摘要
利用2007-2019年上市公司的数据,实证分析了经济不确定性下财政补助与企业实质性创新之间的深层次联系。结果显示经济不确定性和研发补助对于企业研发投入有显著的“激励效应”,但随着经济不确定性的增加,研发补助对实质性创新激励效应下降;经济不确定性拉大了有无获得补助两类企业创新能力的差距,未获得研发补助企业的自有研发投入的实质性创新产出效率较低;值得关注的是,获得研发补助的企业并非将补助资金全部用于实质性创新。此外,研发补助对于民营、成熟期企业实质性创新的“激励效应”更高,且拉大了地区之间实质性创新水平的差距。
Based on the micro data of China's listed companies from 2007 to 2019,this paper analyzed the deep relationship between financial subsidies and substantive innovation of enterprises under economic uncertainty.The results show that:economic uncertainty and financial R&D subsidies have significant“incentive effect”on R&D investment of enterprises,but economic uncertainty has a negative impact on R&D output,and with the increase of economic uncertainty,the substantial incentive effect of R&D subsidies decreases.After distinguishing the samples,it is found that the impact of economic uncertainty on the differentiation of substantive innovation and non substantive innovation of the two types of enterprises has,to a certain extent,widened the gap of innovation capability between the two types of enterprises.The results show that the efficiency of substantive innovation output of enterprises without R&D subsidies is low,and the enterprises with R&D subsidies do not use all the subsidy funds for substantive innovation.In addition,R&D subsidies have a higher“incentive effect”on substantive innovation of private and mature enterprises,and widen the gap of substantive innovation level between regions.
作者
高蒙蒙
汪冲
GAO Meng-meng;WANG Chong
出处
《北京社会科学》
CSSCI
北大核心
2021年第7期98-108,共11页
Social Sciences of Beijing
基金
国家自然科学基金面上项目(71973090)——中央管控地方建设用地的全要素生产率影响、机制与优化路径。
关键词
经济不确定性
研发补助
研发投入
自有研发投入
实质性创新
economic uncertainty
R&D subsidy
R&D investment
own R&D investment
substantive innovation substantive innovation
