Research On The Relationship Between Government Subsidies,Technological Innovation And Enterprise Performance Of Private Enterprises

Private enterprises in our country are a special enterprise form in the process of transition from planned economy system to market economy system,which has an important position in terms of gross national product,economic contribution and innovation achievements.The survival and development of private enterprises depend on technological innovation,but investment in technological innovation often becomes a burden for many enterprises,and the government can carry out macro-control through subsidies.With China's economic development entering a new normal,the government encourages private enterprises to strengthen their investment in innovation in the form of various subsidies.Based on the background of "mass entrepreneurship and mass innovation" in our country at this stage,this paper takes private enterprises as research samples,analyzes the moderating effect of marketization on enterprise performance on the basis of studying the influence of government subsidies and technological innovation investment on enterprise performance respectively,then analyzes the mediating effect of technological innovation investment between government subsidies and enterprise performance,and further analyzes the influence of technological innovation investment and government subsidies on private enterprise performance in different industries.This paper studies the relationship among technological innovation,government subsidies and enterprise performance of private enterprises.In the selection of research methods,mainly using literature analysis and empirical research.First of all,through literature review and theoretical analysis to build a conceptual model,descriptive statistics and correlation analysis of the selected enterprise samples,then regression analysis of the whole sample and industry groups,and finally take the method of replacing dependent variables for robustness test.After testing the theoretical framework model and eight research hypotheses,the following conclusions are drawn:(1)technological innovation input of private enterprises has a positive impact on enterprise performance;(2)government subsidies have a positive effect on private enterprises' technological innovation investment;(3)government subsidies have a positive effect on private enterprises' performance;(4)the degree of marketization is that technological innovation investment and government subsidies have a positive impact on enterprises' performance The impact of industrial performance has a positive regulatory role;(5)the investment in technological innovation of private enterprises plays a part of intermediary role between government subsidies and corporate performance;(6)the investment in technological innovation of private enterprises and government subsidies have a lag effect on corporate performance,and the degree of impact varies with different industries.In the theoretical sense,this paper takes private enterprises as the research object,from the sample as a whole to the industry grouping;it is rare for this kind of enterprises to integrate technology innovation,government subsidies and enterprise performance according to different industries.This paper enriches the relevant theories of technology innovation and government subsidies through reasonable screening and strict empirical analysis of private enterprises.In the practical sense,the results of this study,on the one hand,are helpful for the government to formulate reasonable subsidy policies to encourage the technological innovation of private enterprises;on the other hand,it is helpful for the managers of private enterprises to better understand the impact of government subsidies and technological innovation investment on the performance of enterprises,and provide reference for the scientific and reasonable technological innovation investment of private enterprises.