政府补贴对新能源企业创新意愿和创新行为的影响

The effect of subsidy on innovation intentions and innovation behaviors of new energy enterprises

新能源企业是绿色创新主要力量,补贴是激励企业创新的常见手段,但补贴对新能源企业创新的激励作用未被系统性分析。文中创新性地把新能源企业的创新分为意愿和行为两个层面,以沪深两市新能源上市公司为研究对象,借助阈值回归和调节效应模型,分析了补贴对新能源企业在创新意愿和创新行为两个方面的影响,以及补贴在创新意愿到创新行为转化中的调节作用。结果表明,补贴对创新意愿有显著促进作用,对创新行为的影响呈“S型”,对创新意愿的转化有正向调节作用,对小规模、低负债、高盈利企业的创新有更强激励作用。研究结论有助于新能源企业补贴政策的制定和评估。

New energy enterprises are the main forces of green innovation,and subsidy is a common instrument to encourage innovation.However,the effect of the subsidy on the innovation performance of new energy enterprises has not been systematically explored.This paper innovatively divides the innovation performance of new energy enterprises into innovation intentions and innovation behaviors.Taking the new energy listed companies in Shanghai and Shenzhen stock markets as research subjects,this paper explores the effects of the subsidy on innovation intentions and behaviors,and the moderation effect of the subsidy on innovation intentions transformation,with threshold regression model and moderation model.The results show that subsidy has a significant promotion effect on innovation intentions,an“S-shaped”effect on innovation behaviors,and a positive moderation effect on the transformation of innovation intentions.Besides,the positive effects of subsidy on innovation are more pronounced among small-scale,low-liability,and high-profit enterprises.The findings contribute to formulating and assessing subsidy policies for new energy enterprises.