| Since reform and opening up,China's economic strength is constantly enhanced,all levels of government fiscal revenue is also increasing,but in recent years,the economic development of China at a slower pace,China's economic development into the "new normal" mode,along with our country resources consumption increasing,i_ncreasingly fierce competition at home and abroad,China's economic transition facing bigger pressure,how to smoothly transition in the process of econormic development and complete the beautiful soft landing,it is a key to economic development.Fiscal policy system as an important part of modern governance system,is the link between the government and the market,in order to make to get efficient allocation of resources,improve vitality and competitiveness of enterprises,the government will make the financial income of enterprise implementation of appropriate subsidies.But,our country government entities at all levels in the enterprise to organize the implementation of fiscal subsidies will be affected by some external and internal factors,enterprises in such aspects as capital,technology,profit,scale tend to have different processing mode of operation,whether fiscal subsidy policy for the enterprise how to impact on business performance will be,what factors influence the function of enterprise operating performance.This article through studies our country finance subsidy policy impact on business performance of the implementation of the theoretical and practical aspects,for the fiscal policy in the future related path,standard,mode,and further improve and optimize the innovation mechanism of scientific opinion and the suggestion.Ganzhou city of jiangxi province is the rare earth kingdom,the world tungsten,is the domestic tungsten ore and smelting products main producing area,the distribution center.As a result of macroeconomic,local corporate investment motivation,face greater downward pressure on main economic indicators,the local government finance subsidy policy,policy involves three departments,18 enterprises,the total capital of 100 million yuan.Accepted fiscal policy support in jiangxi province,this article selects the ganzhou city 18 local enterprise data from 2011 to 2015 as the research sample,this study using externality theory,asymmetric information theory,and based on the theory of public finance theory of incentive compatibility through SPSS software on the sample data using descriptive statistics,factor analysis,correlation analysis,and regression analysis methods,such as 18 large and medium-sized enterprises in shenzhen city in 2011?2015 empirical data for empirical analysis.Characterization in the samples and found that all enterprises have the money for research and development,the proportion is as high as hundred,selection according to the survey and research topics related to the dependent variable and independent variable indicators,the variable initial partial correlation analysis between the dependent variable return on net assets and government subsidies,market position,enterprise industry chain,product sales range of variables,such as correlation coefficients are all positive,indicator variable policy measures evaluation factors and policy program evaluation factors and dependent variable return on net assets of the correlation coefficient is negative,but related numerical are smaller.By means of regression analysis,return on equity dependent variable and the independent variable for further found that subsidies amount,measures of policy evaluation factor,policy,program evaluation factor that several variables were significantly influence to enterprise's net assets yield,but the coefficient is negative,that the more government subsidies amount,the higher the policy evaluation,and profitability.Enterprise market position,and have no effect on the enterprise's net assets yield and scope of product sales and the industry has a positive significant effect on return on equity,explain product sales range is wider,enterprise has subordinate enterprises,the enterprise's net assets yield is higher,the stronger the profitability.Through the investigation of ganzhou city enterprises and data analysis,results show that the subsidy amount,measures of policy evaluation factor,policy,program evaluation factor to enterprise's return on net assets are negative correlation relationship,the three indicators of the independent variable is the government subsidies,and the influence coefficient were negative.Scope of product sales,the enterprise industry chain the two measures has a positive significant effect on return on equity,that the market status of enterprises and enterprises of the industrial structure can effectively improve the profitability of the enterprise.The results show that the government subsidies for the improvement of enterprise operating performance is not efficient,and the government's financial aid does not bring the improvement of corporate profitability,and,in the market and industry has occupied a certain scale and influence of enterprise,its profitability has significantly improved.This article think the government should improve enterprise development with the help of the form,the Suggestions to reduce the government's direct subsidies,could create looser for the rapid development of the enterprise market environment,support the enterprise technological innovation ability and system,give play to the role of finance and economy oriented,help the company improve the market competitiveness to guide the development of the enterprise,increasing the service efficiency of fiscal funds,adjusting fiscal subsidy funds use direction.In this paper,in the process of writing,is used for the analysis of the sample data of 2011?2015,and our country's economy and policy changing,this paper is applied to the analysis of selected variables and data is also changing.In addition,although the study will all meet the requirements of the financial reward companies included in the sample,the scale of 18 companies covered all of the sample size,but the sample amount is too little,lead to the analysis result has certain limitations,the USES of the conclusion will have certain restrictions. |
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