Research On The Influence Degree Of Government Subsidy And R&D Investment To Enterprise Innovation Performance

After a few years,the sales of new energy vehicles have a larger breakthrough in China.From 2016 to 2017,China's sales of new energy automobile rank the first.But market share of China's new energy vehicle is still very small.At the same time,it appeared a phenomenon of stealing subsidy in 2016.Due to,the state adjusted the margin of subsidies for new energy vehicle enterprises.Then the public have a series of questions to if the state can really inspire enterprises with innovation activities?How does the state subsidies are influence to enterprise'performance?The public are suspicion on the development of the new vehicles enterprises or companies(both named enterprises as follow)at present.And so on.In order to further understanding the development of new energy vehicle enterprises at present or future,solve a series of questions existing in public,help the state take effective management policy and enhance the strength for special funds or the enterprise managers.This paper collects the panel datum of 2012 to 2016 based on the new energy automobile stocks listed companies as the research objects.It will search the relationship between government subsidies,R&D investment and innovation performance.It will do a empirical analysis by using Eviews software base on establishing the stochastic model.The results are as follow:(1)Government subsidies have a positive influence on enterprise innovation investment,and it means that the relationship of subsidies and R&D have crowding-in effect.But it will become crowding-out effect,when there is more than some interval for them.The non-state enterprises are more easily stimulated to strengthen investment of R&D by government subsidies.(2)The investment of enterprise's R&D has a significant positive influence on enterprise innovation performance.And the abilities of the state-owned enterprise's innovations are more stronger.(3)Subsidies have a certain role in promoting to the innovation performance.And they have a relationship of inverted U shape carve.(4)As the results show that the state owned enterprises need government subsidies of0% to 5%(not including 0)to get maximum innovation performance in R&D activities,and it will perform better at the point of 3%.And the non-stated owned need subsidy of 0% to 6%(not including 0),and it will perform better at the point of 2.5%.