The Influence Of Government Subsidy To The Enterprise Technology Innovation

Social progress and economic development cannot do without technology innovation. China is now in a critical period of transformation and development of the socialist market economy, realize the national economy to develop faster and better is the core and key content of China’s economic development strategy. In the background of building an innovation oriented country, enhance the level of enterprise’s technological innovation capability is the cornerstone of all. Facing the present situation of technological innovation of our enterprises lack of investment, to ease or even solve the problem should be the focus of the government, enterprises and academic circles.Firstly, based on the theory of economic growth, public goods and externality theory, demand theory, asymmetric information theory and signaling theory as the theoretical basis of this paper, explains the technological innovation is the inherent driving force for national economic growth; analysis of enterprise technology innovation activities, there is the phenomenon of market failure; points out that the market demand and the financial constraints two important factors that influence the technology innovation of enterprises; the mechanism of government subsidy of proven technology of enterprise technology innovation. Then, on the basis of this, this article selects 2009-2013 A shares on the main board of trade of listing Corporation as the object of study, using correlation analysis, single factor analysis of variance and multiple linear regression model to test the dummy variable of government science and technology subsidies affect the enterprise technology innovation, provides empirical evidence for the government of China’s science and technology policy of subsidies. Finally, based on the empirical research findings, combined with the status quo of listing Corporation technology innovation investment and government subsidies for science and technology in China, put forward the relevant policy recommendations from the three aspects of enterprise, government and regulatory authorities.The main conclusions of this research are:(1) compared with the low scale of market demand, the market demand scale can significantly promote the technological innovation of enterprises invested, and government subsidies can significantly increase the science and technology promotion.(2) low intensity of financing constraints, high strength of financing constraints can inhibit the enterprise technological innovation investment are obvious, but the government science and technology subsidies can effectively alleviate this inhibition.(3) the government subsidies in the effect of different technological enterprise technological innovation in different market demand scale and different financing constraints in the environment of independent input intensity, the incentive effect is most obvious in the size of the market demand is high, the high financing constraint intensity in the environment of enterprises, followed by the high market demand, low financing constraint intensity environment in the enterprise, the scale of market demand is low, the high financing constraint intensity in the environment of enterprises, and for those who are in the low market demand scale, low financing constraints in the environment of enterprises, government subsidies for the independent innovation of science and technology investment has significant crowding out effect.