The Impact Of Government Technological Subsidy On The Innovation Performance Of Enterprisers

The externalities of technological innovation lead to market failure.As an important government macro-control policy tool,government science and technology subsidy has played an important role in promoting independent innovation and scientific and technological progress.The Chinese government has always maintained a high pressure on corruption,especially since the 18 th National Congress,the anti-corruption struggle goes to the depth of development toward institutionalization and legalization,it will have the effect of government science and technology subsidy policy.This paper takes the innovation performance of government science and technology subsidy enterprises as the research object,combines with anti-corruption background,studies the role of anti-corruption in the government's scientific and technological subsidy affect the innovation performance of enterprises,the result is of great significance to the government's subsidy policy and corporate governance.Firstly,Based on the theory of government intervention,the signal transmission theory,rent-seeking theory and resource-based theory,this paper analyzes the mechanism of government intervention in science and technology subsidy;the signal mechanism of resource acquisition and political communication in the government science and technology subsidy;the action of enterprises to obtain government science and technology subsidy through rent-seeking,and the mechanism of anti-corruption in government science and technology subsidies' influence on the innovation performance of enterprises.Secondly,Based on China's fiscal decentralization system,government subsidies of science and technology system and system of anti-corruption system background,it shows that government science and technology subsidies is also becomes the target of corruption rent-seeking,and the influence of rent-seeking cost of anti-corruption in government science and technology subsidies.Finally,the listed companies from Shanghai and Shenzhen A-share manufacturing enterprises in 2009 and 2015 is selected,this paper analyzes the role of anti-corruption in government science and technology subsidy affecting enterprise innovation performance.Based on China's institutional environment and enterprise's characteristics,the influence law of anti-corruption for government subsidy policy effect science and technology is further explored,research findings:(1)the government science and technology subsidy has a significant effect on the innovation behavior of enterprises.Anti-corruption has enabled the government to allocate the scientific and technological support resources rationally,and further strengthened the government's support for the innovation performance of the enterprise.(2)relative to the central government's science and technology subsidies,the anti-corruption plays a significant positive role in promoting enterprise's innovation performance of the government science and technology subsidy of local government;Relative to the low marketization degree region,the anti-corruption plays a significant positive role in promoting enterprise's innovation performance of the government science and technology subsidy in high marketization degree region;Whether in upside and downside economic period,government science and technology subsidies have promoted the innovation performance of enterprises,and anti-corruption has also played a significant positive role.(3)relative to the non-political affiliated enterprises,corruption has played a significant role in the relationship between government science and technology subsidy and enterprise innovation in the political affiliated enterprises;Relative to the state-owned enterprises,corruption has played a significant role in the relationship between government science and technology subsidy and enterprise innovation in the non-state-owned enterprises;Relative to the high independent R&D investment enterprises,corruption has played a significant role in the relationship between government science and technology subsidy and enterprise innovation in the low independent R&D investment enterprises.On the basis of the above research conclusions,in order to improve the effect of government subsidy policy,the paper puts forward to improve the anti-corruption system and construct a fair environment for the allocation of subsidized resources.Establishe government subsidy information disclosure system to improve government subsidy transparency;weaken administrative intervention of government subsidies and create a fair market environment;setting up audit mechanism of government subsidy to strengthen policy recommendations for the allocation of subsidies allocation.