Research On The Impact Of Government R&D Subsidies On Technological Innovation Of Large And Medium-sized Industrial Enterprises

At present,innovation,especially technological innovation,has become an important factor leading the economic transformation and development of our country,and has gradually attracted the attention of all parties in society.At present,the technological innovation of Chinese enterprises is faced with the problems of low R&D investment and low level of innovation output.Because of the externality characteristic of enterprise technological innovation,the problem of market failure often needs to be compensated by the government's R&D subsidy to the enterprise.However,the government's R&D subsidy has certain subjectivity in the choice of subsidy object,which can easily lead to the problem of government and enterprise rent-seeking,thus the government R&D subsidy is inefficient.And then our government subsidizes R&D business What is the status quo?Which enterprises are the subsidies mainly allocated to?Is it promoting or inhibiting?What is the mechanism?At present,under the condition that the technological innovation ability of Chinese enterprises is insufficient as a whole,it is of great significance to study the influence of government R&D subsidy on the technological innovation of enterprises from the perspective of government to enhance the innovation competitiveness of Chinese enterprises.A large number of literature points out that government R&D subsidies have a significant impact on the level of technological innovation of enterprises,but whether it is positive or negative,the academic community has not reached a general consensus,whether the government should continue to ensure the R&D research and development of enterprises;at the same time,the current research for large and medium-sized industrial enterprises is relatively small.The industrial system of our country still takes industry as the main body at present,and the large and medium-sized industrial enterprises play a leading role in the industrial industry,which is the main bearer of technological innovation.Given the above shortcomings,this paper takes large and medium-sized industrial enterprises as the starting point to further study the technological innovation of enterprises by government R&D subsidies Finally,the paper puts forward the hypothesis that the long-term effect of government R&D subsidy on technological innovation of large and medium-sized industrial enterprises is positive,and the effect of subsidy is negatively related to the size of enterprises,the proportion of state-owned property rights and the level of technology.Finally,the paper makes an empirical test of the above research hypothesis by using the panel data of China Science and Technology Statistics Yearbook and China Statistical Yearbook 2008-2017.Writing significance,definition of relevant concepts and expected innovation points.Chapter two is a literature review,which combs the technological innovation and government R&of enterprises The third chapter is an overview of the current technological innovation level of large and medium-sized industrial enterprises in China and the actual situation of government R&D subsidies;the fourth chapter is the mechanism analysis of the influence of government R&D subsidies on the technological innovation of large and medium-sized industrial enterprises,and puts forward relevant research hypotheses;the fifth chapter is the empirical test of government R&D subsidies on large and medium-sized industrial enterprises,and analyzes the test results.The main conclusions of this paper:first,the long-term impact of government R&D subsidies on technological innovation of large and medium-sized industrial enterprises shows a significant positive effect,in the economic downward pressure increased,local debt problems exist,the government R&D subsidies for technological innovation of enterprises are still necessary;second,government subsidies have heterogeneity for technological innovation effects of large and medium-sized industrial enterprises.As a result,the higher the size of enterprises,the smaller the demand for government funds and the lower the innovation effect of government funding;the higher the proportion of state-owned property rights,the lower the innovation effect of government R&D subsidies;and the lower the technological level of enterprises High,competitive strength,the higher the innovation effect of government capital subsidy;third,compared with government R&D subsidy funds,social capital support is more conducive to improving the level of technological innovation of large and medium-sized industrial enterprises.It shows that the innovation and upgrading of manufacturing enterprises not only requires the government to provide sufficient science and technology subsidy funds,but also stimulates the enthusiasm of social capital represented by financial institutions to support enterprise financing.For this,the policy recommendations of this paper are as follows:first,the government should appropriately increase the subsidy funds R&D by large and medium-sized industrial enterprises.Large and medium-sized industrial enterprises enhance their technological innovation ability,which is conducive to better participation in market competition and leading China's economic transformation and upgrading.Therefore,we should continue to attach importance to the development of large and medium-sized industrial enterprises in our country in the high level of strategy,and provide sufficient scientific and technological subsidy funds to help innovation and upgrading;second,improve the distribution structure of government R&D funds in the main body of R&D.Give priority to raising the level of government R&D subsidies for high-tech enterprises,and moderately reduce the subsidy intensity of overcapacity enterprises to help them repair and develop themselves;moderately reduce Low levels of subsidies for state-owned enterprises and large enterprises,and speeding up the reform of state-owned enterprises to reduce the excessive dependence of state-owned enterprises on government subsidies;in addition,to strengthen innovation subsidies innovation level;third,actively guide the flow of social capital,ease the financing difficulties and expensive financing problems in the process of enterprise innovation.We should improve the scientific and technological financial system conducive to technological innovation of enterprises,guide financial institutions to increase their support for enterprise financing,innovate financing instruments,and broaden the financing channels of enterprises in order to reduce the actual financing costs of enterprises.