Government Subsidies,Spatial Agglomeration And Innovation Performance

In order to cope with the fierce competition of international economy environment,improve the international competitiveness of the domestic economy,all over the world continues to formulate economic or industrial policy,and strive to seize commanding heights of economy in the new round of economic competition,especially in technology innovation,however due to technical innovation with high risks and spillover effects,as well as market failure and external factors such as the existence of a positive lower tendency of enterprises engaged in R&D innovation.In order to improve the enthusiasm of innovation activity or lack of innovation investment level,the government subsidy policy is often adopted by governments,including our governments.Although the role of government subsidies in the process of technological innovation has always been the focus of attention of scholars,but Judging from the present situation,the effect of government subsidies for innovation is still in dispute state.In the past,scholars focus on government subsidies,R&D investment and corporate performance or corporate innovation performance.However the relationship between the two or the relationship between the three,less involved the relationship between government subsidies and markets mechanisms in the last studies.In the study of the impact of the government subsidy policy on innovation performance,this paper integrates the spatial agglomeration effect into the market mechanism,which makes the research content more abundant.This paper applies the method of combining theoretical analysis and empirical research.Firstly,explain concepts of high-tech industries,government subsidies,as well as the technology innovation theory,market failure theory,principal-agent theory and asymmetric information and signaling theory;Secondly,analyzes the impact of government subsidies on innovation and agglomeration effect on innovation and the effect of agglomeration and government subsidies on location of the enterprise.According to the theoretical analysis part puts forward the research hypothesis;finally select high-tech industry from 2005 to 2007 of the 3830 companies as the research object,establishing panel data model,and grouping research of enterprise samples,Empirical analysis of the relationship between government subsidies and spatial agglomeration market mechanism and the innovation performance of enterprises.In this paper,through the study of empirical analysis draw the following conclusions:(1)government subsidies can significantly improve the enterprise's innovation performance level,namely,government subsidies have innovation effect,to a certain extent,promote the development of high technology industry,and further studies found that the relationship between government subsidies and enterprise innovation shows inverted U-shaped type,indicating that the government subsidies possess the optimal threshold value of innovation effect.(2)It shows that industrial agglomeration in the geographical region of space,creating a cluster effect conducive to innovation,from this perspective,the government policy should actively affect the enterprise location choice,in order to promote the degree of agglomeration in the geographical area of enterprise.(3)The government subsidy has no significant influence on the agglomeration of the enterprises in the geospatial area.On the whole,the government subsidy policy does not positively affect the enterprise location choice,and does not promote the agglomeration effect which is conducive to innovation.However,in the small business scale group,the government subsidy has a significant positive impact.That is,the government subsidy policy promotes the small businesses in the geographical space area of the gathering.(4)Through the overall empirical analysis,we consider that the spatial agglomeration effect does not play a mediating role between government subsidies and innovation performance,indicating that the government subsidy policy and agglomeration effect of this market mechanism is out of touch,there is a certain degree of coordination between the two.However,in the small enterprise scale grouping,the spatial agglomeration effect plays an intermediary role between government subsidy and innovation performance.