政府研發(fā)補貼對企業(yè)創(chuàng)新績效的影響研究——基于企業(yè)規(guī)模和產(chǎn)權(quán)異質(zhì)性視角政府研發(fā)補貼對企業(yè)創(chuàng)新績效的影響研究——基于企業(yè)規(guī)模和產(chǎn)權(quán)異質(zhì)性視角

摘要：隨著民族經(jīng)濟的快速發(fā)展，科技創(chuàng)新成為推動經(jīng)濟發(fā)展的重要力量之一。為了促進企業(yè)創(chuàng)新，政府設(shè)立了各種強制或非強制的研發(fā)補貼政策。然而，政府研發(fā)補貼對企業(yè)創(chuàng)新績效的影響尚未得到充分的研究。本文通過整理文獻，提出了“進一步了解政府研發(fā)補貼對企業(yè)創(chuàng)新績效的影響，并探索研發(fā)補貼對企業(yè)規(guī)模和產(chǎn)權(quán)異質(zhì)性的影響”的問題。文章采用5,953家中國高科技企業(yè)的數(shù)據(jù)作為研究對象，運用OLS回歸模型和差分模型來研究政府研發(fā)補貼對企業(yè)創(chuàng)新績效的影響。結(jié)果顯示：政府研發(fā)補貼對企業(yè)創(chuàng)新績效具有正向影響。此外，不同規(guī)模的企業(yè)對政府研發(fā)補貼的響應(yīng)不同，小型企業(yè)的研發(fā)效果更加敏感。在產(chǎn)權(quán)異質(zhì)性方面，外資和國有企業(yè)對政府研發(fā)補貼的響應(yīng)更為明顯。

關(guān)鍵詞：政府研發(fā)補貼，企業(yè)創(chuàng)新績效，企業(yè)規(guī)模，產(chǎn)權(quán)異質(zhì)性，高科技企業(yè)

Abstract:Withtherapiddevelopmentofthenationaleconomy,technologicalinnovationhasbecomeoneoftheimportantforcesdrivingeconomicdevelopment.Inordertopromoteenterpriseinnovation,thegovernmenthasestablishedvariousmandatoryornon-mandatoryR&Dsubsidypolicies.However,theimpactofgovernmentR&Dsubsidiesonenterpriseinnovationperformancehasnotbeenfullystudied.Basedontheliteraturereview,thispaperproposesthequestionof"furtherunderstandingtheimpactofgovernmentR&Dsubsidiesonenterpriseinnovationperformance,andexploringtheimpactofR&Dsubsidiesonenterprisesizeandpropertyrightsheterogeneity".Thepaperusesdatafrom5,953Chinesehigh-techenterprisesastheresearchobject,andusesOLSregressionmodelanddifferencemodeltostudytheimpactofgovernmentR&Dsubsidiesonenterpriseinnovationperformance.TheresultsshowthatgovernmentR&Dsubsidieshaveapositiveimpactonenterpriseinnovationperformance.Inaddition,enterprisesofdifferentsizesresponddifferentlytogovernmentR&Dsubsidies,andsmallenterprisesaremoresensitivetoR&Dsubsidies.Intermsofpropertyrightsheterogeneity,foreign-investedandstate-ownedenterpriseshaveamoreobviousresponsetogovernmentR&Dsubsidies.

Keywords:governmentR&Dsubsidies,enterpriseinnovationperformance,enterprisesize,propertyrightsheterogeneity,high-techenterpriseGovernmentR&Dsubsidiesplayacrucialroleinpromotingenterpriseinnovationperformance.Throughfinancialincentives,thegovernmentencouragesenterprisestoinvestinresearchanddevelopment,whicheventuallyleadstothecreationofnewproductsandservices.Thismeasurenotonlybenefitsenterprisesbutalsobooststheoveralleconomicgrowthofthecountry.

However,theimpactofgovernmentR&Dsubsidiesvariesamongenterprisesofdifferentsizes.SmallenterprisesaremoresensitivetoR&Dsubsidiesastheyoftenhavelimitedfinancialresourcestoinvestinresearchanddevelopment.Therefore,governmentsupportintheformofR&Dsubsidiescansignificantlyenhancetheirinnovationperformance.

Moreover,propertyrightsheterogeneityalsoaffectsthewayenterprisesrespondtogovernmentR&Dsubsidies.Foreign-investedandstate-ownedenterprises,duetotheiruniqueownershipstructure,mayhaveamoreobviousimpactontheirinnovationperformancewhengovernmentR&Dsubsidiesareprovided.

