本文關(guān)鍵詞： 產(chǎn)業(yè)生命周期 政府補(bǔ)貼 企業(yè)績(jī)效　出處：《集美大學(xué)》2017年碩士論文　論文類(lèi)型：學(xué)位論文

【摘要】：近年來(lái),政府補(bǔ)貼的力度逐年加大。從被補(bǔ)貼企業(yè)所處的產(chǎn)業(yè)發(fā)展階段來(lái)看,政府對(duì)傳統(tǒng)產(chǎn)業(yè)和新興產(chǎn)業(yè)中企業(yè)補(bǔ)貼所產(chǎn)生的效果有所不同。有必要從產(chǎn)業(yè)發(fā)展生命周期的角度考察政府補(bǔ)貼對(duì)企業(yè)績(jī)效的影響,從而制定具有針對(duì)性的產(chǎn)業(yè)政策,更好地發(fā)揮政府補(bǔ)貼的作用。本文在梳理產(chǎn)業(yè)生命周期理論和政府補(bǔ)貼對(duì)企業(yè)績(jī)效影響的理論基礎(chǔ)上,從產(chǎn)業(yè)生命周期視角出發(fā),以制造業(yè)上市公司為研究對(duì)象,進(jìn)行實(shí)證研究設(shè)計(jì),考察政府補(bǔ)貼對(duì)企業(yè)創(chuàng)新績(jī)效和經(jīng)營(yíng)績(jī)效的影響。首先分析了我國(guó)政府補(bǔ)貼的現(xiàn)狀,再利用產(chǎn)業(yè)增加值增長(zhǎng)率法,將我國(guó)制造業(yè)部門(mén)29個(gè)子行業(yè)劃分出產(chǎn)業(yè)生命周期階段的成長(zhǎng)期、成熟期和衰退期。然后對(duì)不同產(chǎn)業(yè)生命周期階段中政府補(bǔ)貼對(duì)企業(yè)績(jī)效的影響提出理論假設(shè):政府補(bǔ)貼對(duì)企業(yè)創(chuàng)新績(jī)效的影響,從成長(zhǎng)期產(chǎn)業(yè)到衰退期產(chǎn)業(yè)依次減弱;政府補(bǔ)貼對(duì)成長(zhǎng)期和衰退期產(chǎn)業(yè)中的企業(yè)經(jīng)營(yíng)績(jī)效的影響程度比較大,對(duì)產(chǎn)業(yè)成熟期企業(yè)的經(jīng)營(yíng)績(jī)效無(wú)顯著影響。接著在理論假設(shè)的基礎(chǔ)上進(jìn)行實(shí)證研究設(shè)計(jì),選取2012-2015年887家制造業(yè)上市公司構(gòu)成面板數(shù)據(jù),選擇專(zhuān)利產(chǎn)出數(shù)量作為衡量創(chuàng)新績(jī)效的指標(biāo);通過(guò)反映上市公司經(jīng)營(yíng)績(jī)效的資產(chǎn)收益率、營(yíng)業(yè)利潤(rùn)增長(zhǎng)率等12個(gè)指標(biāo)構(gòu)建經(jīng)營(yíng)績(jī)效綜合評(píng)價(jià)體系,計(jì)算出產(chǎn)業(yè)生命周期各個(gè)階段上市公司經(jīng)營(yíng)績(jī)效指數(shù)。選擇企業(yè)規(guī)模、企業(yè)金融杠桿和上市年齡作為控制變量,以此構(gòu)建面板數(shù)據(jù)回歸模型。實(shí)證檢驗(yàn)結(jié)果發(fā)現(xiàn),政府補(bǔ)貼顯著促進(jìn)了成長(zhǎng)期產(chǎn)業(yè)上市公司的創(chuàng)新績(jī)效和經(jīng)營(yíng)績(jī)效;政府補(bǔ)貼對(duì)成熟期產(chǎn)業(yè)上市公司的創(chuàng)新績(jī)效和經(jīng)營(yíng)績(jī)效為負(fù)向的不顯著影響;政府補(bǔ)貼顯著抑制了衰退期產(chǎn)業(yè)上市公司的創(chuàng)新績(jī)效,但促進(jìn)了經(jīng)營(yíng)績(jī)效。進(jìn)而根據(jù)處于不同產(chǎn)業(yè)生命周期中企業(yè)的發(fā)展特點(diǎn)提出合理的解釋。另外橫向?qū)Ρ日a(bǔ)貼對(duì)企業(yè)創(chuàng)新績(jī)效和經(jīng)營(yíng)績(jī)效在各個(gè)產(chǎn)業(yè)生命周期階段中的影響程度,基本與理論假設(shè)相符。據(jù)此從產(chǎn)業(yè)生命周期角度提出政策建議:加大成長(zhǎng)期產(chǎn)業(yè)的政府補(bǔ)貼力度,盡量減少成熟期產(chǎn)業(yè)不必要的政府補(bǔ)貼,對(duì)于衰退期產(chǎn)業(yè)應(yīng)根據(jù)政府補(bǔ)貼導(dǎo)向適度補(bǔ)貼,合理引導(dǎo)衰退期產(chǎn)業(yè)發(fā)展。
[Abstract]:In recent years, government subsidies increased year by year. From subsidies to enterprises at the stage of industrial development, the government of traditional industries and emerging industries in business subsidies have different effect. It is necessary from the life cycle of industrial development perspective of the impact of government subsidies on the performance of enterprises, to develop targeted industry policy, better play the role of government subsidies. The theoretical basis of influence on enterprise performance in the sort of industry life cycle theory and government subsidies, starting from the industry life cycle perspective, the manufacturing industry listed company as the research object, carries on the empirical research design, the effects of government subsidies to the enterprise innovation performance and operational performance. First analyzes the status quo of China's government subsidies, the industrial added value growth rate, China's manufacturing sector will be divided into 29 sub sectors of the industry life cycle Stage of growth period, mature period and decline period. And then put forward the theoretical hypothesis of the impact of government subsidies in different stages of industry life cycle on the performance of enterprises: the impact of government subsidy on performance of enterprise innovation, weakened from growing industry to industry recession; the influence degree of government subsidies on Growth period and decline period in the industry performance the business is relatively large, no significant effect on the performance of business enterprise industry maturity. Then the empirical research design on the basis of theoretical hypothesis, selects 2012-2015 887 companies listed in panel data, select the number of patent output as a measure of innovation performance index; by reflecting the operating performance of Listed Companies in asset returns rate, operating profit growth rate of 12 indicators to construct a comprehensive performance evaluation system, calculate the operating performance of the various stages of the industry life cycle refers to the listed company The number of enterprises. Enterprise scale, financial leverage and market age as control variables, in order to construct the regression model of panel data. Empirical results indicate that government subsidies significantly promoted the growth of industry of listed companies operating performance and innovation performance; government subsidies for mature industry of listed companies operating performance and innovation performance is not negative significant impact; government subsidies significantly inhibited the recession industry listed company's innovation performance, but to promote the business performance. Then according to the characteristics of the development of enterprises in different industries in the life cycle of the proposed reasonable explanation. In addition comparative government subsidies influence on enterprise innovation performance and management performance in each stage of industry life cycle of the basic with the theoretical assumptions. It puts forward policy recommendations from the perspective of industry life cycle: increase government subsidies during the growth period of the industry, as far as possible In order to reduce the unnecessary government subsidies in the mature period, the industry should be moderately subsidized in accordance with the government subsidies, and rationally guide the development of the recession industry.

【學(xué)位授予單位】：集美大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2017
【分類(lèi)號(hào)】：F272.5;F812.45;F425

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