Research On The Influence Of Government Subsidies On Enterprise Innovation Performance Of Strategic Emerging Industry

The innovation-driven recently emergent strategic industries which have characteristics such as efficient resource utilization,high technology and high added value,meet the demand of the transformation of economic growth pattern in our country.At the same time,they have important strategic significance to the pursuit of economic growth and the upgrades of industrial structure,promoting the economic social development and prosperity.Therefore,the government has paid more and more attention to recently emergent strategic industries.Especially in recent years,the government has poured huge subsidies into strategic emerging industries,and the forms of subsidies have become more and more comprehensive,which have greatly accelerated the development of strategic emerging industries.However,does the government's support force the company's innovation program to its intended effect?And how should the government adjust the subsidies properly?No doubt that innovation is the core of the industry's development.The sustainable development of strategic emerging industries to a large extent depends on whether the government subsidies to promote innovation and improve the level of business performance.Based on this background,this thesis studies the impact of government subsidies on innovation performance of corporations,expecting able to expand the mind of researches and judge the effectiveness of government's incentives more comprehensively.In this paper,the research contains five parts altogether.The first chapter is introduction and mainly introduces the background and research significance of the topic.It systematically reviews and comments the domestic and foreign research literature on government subsidies and corporations' innovation performance.Meanwhile,this chapter describes the research ideas,research methods,innovation points and research characteristics of this paper.The second chapter introduces the relevant theoretical basis in detail.First,this paper defines the strategic emerging industries,government subsidies and enterprise innovation performance,and expounds the relevant theory of government subsidies influencing the innovation performance,including stakeholder theory,external theory,principal-agent theory,information asymmetry theory and resources acquisition theory.The third chapter is theoretical analysis and research hypothesis.This part is a simple analysis of the status of government subsidies in Chinese strategic emerging industries.At the same time,in-depth analysis of the effect of government subsidies on the innovation performance of enterprises,based on the hypothesis of article research.The fourth chapter is the experimental test on quoted corporations in Shanghai and Shenzhen A-share markets which belong to recently strategic emerging industries by Dec 31th,2015.By the establishment of regression model,the impact of government's subsidy behavior on the innovation performance of strategic emerging industries is analyzed.The fifth part is the research conclusion of the article.We put forward some relevant suggestions and points out the deficiency of research and future outlook,in order to promote the perfection of government subsidy policy.The conclusions of this paper are as follows:(1)There is a significant positive correlation between the government subsidies of strategic emerging industries and the performance of enterprises'innovation.The government subsidies have a positive effect on the innovation performance of strategic emerging industries.(2)The shareholding nature of the state-owned shares will reduce the positive correlation between the government subsidies of strategic emerging industries and the performance of innovation.(3)The higher concentration of equity will reduce the positive correlation between the government subsidies of strategic emerging industries and the performance of innovation.The characteristic and the innovation of this paper is to analyze the innovation performance difference of government subsidies from the internal characteristics of enterprises.The research is based on enterprises:But the previous-studies on the one hand,more focus on regional and industrial perspectives.On the other hand,it more pay attention to the link between R&D subsidies and R&D investment.The foothold is innovation investment.This paper studies increased the depth of the article.