财政补贴政策对企业创新绩效的影响研究——基于资源获取能力的实证思考

Research on the Influence of Financial Subsidy Policy on Enterprise Innovation Performance--Empirical Thinking Based on Resource Acquisition Ability

本文以2011~2020年A股上市公司为研究样本,从企业外部政策资源利用能力和企业内部创新资源整合能力两个角度,分析企业资源获取能力对财政补贴政策与企业创新绩效之间关系的影响。研究发现:补贴政策总体上对企业创新绩效具有显著正向影响,外部政策资源利用能力对补贴政策与企业创新绩效的关系具有部分调节效应,这种影响更多体现在对实质性创新成果以及策略性创新成果的影响上,而对经济绩效的影响并不显著。内部创新资源整合能力对补贴政策与企业创新绩效的关系具有显著的中介效应,而且在创新成果绩效方面的中介效应明显高于经济绩效。

Taking A-share listed companies from 2011 to 2020 as the research sample,this paper analyzes the impact of enterprise resource acquisition ability on the relationship between financial subsidy policy and enterprise innovation performance from the perspectives of enterprise external policy resource utilization ability and enterprise internal innovation resource integration ability.It is found that the subsidy policy has a significant positive impact on enterprise innovation performance on the whole,and the utilization ability of external policy resources has a partial regulatory effect on the relationship between subsidy policy and enterprise innovation performance.This impact is more reflected in the impact on substantive innovation achievements and strategic innovation achievements,but the impact on economic performance is not significant.The integration ability of internal innovation resources has a significant intermediary effect on the relationship between subsidy policy and enterprise innovation performance,and the intermediary effect in innovation achievement performance is significantly higher than economic performance.