An Analysis of the Impact of Government Subsidies on Innovation Enthusiasm of Manufacturing Enterprises from the Perspective of Institutional Environment
An Analysis of the Impact of Government Subsidies on Innovation Enthusiasm of Manufacturing Enterprises from the Perspective of Institutional Environment
XUE Yang1, HU Lina2
1. School of Economics and Management, Inner Mongolia University of Technology, Hohhot 010051, China; 2. Chinese Academy of Financial Sciences, Beijing 100142, China
Abstract Based on the perspective of institutional environment, this paper examines the impact of government subsidies on the innovation enthusiasm of manufacturing companies, and discusses the heterogeneous factors such as the ownership and life cycle of manufacturing companies. The results show that: (1) Government subsidies can increase the R&D investment in manufacturing companies, and significantly increase the innovation enthusiasm of manufacturing companies. At the same time, the optimization of the institutional environment is conducive to enhancing the role of government subsidies in the innovation incentive effect of manufacturing companies. (2) From the perspective of the nature of ownership, the incentive effect of government subsidies on innovation of non-state-owned manufacturing enterprises is stronger than that of state-owned manufacturing enterprises. Under the effect of the regulatory effect, the regulatory effect of the institutional environment of state-owned manufacturing enterprises is higher than that of non-state-owned enterprises. (3) From the perspective of the life cycle of enterprises, the incentive effect of government subsidies on innovation in manufacturing enterprises is most significant in the growth period of the enterprise, followed by the start-up period, but not in the mature period. Life cycle effects are not significant.
XUE Yang,HU Lina. An Analysis of the Impact of Government Subsidies on Innovation Enthusiasm of Manufacturing Enterprises from the Perspective of Institutional Environment. Economic Survey, 2020, 37(6): 088.
2020, Vol. 37 
