Research On The Compensation Mechanism Of Science And Technology Innovation Failed Projects From The Perspective Of Government

In the era of economic globalization, science and technology innovation is the path to power, and the source of social development. President Xi Jinping presented that science and technology is the base of national powerful and prosperous, and innovation is the soul of national progress at Chinese academician conference. The success of science and technology innovation projects can often solve the major technical problems in the process of national economic and social development. However, Because of their own experimental nature, science and technology innovation projects contains many unstable factors at all stages of project implementation which shows a high risk for itself, and leads to the failure of science and technology innovation projects inevitably which bring to huge losses for innovators. If China wants to become an innovative country, it must build a kind of innovation atmosphere in the field of science and technology, which make the innovators devote into innovation, no longer worried about innovation failure under huge losses,also no longer fear of social pressure of innovation failure then hesitant to move forward. Therefore, compensating science and technology innovation failed projects is very necessary and urgent.There is lack of theory research on compensating science and technology innovation failed projects currently. This dissertation makes research on compensation mechanism of science and technology innovation failed projects systematically from the perspectives of government, which includes the questions about why to compensate, how to compensate, what the compensation result to be, based on the theory and practice of government compensating these projects. This dissertation integrated using innovation theory, economics of innovation theory, risk theory, project management theory, game theory and system dynamics,makes in-depth research from the compensation mechanism of science and technology innovation failed projects, compensation mode, compensation effect, and the result simulation based on SD model and the government compensation policy system,which mainly includes the following parts:(1) Reveal the action mechanism of government compensating science and technology innovation failed projects. Firstly, from the perspective of social welfare, study the reason of government compensating innovation failed projects. The study result is found, only when the innovative ability of enterprise reaches a certain level, government compensating science and technology innovation failed projects would bring the increase of social welfare. Then using game theory, analyze different behavior strategy between government and enterprises under the condition of asymmetric information in the process of compensation. On this basis, study the process of government compensation influencing enterprises re-innovation from the perspective of government expected social welfare, enterprise technology re-innovation expected profit.(2) Put forward the compensation mode of science and technology innovation failed projects. Establish evaluation index system on compensation object of science and technology innovation failed projects and use grey comprehensive evaluation to determine the government compensation object selection criteria. Then use real options method to make sure the different compensation way according to the various stages of project failure. Finally on the basis of compensation way, study the compensation standard with various stages of project failure.(3) Analyze the compensation effect of science and technology innovation failed projects. Economic effect is divided into the growth effect and substitution effect. Social effect is divided into signal effect and employment multiplier effect. Risk effect is divided into temptation effect, constraint effect and balance effect based on the risk factors and characteristics of government compensation. Economic effect, social effect and risk effect work together to form the compensation of science and technology innovation failed projects.(4) Build the SD model on compensation result of science and technology innovation failed projects, and construct government compensation policy system. Make analogue simulation on compensation result of major scientific and technological innovation failed projects by using SD, to reveal characteristics and advantages of the compensation policy, and provide a theoretical basis for government making compensation policy decision. On this basis, constructe government compensation policy system, which includes evaluation mechanism, operation mechanism, monitoring mechanism and security mechanism, to ensure the effective operation of the government compensation mechanism.This dissertation is supported by the National Science Fund Project“Research on Resources Reallocation of Enterprise's Failed Projects”(70871095), and it is the subsequent research results for the project.