政府补贴对新能源企业技术创新绩效的影响研究——以研发投入为中介变量

Research on the Impact of Government Subsidies on the Technological Innovation Performance of New Energy Enterprises——Take Enterprise R&D Input as the Intermediary Variable

利用128家沪深A股新能源上市公司的面板数据,通过建立随机效应模型实证检验了政府补贴、新能源企业研发投入和技术创新绩效之间的关系。结果表明:政府补贴对新能源企业的研发投入和技术创新绩效都具有显著的正向影响,企业研发投入在政府补贴与企业技术创新绩效之间起到部分中介作用。在此基础上进一步考察了产权性质差异是否会导致政府补贴对企业技术创新绩效影响的差异,发现相比于国有企业,政府补贴对新能源非国有企业技术创新绩效的提升作用更大。

Based on the panel data of 125 new energy listed companies in Shanghai and Shenzhen,a random effect model was established so as to test the relationship between government subsidies,R&D investment of new energy enterprises and technological innovation performance.The results show that government subsidies have a significant positive impact on the R&D investment and technological innovation performance of new energy enterprises,while R&D investment of new energy enterprises takes partly intermediary role between government subsidies and technological innovation performance of enterprises.On this basis,our further investigation focuses on whether the difference of property right nature will lead to the difference inthe impact of government subsidies on the technological innovation performance of enterprises,and it is also found that compared with state-owned enterprises,government subsidies have a greater effect on the improvement of technological innovation performance of non-state-owned enterprises of new energy.