本文選題：政府補(bǔ)助 + 企業(yè)創(chuàng)新�。� 參考：來(lái)自中國(guó)上市公司的新證據(jù)

【摘要】：政府"扶持之手"在RD"市場(chǎng)失靈"中發(fā)揮著重要作用,然而,政府創(chuàng)新補(bǔ)助在激勵(lì)企業(yè)創(chuàng)新自主投資方面究竟"如其所愿"還是"事與愿違"?尚缺乏一致和有說(shuō)服力的經(jīng)驗(yàn)證據(jù)。本文通過(guò)剔除非RD補(bǔ)助噪音,并對(duì)企業(yè)創(chuàng)新自主投資與政府創(chuàng)新補(bǔ)助加以區(qū)分,為該問(wèn)題提供了來(lái)自中國(guó)上市公司研發(fā)投資的新證據(jù)。研究發(fā)現(xiàn),盡管政府創(chuàng)新補(bǔ)助與企業(yè)總體RD投資正相關(guān),但政府直接給予企業(yè)的創(chuàng)新補(bǔ)助每增加1單位,帶來(lái)的RD投資增量顯著小于1;隨著政府創(chuàng)新補(bǔ)助的增加,企業(yè)創(chuàng)新自主投資在減少。這表明,創(chuàng)新補(bǔ)助總體而言并未有效激勵(lì)企業(yè)創(chuàng)新自主投資。進(jìn)一步研究發(fā)現(xiàn),企業(yè)行業(yè)屬性、內(nèi)部控制水平及外部環(huán)境會(huì)顯著影響創(chuàng)新補(bǔ)助的激勵(lì)效應(yīng),對(duì)于高科技、內(nèi)部控制水平較高或所處經(jīng)營(yíng)法制環(huán)境較好的企業(yè)而言,創(chuàng)新補(bǔ)助確實(shí)"如其所愿"地發(fā)揮了激勵(lì)效應(yīng)。
[Abstract]:Government "support hand" plays an important role in Rd "market failure". However, is the government innovation subsidy "as desired" or "counterproductive" in encouraging enterprises to invest independently? There is a lack of consistent and convincing empirical evidence. By eliminating the noise of non-R D subsidies and distinguishing innovation independent investment from government innovation subsidy, this paper provides new evidence from R & D investment of listed companies in China. The study found that, although the government innovation subsidy is positively related to the overall R D investment of the enterprise, the increase in R D investment for every one unit of innovation subsidy directly given by the government to the enterprise is significantly less than 1 unit, and with the increase of the government innovation subsidy, Independent investment in innovation is decreasing. This shows that innovation subsidies in general have not been effective incentives for independent investment in innovation. Further research shows that the industry attributes, the level of internal control and the external environment will significantly affect the incentive effect of innovation subsidies. For enterprises with high technology, high level of internal control or a better legal environment, Innovation subsidies do have an incentive effect "as they wish".
【作者單位】： 南京財(cái)經(jīng)大學(xué)會(huì)計(jì)學(xué)院;中山大學(xué)管理學(xué)院;新加坡南洋理工大學(xué)商學(xué)院;
【基金】：國(guó)家自然科學(xué)基金項(xiàng)目(71472047、71572038、71332004) 財(cái)政部會(huì)計(jì)名家培養(yǎng)工程項(xiàng)目(財(cái)會(huì)[2016]15號(hào)) 國(guó)家社會(huì)科學(xué)基金項(xiàng)目(15BGL060) 江蘇高校優(yōu)勢(shì)學(xué)科建設(shè)工程資助項(xiàng)目(PAPD) 江蘇省“青藍(lán)工程”項(xiàng)目 江蘇省高校哲社基金項(xiàng)目(2014SJB126) 福建省社科規(guī)劃重大項(xiàng)目(2016JDZ028)的資助
【分類(lèi)號(hào)】：F273.1;F275;F832.51

【相似文獻(xiàn)】

相關(guān)期刊論文 前2條

1 ;把支持中小企業(yè)落到實(shí)處[J];證券市場(chǎng)導(dǎo)報(bào);2004年01期

2 ;迎接自主投資時(shí)代[J];理財(cái)雜志;2005年01期

相關(guān)重要報(bào)紙文章 前1條

1 本報(bào)記者 倪銘婭　張莉;中小企業(yè)前行路不平[N];中國(guó)證券報(bào);2013年

，

本文編號(hào)：2002413