| Whether innovation-driven industrial structure upgrade can be achieved depends on the technological innovation of a country,and R&D investment is an important indicator to measure a country's technological innovation level.During the period of revitalizing the old northeast industrial base,it is necessary for Liaoning Province to achieve the innovation-driven development strategy by promoting technological innovation.However,what kind of policies should be initiated to stimulate enterprises' R&D investment? This is a major issue currently facing Liaoning Province.High-tech enterprises are the main body of technological innovation in Liaoning Province.Compared with the incentives and supervision of public finance for the technological innovation of individuals and the government,public finance is more efficient for the incentives and supervision of enterprise technological innovation.Consequently,It is important to study the guiding effect of public finance in Liaoning Province on the input of hightech enterprises.In order to verify the guiding effect of Liaoning Province public finance on R&D investment of high-tech enterprises,many methodologies are applied to the study.The data of this paper are from 39 industries in Liaoning province,which include agriculture,textile industry,pharmaceutical manufacturing,computer,ecological protection and environmental management and so on,during 10 years from 2009 to 2018.It is worthy to mentions that the selected industries are under 2011 edition of the national economic industry classification.In addition,a literature review about R&D investment was completed to analyze the mechanism and present situation of public finance guiding R&D investment of high-tech enterprises.Moreover,the guiding effect of Liaoning Provincial Public Finance on R&D investment of high-tech enterprises is tested by the establishment of a multivariate linear panel regression model,and the reliability of the results are tested by the robust regression analysis.Finally,relevant suggestions are made.The conclusions are found out from the research and demonstrated as follow: firstly,the direct government subsidy policy of Liaoning Province can promote the R&D investment of high-tech enterprises,but the guiding effect is low;secondly,the preferential tax policy of Liaoning Province can also promote the R&D investment of enterprises,and the preferential tax policy's guiding effect is still low,but it is higher than the guiding effect of direct government subsidy policy;thirdly,high-tech enterprise assets have negative impact on R&D investment;finally,high-tech enterprise debt have positive impact on R&D investment.In the end,this article throws out the following suggestions: firstly,improve the "direct subsidy policy";secondly,optimize the "tax preferential policy";thirdly,reduce the asset-liability ratio of high-tech enterprises;finally,improve the R&D personnel in high-tech enterprises incentives. |
PDF Full Text Request