Study On Relations Among Government Subsidies,Social Responsibilities And Business Performance Of Enterprises Based On Listed Companies In The Biomedical Industry

With the development of economy,people's living conditions have been greatly improved,health concepts have become more and more popular,and the process of population aging has accelerated.The global biopharmaceutical industry has maintained a trend of rapid development in recent years.Compared with Western developed countries,China's biopharmaceutical companies started relatively late,but with the strong support of national industrial policies,this area has rapidly developed and gradually shortened the gap with advanced countries.After decades of efforts,although many objective achievements have been made,many problems have also emerged.The "toxic capsule" incident that was exposed by CCTV as early as 2012 and the "Shandong Vaccine" incident that caused public concern in 2016 and other drug safety incidents all reflected the high cost,lack of social responsibility performance,and supervision in China's biomedical industry.Insufficient efforts and other issues.In recent years,in order to guide the healthy development of the bio-pharmaceutical industry,the government has invested a lot in fund support,resource allocation and policy support.It has specifically formulated a series of development plans for the bio-pharmaceutical industry and laid out the key development directions for bio-pharmaceuticals.As the country continues to increase support,how can listed companies in the biopharmaceutical industry make efficient use of financial subsidies and how they can take into account social responsibility in the promotion of their own development is an important issue worth thinking about.Therefore,this article is based on the perspective of the enterprise life cycle,and uses a combination of theoretical and empirical methods to study the effect of governmentsubsidy resources and social responsibility commitments on the corporate performance of listed companies in the biomedical industry.This article first summarizes existing research results and research methods on the basis of systematically reviewing domestic and foreign related literature and classic theories of government subsidies,social responsibility and corporate performance.Then,the 2009-2016 listed companies in the biopharmaceutical industry were selected as the research object.Based on the perspective of the company's life cycle,the panel data was found by regression: The government subsidies of listed companies in the biopharmaceutical industry will have a significant positive effect on corporate performance;In the biomedical industry,listed companies actively assume social responsibility to stakeholders and can also significantly improve their performance.Compared with sample companies in the growth and recession period,the biopharmaceutical company's social responsibility in the mature period has a bearing on corporate performance.The promotion effect is even more pronounced;similarly,the government subsidies enjoyed by companies in their mature stage are more significant than the positive adjustments of government subsidies enjoyed by enterprises in the long-term and recession period for social responsibility performance and corporate performance,which validates the assumptions in this paper..Finally,according to the empirical test results,combined with the development status of China's bio-pharmaceutical industry,put forward corresponding policy recommendations.