Research On The Economic Consequences Of Government Subsidy To Enterprise Innovation Performance And Other Performance

The new energy automobile industry,which is a strategic emerging industry in the country,has developed well in recent years and achieved phased results.In the development of the industry,the government has given strong support.Government subsidies are one of the important means for the state to guide the rational and healthy development of enterprises and accelerate the adjustment and upgrading of industrial structure.Moreover,China's government subsidies for new energy auto companies are strong,and whether government subsidies can effectively promote innovation performance and other performance of enterprises.Therefore,it is necessary to explore its impact mechanism on the enterprise.As a leading company in the new energy automobile industry,BYD has received a high amount of government subsidies and is highly representative.This paper selects the relevant data of BYD from 2011 to 2017 as the case analysis object.Firstly,it analyzes the development status of the new energy automobile industry and the status quo of government subsidies from the perspective of time trend and industry development perspective,and analyzes the motivation of BYD to obtain government subsidies.Then,construct relevant indicators,and study the economic consequences of government subsidies on BYD enterprises from the perspectives of innovation performance,financial performance and attracting external investment,and clarify the impact path and mechanism.Among them,innovation performance is selected from three dimensions:innovation input,innovation output and innovation efficiency.Through research,it is found that: First,government subsidies have a significant positive impact on BYD's innovation performance,which can significantly increase innovation input,efficiency and output.Second,government subsidies have a certain positive impact on BYD's financial performance.The impact can improve short-term profitability and solvency,but can't improve operational capacity.Third,government subsidies can make BYD attract more external investment.Finally,this paper combines research analysis and conclusions,and gives recommendations from three levels: business,government and investors.