【摘要】 企业的创新性活动是经济高质量发展的重要驱动力。本文探讨了在竞争性领域如何合理投放政府补助资金的问题,并基于中国专利申请数据和上市公司财务数据,实证分析了政府补助对竞争性领域企业创新的影响。在影响路径方面,本文发现,政府补助在企业前期的创新人才、资本投入中起到了降低创新成本、分散研发风险的正向激励作用;政府补助起到了分散风险、增加创新绩效的作用,对于企业无形资产提升具有显著正向影响,但对企业不同专利产出的影响不尽相同,对发明型专利有一定促进作用,而对实用新型和外观设计专利的影响并不明显。进一步的回归结果表明,政府补助对民营企业的激励效应大于国有企业,在资本密集度较低的企业中表现出更好的创新绩效,与此同时,处于较好的产权保护地区的企业受到政府补助的正向影响比较显著。更多还原

【Abstract】 The firms’ innovative activities are important driving force for the high-quality development of the economy in China. This article explores how to properly fund government grants in competitive fields. Based on the Chinese patent application data and the financial data of listed companies, the paper empirically analyze the impact of government subsidies on firms’ innovation in the competitive field. In terms of the impact path, this paper finds that government subsidies play a positive incentive role in reducing innovation costs and diversifying R&D risks in the early stage of innovative talents and capital investment. But for firms’ innovation output benefits, government subsidies have a significant positive impact on the improvement of intangible assets of enterprises, but they have different effects on different patent outputs of enterprises, and the impact on utility and design patents is not obvious. Further regression results show that government subsidies have greater incentive effect on private enterprises than state-owned enterprises, and show better innovation performance in enterprises with lower capital intensity. At the same time, enterprises in areas with better property rights protection receive government subsidies. The positive impact is significant.更多还原