Study On Strategic Emerging Industry Policies On Corporate Performance Impact

China is in a critical period of economic transformation and development and adjustment of industrial structure.Industrial policy has always been an important means of interfering with industrial development and making up for market failures.Currently,the effectiveness of industrial policies is the focus of intense debate in academia.Especially at this stage,China is vigorously supporting the development of strategic emerging industries.In addition,strategic emerging industries are faced with high risks and uncertainties,which determines that in the development process,in addition to relying on market mechanism adjustment The government needs to use industrial policies to provide reasonable guidance and support.Enterprises are the ultimate carrier of microeconomic development and an important driving force for industrial upgrading and economic transformation.Ultimately,the final effect of industrial policy is reflected in its impact on micro-enterprises.Therefore,this paper studies the impact of strategic emerging industrial policies on corporate performance,which helps to assess the effectiveness of industrial policies from a micro level.In this study,using the data of listed companies from 2007 to 2018,a difference-in-differences(DID)was established to empirically analyze the effect of strategic emerging industrial policies on corporate performance.In the model,companies that belong to strategic emerging industries are the experimental group,and the rest of the samples that are not strategic emerging industries are the control group.September 2010 is the impact point of the policy time.Day as the point of time impact).The empirical research results of this paper show that: from the perspective of the overall sample,strategic emerging industrial policies have a significant effect on improving corporate performance.There are also differences in the region where theenterprise is located and differences in the ownership of the enterprise that will affect the effect of strategic emerging industrial policies.From the perspective of the region where the enterprise is located,the role of strategic emerging industrial policies in the eastern region is the most obvious;from the perspective of the nature of enterprise ownership,strategic emerging industrial policies have significantly improved the performance of private enterprises,but not the state-owned enterprises.Significantly.At the end of this article,I explored some suggestions for the improvement and optimization of strategic emerging industrial policies in the future.They are: one is to firmly play the role of the industrial policy without change;the second is to strengthen the pertinence of the industrial policy,giving priority to the regions with obvious effects of the industrial policy and driving other regions;the third is to strengthen the precision of the industrial policy and give priority to encouraging the industrial policy Private enterprises with obvious effects;Fourth,establish a policy effect evaluation mechanism.