A Research On The Impact Of Government Subsidy On Enterprise R&D

Currently,there has been a new industrial revolution which is represented by information network,intelligent manufacturing,new energy and new materials.The Chinese government has gradually changed the thinking of economic development,and trying to let China become a "Innovation Country" instead of "Manufacturing Country".At the same time,in the process of China’s market operation,government subsidies is an important way for our government to encourage and realize enterprise R&D innovation.Under the guidance of a series of policies,such as "The Strategy of Invigorating The Country Through Science.Technology and Education" our government in、vests a lot of financial funds every year to support the R&D and innovation activities of enterprises.However,the reality also tells us that,the capability of independent innovation of China’s enterprises is still facing development bottlenecks,and the overall capability of independent innovation is not strong.Therefore,based on the above realistic background,this paper studies the impact of different ways of government subsidy on R&D investment from the perspective of new research of micro-enterprises.On the basis of analyzing the effect of government subsidy on the R&D investment of the enterprise,we use the panel regression and the panel quota regression to examine the feedback of-the different subsidy methods of the government,and then use the 2010 A-share listed companies Of the data carried out empirical tests to further explore what kind of governnment subsidies for enterprise R&D investment and performance more helpful.In this paper,it is found that government subsidies can effectively promote the R&D investment and performance improvement.If the government wants to guide the R&D activities through a single type of subsidy,the tax incentives are the better policy options.The government can consider High-tech industry in the industry dominant position of the government’s direct subsidy;when the government received direct government subsidies and tax benefits coexist.if the enterprise is expected to become the main body of research and development of enterprises to continue to subsidize the government to use more tax incentixves This indirect way of subsidy.