政府支持企业创新的财政资源配置效应及优化对策

Allocation Effect and Optimization Countermeasures of Fiscal Resources for Government Supporting Enterprise Innovation

文章基于DEA框架构建考虑非期望产出的财政资源配置模型,研究我国政府用于支持企业创新发展的财政资源的配置效应及优化对策,并从城市行政级别、企业股权性质、政治关联等方面对企业创新绩效、财政资源的错配和调整进行分析,检验财政资源优化调整策略的有效性.研究发现,我国企业投入冗余情况较为严重,可以通过资源再配置后提高企业创新绩效,弱化资源错配,且该对策与现行产业政策高度一致.此外,政府财政资源分配会向高城市行政级别企业以及国有企业倾斜,但未能引起期望产出的增加,也没有激发其创新绩效.最后,城市行政级别会加剧财政资源的扭曲度,政治关联能够降低财政资源扭曲度.文章研究不仅揭示了我国财政资源分配中存在的问题,对财政资源分配体制的改革和促进企业创新具有清晰的政策意义.

Based on DEA framework,this paper constructs the allocation model of fiscal resources that takes into account the undesired output,and studies the allocation effect and optimization countermeasures of fiscal resources for government supporting enterprise innovation.Furthermore,this paper analyzes the enterprise innovation performance,misallocation and adjustment strategies of fiscal resources from different aspects including administrative rank,firm’s characteristics,political connections,and so on,and tests the effectiveness of the optimized adjustment strategies.The empirical results show that the redundancy of SMEs is more serious.Resource reallocation could improve the innovation performance,weaken the resources misallocation,and this strategy are highly consistent with the actual industrial policies.In addition,the government’s fiscal resource allocation will be tilted towards high-ranking enterprises and state-owned enterprises,but it doesn’t lead to an increase in expected output,nor does it improve its innovation performance.Finally,the administrative rank will aggravate the distortion of fiscal resources,but political connections can reduce the distortion of fiscal resources.This study not only reveals the problems existing in the allocation of financial resources in China,but also it has clear policy significance to the reform of financial resource distribution system and the promotion of enterprise innovation.