政府补助、R&D投入与创新绩效——基于贫困地区上市公司的实证研究

Government Subsidies,R&D Investment and Innovation Performance——Empirical Research Based on Listed Companies in Poor Areas

贫困地区上市公司在帮助扩大就业机会、带动当地经济发展等方面具有重要的作用。以2007—2018年贫困地区上市公司为样本,采用实质性创新和策略性创新衡量创新绩效,构建中介效应模型检验政府补助影响创新绩效过程中R&D投入的中介作用。实证研究结果表明,贫困地区上市公司政府补助和R&D投入均促进了创新绩效,R&D投入在政府补助影响创新绩效中具有中介效应;相比策略性创新,政府补助和R&D投入对实质性创新的激励作用更大;营业绩效与政府补助、R&D投入显著负相关。因此,完善政府补助政策对贫困地区上市公司创新带动经济扶贫有一定促进作用。

Listed companies in poor areas play an important role in helping poor areas to expand employment opportunities and driving local economic development.Taking listed companies in poor areas as samples from 2007 to 2018,substantial innovation and strategic innovation are used to measure innovation performance.An intermediary effect model is constructed to test the intermediary role of R&D investment in the process of government subsidies affecting innovation performance.The empirical research results show that both government subsidies and R&D inputs promote innovation performance.R&D investment has a mediating effect in the impact of government subsidies on innovation performance;compared with strategic innovation,government subsidies and R&D investment have a greater incentive to substantive innovation;in further research,it is found that business performance is significantly negatively correlated with government subsidies and R&D investment.Therefore,improving the government subsidy policy has a certain guiding role in the innovation of listed companies in poor areas to drive economic poverty alleviation.