政府补贴对高新技术企业供应链韧性的影响

Impact of Government Subsidies on Supply Chain Resilience of High Tech Enterprises

基于2012—2021年A股上市高新技术企业数据,实证检验了政府补贴对供应链韧性的影响。研究表明,政府补贴显著促进供应链韧性,这一结论在经过稳健性检验和内生性检验之后依然成立;中介机制分析发现,双元创新能力在政府补贴与供应链韧性的影响中起到部分中介作用,即政府补贴通过促进企业双元创新能力进而提升其供应链韧性;异质性分析发现,东部地区、非国有企业、小规模的高新技术企业的政府补贴与供应链韧性的影响更显著。实证结果为高新技术企业应对不利冲击提供了管理启示。

Based on the data of high-tech enterprises listed on the Shanghai and Shenzhen stock exchanges in China from 2012 to 2021,the impact of government subsidies on supply chain resilience was empirically tested.Research has shown that government subsidies significantly promote supply chain resilience,and this conclusion remains valid even after robustness and indigeneity tests.Analysis of intermediary mechanisms reveals that dual innovation capability plays a partial mediating role in the impact of government subsidies on supply chain resilience,that is,government subsidies enhance the dual innovation capability of enterprises and thereby enhance their supply chain resilience.Heterogeneity analysis finds that the impact of government subsidies on supply chain resilience is more significant in the eastern region,non-state-owned enterprises and small-scale high-tech enterprises.The empirical results provide management insights for high-tech enterprises to cope with adverse impacts.