摘要
政府研发资助政策究竟是缓解了企业创新中的资金“匮缺”程度?还是进一步滋长了企业的创新“惰性”行为?研究将2008—2017年间国泰安数据库中2480家上市公司作为考察对象,运用工具变量法2SLS和IV Probit两种方法对以上问题进行了实证检验。发现:(1)在控制时间、行业、企业性质和地区固定因素后,政府研发资助对企业创新活动产出以及创新意愿存在U型非线性激励效应,只有当政府资助规模超过某阈值后,才呈现出对企业创新意愿的“挤入”效应,不过这种“挤入”效应可能会带来“重数量”困境。(2)政府研发资助对企业创新偏好产生了显著的“倒U”型分层效应,过度补贴将引起创新偏好向低端化“降级”,造成“轻质量”困境。(3)以上结果在国有/非国有企业、高/低创新强度行业分组间均存在异质性。意味着政府的创新补贴政策需兼顾不同股权性质、不同行业创新强度的差异性,且需重点缓解民营企业和高创新强度企业的资本“匮缺”,以及“鞭策”国有企业的创新“惰性”,鼓励高创新强度行业内民营企业的创新积极性,否则会进一步加剧不同类型企业间的“激励扭曲”。
In the development process of Chinese enterprises,there are many internal factors,such as the"modularization"trap,homogenization innovation,"surge"of industry and other independent innovation difficulties,and many external factors,such as imperfect intellectual property system and financial market system,all these factors together breed the enterprise innovation"inertia".Although the government′s direct financial support can alleviate the financial constraints faced by enterprises′innovation investment,the hidden information problem in the allocation of government innovation subsidies makes the enterprises prone to rely on inertia,resulting in enterprises′tendency to"cater"to government policies.They tend to"cater"to government policies through rent-seeking and preferential policy grabbing behaviors,resulting in the dilemma of"focusing on quantity rather than quality"in enterprise innovation.Therefore,utilizing government intervention to achieve the positive incentive effect on enterprises′innovation willingness and high-end innovation preference is of great significance for enhancing enterprises′innovation vitality and enabling local high-quality regional economic growth.In this paper,we use the data from the CSMAR database and list 2480 companies from 2008 to 2017 as the research objects,finally we test the multi-dimensional impact of government innovation funding on enterprise innovation laziness by using the method of 2SLS and IV Probit.The results show that:(1)after controlling the fixed effects such as time,industry,city size,and enterprise′s characteristic variables,the government′s innovation funding has a U-shaped nonlinear incentive effect on the output of enterprise′s innovation activities and enterprise′s innovation intention.It means that when the scale of government′s innovation funding exceeds a certain critical value,can it show the"crowding in"of enterprise′s innovation intention effect,enterprises are willing to increase the proportion of R&D expenditure in revenue.Otherwis
作者
崔兆财
张志新
李成
Cui Zhaocai;Zhang Zhixin;Li Cheng(School of Economics,Shandong University of Technology,Zibo255022,Shandong,China)
出处
《科研管理》
CSCD
北大核心
2023年第5期140-148,共9页
Science Research Management
基金
山东省自然科学基金青年项目(ZR2022QG057)
国家哲学社会科学基金项目(17BJY107)
淄博市社会科学基金项目(22ZBSKB017)。
关键词
政府补贴
企业创新
创新惰性
U型关系
激励扭曲
government subsidy
enterprise innovation
innovation inertia
U-shaped relationship
incentive distortion
