政府补贴对制造业企业创新效率的影响效应研究

A Research on the Effect of Government Subsidy on Innovation Efficiency of Manufacturing Enterprises

政府补贴是影响企业创新效率的重要因素,以2012~2019年我国A股制造业上市企业为研究样本,采用倾向得分匹配法(PSM),实证考察政府补贴对企业创新效率的影响。结果表明:现阶段,我国制造业创新效率偏低,政府补贴显著提升了企业创新效率。进一步考察不同产权性质下政府补贴对企业创新效率的影响,结果显示:政府补贴对国有企业和非国有企业创新效率的影响效果存在差异性,与国有企业相比,政府补贴对非国有企业创新效率的促进作用更明显。因此,各级政府应根据实际情况制定补贴政策,更加侧重对非国有企业的补贴,以提升我国企业整体创新效率。

Government subsidy is an important factor affecting the innovation efficiency of enterprises. Taking the listed A-share manufacturing enterprises in China from 2012 to 2019 as the research sample, this paper uses the propensity score matching method(PSM) to empirically investigate the effect of government subsidies on the innovation efficiency of enterprises. The results show that the innovation efficiency of China’s manufacturing industry at present is relatively low and the government subsidies significantly improves the innovation efficiency of enterprises. The results also show that the effect of government subsidies on innovation efficiency of state-owned enterprises and non-state-owned enterprises are different. Compared with state-owned enterprises, government subsidies play a more significant role in promoting the innovation efficiency of non-state-owned enterprises. Therefore, governments at all levels should formulate subsidy policies according to the actual situation, and give more subsidies to non-state-owned enterprises, so as to improve the overall innovation efficiency of Chinese enterprises.