Industrial Policy,Internal Control And Enterprise Innovation Performance

The report of the Nineteenth National Congress of the Communist Party of China clearly stated that we will strive to build my country into an innovative country by2020.Technological innovation is a breakthrough in deepening the reform of the supply-side structure and industrial upgrading,and plays an important role in the sustained and healthy growth of the national economy and the occupation of an internationally dominant position.As the main body of innovation,enterprises should continuously innovate independently to increase their market share,and then enhance their international competitiveness.Due to the characteristics of high technological innovation risk,large capital demand,externality,etc.,companies face difficulties in financing R&D funds in the early stage and easy to imitate technical results in the later stage,which seriously weakens the enthusiasm for innovation.When the market itself adjusts to a wall,government intervention can make up for market deficiencies,and the government ' s use of special resources for industrial policies can partially solve the difficulty of corporate R&D funding,reduce the cost of R&D for innovative entities,and share innovation risks for enterprises,thereby inspiring corporate innovation momentum Active guidance.However,in the specific implementation process of industrial policies,due to differences in their own production and operation management and internal supervision,different enterprise entities with preferential resources have different perceptions and actual implementation of industrial policies,resulting in the same policy controlling the size Under the condition of internal factors such as growth and shareholding structure,different implementation levels of internal systems of enterprises have different effects on the implementation of industrial policies to stimulate technological innovation.Based on this,this paper first sorts out the relevant literature,analyzes the internal mechanism between variables based on relevant theories to propose the research hypothesis ofthis paper,and uses two research methods,normative and empirical,to select the representative manufacturing enterprise of China's main innovation force as the research object.The data of listed companies in the four years of 2017 is a research sample.It examines the impact of two industrial policies,which are government subsidies and tax incentives,which play a role in resources on enterprise technological innovation,and compares the effects of the two.It further integrates internal control into the research framework and analyzes different companies The impact of the implementation level of internal control on industrial policy and innovation performance.The regression results show that the current or late industrial policy that acts as a resource mechanism significantly increases the amount of R&D capital input and patent output of the enterprise,improves the level of enterprise innovation performance,and promotes tax incentives better than government subsidies;secondly,internal control can be effective Promote corporate R&D success.The product term of industrial policy and internal control is further added to the model.The study found that internal control plays a positive regulatory role in industrial policy promoting corporate innovation,indicating that the incentive effect of industrial policy on innovation performance is more obvious in companies with higher levels of internal control implementation..The research conclusions of this paper suggest that the government should form an industrial policy system with tax incentives as the mainstay and government subsidies as the supplements,use more tax preferential policies to optimize the market competition environment,drive innovation subjects to pursue benefits through fair competition,and help improve the efficiency of innovation resource allocation Secondly,enterprises are strictly required to improve their internal governance level,and while advocating strengthening internal control construction,they strictly supervise the actual implementation of internal control of enterprises.