Research On The Influence Of Government R&D Subsidies On Technological Innovation Of New Energy Vehicle Enterprises

The development of new energy vehicles can not only alleviate the pressure of energy shortage and environmental pollution,but also provide the possibility for new economic growth points.The key to the development of new energy vehicle enterprises is technological innovation,in which how to play a positive role of the government and its relevant policies is very important.Financial subsidy is a conventional way for government departments to support the development of new energy vehicle enterprises,and China is no exception.Especially after 2009,various subsidy policies have been issued,the development of new energy vehicle enterprises has entered the fast lane,the overall level of technological innovation has been greatly improved,but there are still problems such as insufficient battery energy density and long charging time.The government’s financial subsidies to new energy vehicle enterprises are divided into two parts,one is research and development subsidies,the other is purchase subsidies.R & D subsidies aim to directly promote the technological innovation behavior of enterprises;purchase subsidies aim to encourage technological innovation behaviors of enterprises by expanding market demand.Experts and scholars have done more research on the consumer side purchase subsidy,but from the perspective of theory and practice,the effect of purchase subsidy is not good,and the phenomenon of fraud compensation is widely criticized.Since 2015,the government has made it clear that purchase subsidies should be "regressed",and the relationship between R & D subsidies and technological innovation of enterprises has gradually become a research hotspot.The existing literature shows that R & D subsidies are not necessarily related to technological innovation of enterprises,and the incentive effect will be affected by many factors.Therefore,we need to find new evidence for the incentive effect of R & D subsidies on technological innovation of new energy vehicle enterprises.Quantitative research on the effect of Government R & D subsidies is of great practical significance.Based on the above considerations,this paper aims to study whether R & D subsidies have incentive effect on technological innovation of new energy vehicle enterprises,and explore the impact of enterprise scale,establishment time,asset liability ratio,human cost,property right nature and other factors on the technological innovation of new energy vehicle enterprises,enrich the relevant literature on the effect of R & D subsidies on technological innovation of enterprises,and promote China’s subsidy system Finally,some useful suggestions are put forward for the future development of new energy vehicle industry.Firstly,this paper sorts out,compares and evaluates the literature related to the research content,so as to lay the foundation for further research of the paper.Secondly,based on the theory of technological innovation,crowding in effect and R & D subsidy,this paper analyzes the influence mechanism of R & D subsidies on technological innovation,and then puts forward three hypotheses.Finally,this paper takes the patent applications of 17 Listed Companies of new energy vehicle industry main board from 2011 to 2018 as the dependent variable,the Government R & D subsidy as the core independent variable,and takes the enterprise’s own scale,establishment time,asset liability ratio,human cost and property rights as control variables,and uses regression model to analyze the policy effect.The main conclusions are as follows:(1)as far as the sample of this study is concerned,R & D subsidies can promote the growth of patent applications.(2)Among the vehicle manufacturing enterprises in the new energy automobile industry,the smaller the enterprise scale,the less the labor cost,the younger the enterprise age,and the enterprise nature belongs to the private enterprise,the output effect is the best after being subsidized by the government.(3)The stimulating effect of Government R & D subsidies on technological innovation of new energy vehicle industry lags behind.We can clearly see that the government’s R & D subsidies are effective for the technological innovation of China’s new energy vehicle manufacturing enterprises.In the process of daily production and operation,due to the influence of internal R & D level or external environment,enterprises can effectively improve the level of technological innovation by means of capital injection guided by government R & D subsidies.The government can further improve the efficiency of subsidy funds,reduce the waste of public resources,and help companies optimize the internal R & D system and improve the level of corporate governance,so that enterprises can grow and develop better.Finally,this paper suggests that,first,implement a slow decline policy of R & D subsidies.Government subsidies for product R & D can encourage and improve the overall technological innovation level of vehicle manufacturing enterprises in the new energy vehicle industry.At present,the policy is positive and effective for industrial development.Second,improve the R & D subsidy review system and implement diversified subsidy policies.When reviewing the new subsidy projects,the government must adhere to the selection criteria of independent innovation and efficiency priority,and comprehensively consider various enterprise characteristics such as enterprise scale and leverage ratio,so as to ensure that the government’s R & D subsidy funds can be fully utilized and get the due practical effect.Third,establish a reliable punishment mechanism.The lack of punishment mechanism and only compensation mechanism is the key reason that some new energy vehicle enterprises have the courage to bear the risk of fraud.Therefore,the establishment of a reliable punishment mechanism is an important guarantee to ensure the standardized use of subsidy funds.Fourth,we should vigorously support technological research and development of enterprises and cultivate their awareness of intellectual property rights.The government should set up a national new energy vehicle industry investment fund to help enterprises make up for the weak links in the whole industry,and integrate resources from enterprises and universities to tackle the key technical problems such as lithium battery materials and key integrated circuits.Focus on shaping the concept of enterprise intellectual property rights,and improve the core competitiveness of vehicle manufacturing enterprises in China’s new energy automobile industry.