Research On The Relationship Between Government Subsidies And Innovation Performance Of High-tech Enterprises

China's economic growth model has always been based on extensive growth,relying on a large amount of resources for a long time.Because of the rising labor cost and the increasing shortage of resources,the extensive economic growth model is no longer suitable for the current economic environment.Enterprise innovation,as a breakthrough to change it,is one of the important means for Chinese enterprises to improve their market competitiveness.However,due to the externality of enterprise innovation activities,the enthusiasm of enterprise innovation is not high.Therefore,government subsidy,as an important means of government intervention,have been widely used by governments to intervene and stimulate innovation,and to provide incentives for market innovation.As a transitional economy with rapid development,China's market environment is relatively complex,and in recent years,the government has vigorously strengthened subsidies for enterprise innovation.This paper studies the relationship between government subsidies and innovation performance in different ownership enterprises,which has certain theoretical and practical significance.Firstly,this paper uses literature review method to review the existing research results at home and abroad,and to study the domestic and foreign research on government subsidies,innovation performance and the relationship between the two,to understand the regulatory role of ownership on the relationship between government subsidies and innovation performance of high-tech enterprises.Secondly,this paper makes an empirical study on the relationship between government subsidies and innovation performance of high-tech enterprises,discusses whether government subsidies can promote innovation performance of enterprises,and compares the incentive effects of government subsidies,tax incentives and innovation performance of different high-tech enterprises through the analysis them.Thirdly,the paper classify and analyze high-tech enterprises of different ownership types,to compare the impact of government subsidies on innovation performance of state-owned and non-state-owned high-tech enterprises,and analyze whether ownership is an important factor affecting the acquisition of government subsidies and the realization of innovation performance.In addition,through classified analysis,the incentive effects of government subsidies and tax incentives on the innovation performance of enterprises of different ownership types are further compared.Finally,the paper make some suggestions to stimulate the innovation performance of high-tech enterprises from the perspective of defining the principles of government subsidies,giving full play to the incentive role of government subsidies and tax preferences on innovation performance of high-tech enterprises,and encouraging innovation performance of high-tech enterprises of different ownership types.This paper believes that government subsidies can promote the innovation performance of high-tech enterprises.Among them,tax incentives have higher effect than government subsidies.In the process of classifying the high-tech enterprises of different ownership types,it is found that government subsidies have less effect on innovation performance of stateowned enterprises than non-state-owned enterprises.And the incentive effect of government subsidies and tax advantages on innovation performance of non-state-owned high-tech enterprises is better than that of state-owned high-tech enterprises.The significance of this study which studys the relationship between government subsidy and innovation performance of high-tech enterprises under the regulation of ownership can provide reference for subsidy policy makers and enterprise managers,and building a policy system and evaluation system that can promote enterprise innovation performance steadily in the long run.