立良好的政企关系;企业的寻租是否对研发投入具有挤出作用;在腐败情况严重的地区,这种挤出效应是否更显著以及政府补贴的效果是否会因寻租而降低。实证检验发现寻租行为有助于民营上市企业建立政企关系,以获取更多补贴。但寻租活动对企业的研发投入有挤出效应。在腐败严重的地区,寻租活动的负面影响降低了政府科技补贴的效果。

The 19 th CPC National Congress advocates that we should establish a technological innovation system that takes the enterprise as the main body, the market as the orientation, and the industry-university-research institute as a deep integration. And we should strengthen the support for the innovation of SMEs and promotes the transformation of scientific and technological achievements. Based on it, this study investigates the impact of rent-seeking behavior, political connections, and government science and technology（S＆T） subsidies on the research and development（R＆D）of private listed enterprises. Based on empirical data of China’s private listed enterprises, this paper performs validation at three levels and obtains suggestive conclusions. First of all, the purpose to obtain more S＆T subsidies motivates private listed enterprises to take rent-seeking activities which can facilitate them in establishing political connections（PCs）. Secondly, rent-seeking activities could eventually result in crowing-out effect of the R＆D input, especially for the local PCs. Thirdly, the side effect of rent-seeking is more significant for enterprises located in provinces of high corruption levels, which weakens the availability of government S＆T subsidies. The improper intervention of government distorts the market resources allocation.