政府科技资助对企业其它科技经费来源的影响——来自软件产业基地的实证

The Impact of Government Subsidies on Other Sources of Science and Technology Funds for Enterprises——Study Based on Software Industrial Base

在我国当前制度环境下,知识产权保护水平仍然较低,企业研发投资动力不足。为鼓励企业科技研发活动,科技资助是政府经常使用的政策工具之一。以2008-2016年全国44个软件产业基地为研究样本,考察了政府科技资助对软件企业研发投入和外部融资的影响;在此基础上,进一步考察了知识产权保护水平对上述过程的调节作用;构建了4个面板数据回归模型进行实证检验。结果显示,政府科技资助能通过认证机制提高软件企业外部融资,但对企业研发投入的影响不显著;另外,知识产权保护水平越低,政府认证效应发挥的作用越强,企业获得的外部融资越多;同时,在政府科技资助影响企业研发投入的路径上,知识产权保护水平无显著影响。

In the current institutional environment,the level of intellectual property protection is still low,and the R&D investment of enterprises is insufficient.To encourage R&D activities of enterprises,the government usually uses science and technology subsidies policy as one of policy instruments.Based on the panel data of 44 software industrial bases from 2008 to 2016,this paper examines the impacts of government subsidies on R&D investments of enterprises and external financing.Based on this,the moderating effect of intellectual property protection level on the above processes is further investigated.In the part of empirical analysis,four panel data regression models are constructed.The results demonstrate that,government subsidies can improve the external financing of software enterprises through authentication mechanism,but the impact on R&D investments of enterprises is not significant.Furthermore,the lower the level of intellectual property protection,the stronger the role of the government's authentication effect will be,so that enterprises can obtain more external financing.However,the level of intellectual property protection has no significant influence on the path of government subsidies influencing R&D investments of enterprises.