The Impact Of Fiscal Science And Technology Expenditure On Enterprise R D Investment

Since the 18 th National Congress of the Communist Party of China,the Party Central Committee with Comrade Xi Jinping as the core has attached great importance to scientific and technological innovation,forming a complete system from thought to strategy to action.Innovation is the first driving force for development,which is not only an important force for the development of a country and a nation,but also an important force for advancing human society.Under the background of deepening supply-side reform and accelerating the construction of innovative countries in China,based on the national innovation theory system,this paper explores the impact of funded enterprises,universities,and R&D institutions on self-raised R&D investment of enterprises,which is conducive to implementing the spirit of the important speech of General Secretary Xi Jinping and the spirit of the National Science and Technology Innovation Conference,and promoting the implementation of innovation-driven development strategy.In the framework of the national innovation theory system,this paper starts from the macro level,takes the industrial enterprises above designated size from 2009 to 2016 as the data sample and uses GMM method in order to study the impact of direct governmentfunded enterprises,universities and R&D institutions on self-raised R&D investment.Among them,the national innovation system is a network system formed by the interaction of multiple innovative actors.The main actors include government,enterprises,universities,R&D institutions and intermediaries,and the actors are interrelated and synergistic.In this system,enterprises are the mainstay of technological innovation.Universities and scientific research institutions are the main body of knowledge innovation and the source of scientific knowledge and innovation.The government is the coordinating body and policy supporters and directors.In the national innovation system,the main tasks of fiscal science and technology expenditure are to inspire,introduce,transform,disseminate,apply new knowledge and new technologies,allocate innovative resources,optimize industry and organizational structure,and promote national innovation activities and economic development.However,in fact,although the current fiscal technology expenditure is beneficial to promote enterprises to increase R&D investment to a certain extent,and to make the status of enterprise innovation main body more prominent,there are still problems such as relatively insufficient expenditure,imperfect structure and low stability.Based on the theoretical analysis and the analysis of the status quo,this paper first tests the impact of the overall fiscal technology expenditure on the R&D investment of enterprises,and then examines the marginal effects and interactions of the government's financial and technological expenditures on enterprises,universities and R&D institutions,and finds China's financial technology.The role of expenditure promotion is weak,and the expenditure structure is imperfect,resulting in insufficient cooperation between industry,universities and research institutes.On the basis of systematically reviewing the previous studies,this paper systematically analyzes the flow of financial science and technology expenditure and enterprise R&D investment,and attempts to study the impact of fiscal science and technology expenditure on enterprise R&D investment from the national innovation theory system,which provides a new perspective for research in this field.It provides theoretical support for China to maintain stable growth of fiscal science and technology expenditure,optimize the structure of fiscal science and technology expenditure,and establish a coordinated development mechanism of industry,university and research.