江苏上市公司财政补贴与创新效应研究

Research on Financial Subsidy and Innovation Effect of Listed Companies in Jiangsu Province

财政补贴是推动企业创新、支持企业转型升级最直接的工具,研究选取2016—2020年江苏省内获取财政补贴支持的263家上市企业为研究对象,运用多元线性回归模型对财政补贴、企业研发投入和创新效应之间的关系进行实证研究。结果表明,财政补贴对企业的研发投入和创新产出均起到正向促进作用,企业研发投入对企业的创新产出有正向促进作用,同时研发投入在财政补贴对企业创新产出的影响中起到部分中介作用。

Financial subsidy is the most direct tool to promote enterprise innovation and help enterprises to transform and upgrade.This paper selected 263 listed companies in Jiangsu Province that received financial subsidy from 2016 to 2020 as the research objects,and used multiple linear regression model to make an empirical study on the relationship between financial subsidy,corporate R&D investment and innovation effects.The research results show that financial subsidy plays a positive promotion role on the R&D investment and innovation output of enterprises.In the meantime,R&D investment has a positive promotion role on enterprise innovation output and plays a partial mediating role in the impact of financial subsidy on the innovation output of enterprises.