Study On The Influences Of Governmental Subsidies On Technical Innovation Of New Energy Vehicle Enterprises In China

Government subsidy is of great importance for new energy vehicle enterprises’ technical innovation.This paper analyzes the influences of governmental subsidies on new energy vehicle enterprises’ technical innovation from the theoretical and empirical perspectives.Combined with the results,this paper puts forward the suggestions.This paper firstly analyzes the theoretical mechanism of the influences of governmental subsidies on new energy vehicle enterprises’ technical innovation,according to new energy vehicle enterprises’ technical innovation’ double externality problems.Secondly,based on evolutionary game theory,an evolutionary game model about governmental subsidies and new energy vehicle enterprises’ technical innovation was adopted to explore the impact of governmental subsidies on the self-R&D efforts and technical import of new energy vehicle enterprises.Finally,by using a Multi-stage Difference-in-Differences(Multi-stage DID)method and taking the 2008-2017 China’s New Energy Vehicle enterprises as a research sample,this paper empirically investigates the impact of promotion subsidy on technical innovation of new energy vehicle enterprises.Furthermore,whether the decrease of promotion subsidy rate can promote new energy vehicle enterprises’ technical innovation is also investigated.Based on the results,we conclude that firstly,governmental subsidies may promote the self-R&D efforts of new energy vehicle enterprises while exceeding the threshold and turning into compensating for the double externality problems of technical innovation,otherwise it may promote the technical import.Higher success rate of R&D activities will promote the selfR&D efforts of new energy vehicle enterprises.With the high success rate of R&D activities,a favorable environment for innovation may promote the self-R&D efforts of new energy vehicle enterprises,while unfavorable environment may promote the technical import.Secondly,China’s government subsidy policy for new energy vehicles is shifting from the supply side to the demand side,and promotion subsidy for new energy vehicles has become a key demandside subsidy.Facing abundant subsidies,some new energy vehicle enterprises increase production inputs,and decrease inputs on new technology development.The empirical results show that promotion subsidy has a positive and significant impact on technical innovation of new energy vehicle enterprises.The impact increases when the promotion subsidy rate decreases.When considering the influences of government procurement and exemption on purchase tax,the positive impact of promotion subsidy still remains significant.