财政分权、政府研发补贴与企业研发投入

Fiscal Decentralization,Government R&D Subsidy and Private R&D Input

本文主要基于财政分权的视角,利用省级面板数据模型实证分析政府研发补贴对企业研发投入的影响,发现政府研发补贴对企业研发投入有显著的激励作用,但是财政支出分权度的提高削弱了政府研发补贴的激励作用,两者综合作用的结果仍为正。本文还发现企业主营业务收入越多,企业研发投入增加越多;国有控股企业资产占比越低,越有利于促进企业研发投入。政府研发补贴、企业主营业务收入和国有控股企业资产占比在各省存在较大差异,三者对企业研发投入的影响大小和方向不同,其综合作用的结果导致各省企业研发投入大幅增加,同时使之产生较大差异。

Utilizing the provincial panel data model,this paper analyzes the relationship between the governmental R&D subsidy and the private R&D input from the perspective of fiscal decentralization.It is shown that the governmental R&D subsidy has an incentive effect on the private R&D input.Though fiscal decentralization will weaken the incentive effect,the comprehensive effect is still positive.In addition,we find that the more the main business income,the more the private R&D input;and the lower the shares of state-owned holding enterprise assets,the more the private R&D input.At the provincial level,the above three factors are quite different,which leads to significant and different changes in the private R&D input.