Inconclusion,governmentR&Dsubsidieshaveapositiveeffectonenterpriseinnovationperformance,especiallyforsmallenterprises.EnterprisesofdifferentownershipstructuresalsoresponddifferentlytogovernmentR&Dsubsidies.Therefore,policymakersneedtoconsiderthesefactorswhenimplementingR&DsubsidypoliciestoensuretheireffectivenessinfosteringinnovationAdditionally,itisimportantforpolicymakerstodesignR&Dsubsidyprogramsthatareflexibleandadaptabletochangesinthebusinessenvironment.Theinnovationlandscapeisconstantlyevolving,andinnovativeenterprisesneedtokeepupwiththelatesttechnologiesandtrendstoremaincompetitive.Therefore,R&Dsubsidypoliciesneedtoberegularlyreviewedandupdatedtoensurethattheyarestillrelevantandeffective.

AnotherfactorthatpolicymakersshouldconsiderwhendesigningR&Dsubsidypoliciesisthepotentialforadverseeffects,suchascrowdingout.IfR&Dsubsidiesareonlyavailabletoaselectgroupofenterprises,thereisariskthatlargerenterprisesorthoseoutsidethefavoredsectorswillbediscouragedfrominvestinginR&D.Thiscanleadtoareductionininnovationacrosstheeconomyasawhole.Therefore,policymakersneedtoensurethatR&Dsubsidyprogramsdonotinadvertentlycrowdoutinnovationinothersectors.

Insummary,governmentR&Dsubsidiescanbeaneffectivetoolforfosteringinnovationinenterprises,especiallysmallandmedium-sizedones.However,policymakersneedtocarefullyconsiderthedesignandimplementationofthesepoliciestoensurethattheyaretailoredtotheneedsofdifferenttypesofenterprisesandthattheydonothaveunintendedconsequences.Bydoingso,theycanhelptocreateanenvironmentinwhichinnovationthrives,drivingeconomicgrowthandimprovingsocialwelfareOneimportantconsiderationforpolicymakerswhendesigningR&Dsubsidiesisthetypeofenterprisesthatwillbenefitthemost.Smallandmedium-sizedenterprises(SMEs)areoftenmoreconstrainedintheirabilitytoinvestinresearchanddevelopmentcomparedtolargerfirms,makingthemakeytargetforR&Dsubsidies.ThesesubsidiescanhelptooffsetthecostsandrisksassociatedwithinnovationandprovideSMEswiththeresourcestheyneedtodevelopnewproductsandservices.

However,notallSMEsarethesame,andpolicymakersneedtoconsiderthedifferentneedsandcapabilitiesofdifferenttypesofenterprises.Forexample,technologystartupsmayrequirelargersubsidiestofundhigh-risk,high-rewardinnovations,whileestablishedSMEsmayneedmoretargetedassistancetoovercomespecifictechnicalbarriers.Policymakersshouldalsoconsidertheroleofdifferentindustriesindrivinginnovationandtargetsubsidiesaccordingly.Forinstance,industrieswithahighpotentialforgrowthandspilloversmayrequiremoresupporttofosterinnovation.

AnotherimportantconsiderationisthepotentialunintendedconsequencesofR&Dsubsidies.Onepotentialunintendedconsequenceisthecrowdingoutofprivateinvestment.IffirmsexpecttoreceivesubsidiesfortheirR&D,theymayreducetheirowninvestmentinthisarea,leadingtoadeclineintotalR&Dspending.Policymakersneedtocarefullycalibratethesizeanddurationofsubsidiestoensurethattheydonotdiscourageprivateinvestmentininnovation.

Inaddition,policymakersneedtoensurethatR&Dsubsidiesarewell-designedtoencouragethedesiredoutcomes.Forexample,subsidiesshouldbetiedtospecifictypesofR&Dinvestments,suchascollaborationswithuniversitiesorthedevelopmentofnewproductsorservices.Subsidiescouldalsobedesignedtoencouragetheadoptionofnewtechnologiesorthecommercializationofresearchoutputs.

Finally,policymakersneedtoconsiderhowR&Dsubsidiesfitintothebroaderinnovationecosystem.Subsidiesshouldbecomplementedbyotherpoliciesaimedatimprovingtheinnovationcapacityoffirms,suchasprovidingtechnicalassistance,accesstofinance,orintellectualpropertyprotection.Additionally,policymakersneedtoconsidertheroleofpublicresearchinstitutionsanduniversitiesinfosteringinnovationandensurethattheseinstitutionsareengagedwiththeprivatesectortopromoteknowledgetransferandcollaboration.

Inconclusion,R&DsubsidiescanbeapowerfultoolforfosteringinnovationinSMEs,butpolicymakersneedtocarefullyconsiderthedesignandimplementationofthesepoliciestoensurethattheyareeffectiveanddonothaveunintendedconsequences.BytailoringsubsidiestothespecificneedsofdifferenttypesofSMEsandindustries