政府补助和研发投入对企业技术创新的影响性研究

The Impact of Government Subsidies and R&D Investment on Enterprise Technological Innovation

本文基于2017-2019年中国351家A股制造业上市公司的固定面板数据,实证分析政府补助、制造业上市公司研发投入和企业技术创新之间的内在关系,并进一步分析股权性质差异。结果显示:政府补助、研发投入均对企业技术创新呈显著正相关关系,研发投入在政府补助和企业技术创新之间发挥正向调节作用。进一步分析,相比国有企业,非国有企业政府补助对企业技术创新的提升作用更显著。

Based on the fixed panel data of 351 A-share listed manufacturing companies in China from 2017 to 2019,this paper empirically analyzes the internal relationship between government subsidies,R&D investment of listed manufacturing companies and enterprise technological innovation,and further analyzes the differences in equity properties.The results show that government subsidies and R&D investment have a significant positive correlation with enterprise technological innovation,and R&D investment plays a positive moderating role in the relationship between government subsidies and enterprise technological innovation.Further analysis shows that compared with state-owned enterprises,government subsidies for non-state-owned enterprises have a more significant effect on the promotion of enterprise technological innovation.