Analysis On The Influence Of Government Subsidy On R&d Investment Of New Energy Automobile Industry

The current climate warming problem is becoming serious,many countries have invested heavily in the development of new energy.New energy vehicles can not only effectively alleviate the greenhouse effect,but also represent the future direction of the automobile industry's transformation and development.Since 2010,new energy vehicles have been included in one of the strategic emerging industries,it has been at the cusp for years.The development of new industries will inevitably rely on scientific and technological innovation,but it will have high risk and spillover effects which will lead to"market failure",making the widespread lack of private sector R&D investment.In order to solve this problem about the lack of investment caused by "market failure",governments will generally adopt the subsidy policy,so as to promote the level of the enterprise innovation.Therefore,as a way to promote technological innovation investment,government subsidies has played a pivotal role.From the beginning of 2013,the new energy automotive industry entered a stage of rapid development,the firms had enjoyed the government's Pratt&Whitney subsidies,and it made the government and the public to think about the need for new energy automotive industry subsidies due to the cheating up event occurred by the end of 2015,Therefore,this paper studies have attempted to find out whether government subsidies will promote investment in new energy vehicle R&D activities.This paper collects data from the 2010-2015 listed companies in the new energy automotive industry.by establishing panel data model,this paper analyzes the impact of government direct subsidies and tax incentives on R&D investment of new energy automobile enterprises.The empirical results show that the government direct subsidy can effectively promote the R&D activities of new energy vehicles listed companies,but income tax incentives have no significant impact.In the early development of the industry,the government direct subsidy policy has a strong pertinence,and the reaction is also very rapid,it can provide specific financial support in a short period of time for specific enterprises,and then encourage enterprises to increase investment in R&D activities,this advantage is not available for tax incentives.At present,the current development of the industry mainly depends on the government-led,making the scale of the rapid expansion,but the industry's technological innovation capacity is still weak.Based on the results of empirical research,the actual situation and existing research,this paper puts forward some policy suggestions for the government management organization in combination:(1)using direct subsidy mainly and supplemented by tax incentives;(2)establishing a sound regulatory system,strengthening the relevant legislative work;(3)adjusting the government subsidies for new energy automotive industry policies and improving the access threshold.