政府补助与中小企业创新绩效

Government Subsidies and Innovation Performance of SMEs

已有文献对政府补助对中小企业创新影响仍缺少实证分析。本文使用上市中小企业作为研究样本,评估政府补助对中小企业创新行为和绩效影响。我们将政府补助细分为研发补助和非研发补助,实证分析发现:第一,研发补助和非研发补助都显著促进了中小企业的研发投入,但研发补助的促进效果更强;第二,研发补助能够促进中小企业的专利产出,主要是对中小企业发明专利数量有显著促进作用;第三,从创新效率看,研发补助对中小企业的技术进步起显著正向作用,但对中小企业的纯技术效率起显著负向作用,而非研发补助对于中小企业的技术进步、纯技术效率以及全要素生产率均起负向作用。机制分析发现,信号机制有更好的解释力。同时,寻租会扭曲政府研发补助对中小企业创新的影响,政府补贴对非高新技术中小企业及内控较好的中小企业激励效应更强。

The effect of government subsidies on innovation of small and mediumsized enterprises(SME)is still lack of empirical analysis.This paper estimates the impact of government subsidies on the innovation strategy and performance of SMEs.We use Listed SMEs as research samples and divide the government subsidies into R&D subsidies and non R&D subsidies.Following findings are obtained:first,R&D subsidies and non R&D subsidies significantly promote the R&D expenditure of SMEs,but the effect of R&D subsidies is significantly stronger;Second,R&D subsidies can promote the patent output of SMEs,mainly to significantly promote the number of invention patents of SMEs,while non R&D subsidies are more to promote other types of innovation;Third,from the perspective of innovation efficiency,R&D subsidies play a significant positive role in the technological progress of SMEs,but play a significant negative role in the pure technical efficiency of SMEs,while non R&D subsidies play a negative role in the technological progress,pure technical efficiency and total factor productivity.Heterogeneity analysis found that rent-seeking will distort the effect of Government R&D subsidies on the innovation;Government subsidies have a stronger incentive effect on non-high-tech SMEs;Government R&D subsidies have a better effect on the innovation activities of SMEs with better internal governance.