Research On The Behavior Between Government Subsidies And Innovation Of Listed Corporations In China

Under the background of China's transitional economy,the economic growth model is driven by the extensive elements to innovation-based innovation.Innovation is increasingly becoming a key factor in enhancing national competitiveness.The world's most technologically advanced countries have verified that enterprises are the main body of national innovation.How to effectively promote corporate innovation is an important issue that companies and governments pay close attention to.In recent years,the state has introduced a series of policies to promote the innovation of listed companies in China,such as providing government subsidies.However,the efficiency of corporate innovation and the use of resources are generally low.Corporate executives are the core figures in business operations,and the expectation that modern society has given top leaders effective promotion of corporate innovation has reached an unprecedented height.The paper takes the background of the heterogeneity of executives as the starting point,explores the effect of government-enterprise relations in corporate innovation,and reveals the intrinsic role of government subsidies,the background of corporate executives,and the innovative behavior of Chinese listed companies.The main research conclusions of this paper are as follows:(1)At present,the distribution of government subsidy resources in China is unfair.Compared with companies with senior executives who have no government background,technical background,and highly educated background,listed companies with this background tend to get higher companies to be relatively high R&D subsidies.(2)Where the three background features of senior executives are favorable to companies receiving government subsidies,the government background of senior executives has not significantly promoted the innovation of listed companies,and the technical background of senior executives and the background of individuals with high academic qualifications have significantly promoted.Chinese listed company innovation.(3)Companies with high technical background and highly educated background need not spend a lot of resources to seek rent.The government background owned by the senior management of the company can promote the enterprises to enjoy high subsidy resources.At the same time,it also increases the social burden of the company.For example,helping the authorities to solve the employment problem,the company produces redundant employees.(4)With government subsidies as an intermediate variable,there is no direct effect between the senior government's government background and corporate innovation,which is a full mediating effect model.There are both technical backgrounds of senior executives and academic backgrounds of senior executives and corporate innovations.Direct effects also have mediating effects.Based on the results of this study,we believe that companies and governments should change from the following levels:(1)Fundamentally reduce the phenomenon of establishing contact between the government and the enterprise and reduce the associated costs of the company(2)Improve the company's research system and upgrade the technical level of senior management personnel;(3)Strengthen the requirements for the personal qualifications of senior executives and create a good knowledge environment;(4)The government should reduce its intervention in economic activities,and in particular,weaken the government's various intervention policies for enterprises.