Research On The Impact Of Financial Support On The Performance Of Civil-Military Integration Technological Innovation

The integration of military and civilian plays an important supporting role in the country’s innovation and development system,and the government as the builder of the national innovation system has an important influence on the technological innovation and development of military-civilian integration,most notably the government’s financial support.The role of financial subsidies and tax incentives is the two most commonly used fiscal policies of the government to encourage military and civilian integration of technological innovation activities.However,there are still some problems in the implementation of fiscal policy,which may affect the output of technological innovations of military-civilian integration.Therefore,it is of great practical significance to explore the impact of financial support on the innovation performance of military-civilian integration technology.It has certain reference to the government’s policy formulation and the innovation and development of military-civilian integration.Firstly,the financial support is divided into financial subsidies and tax credits,and the technological innovation performance is divided into innovative technology innovation and innovation economic performance.On this basis,the mechanism of financial support affecting the innovation performance of military-civilian integration technology is analyzed,and the financial support-innovation is constructed.The theoretical model of input-technical innovation performance;secondly,the panel data of 276 military-civilian integrated listed companies from 2008 to 2017 were selected to construct multiple linear regression model,mediation effect model and hysteresis effect model,and empirical analysis of financialsupport for military-civilian integration The impact of the current period and the impact of the lag;Finally,propose countermeasures to improve the policy.The following conclusions are drawn:(1)Financial subsidies can promote the innovative technological performance of the current period,but inhibit the innovative economic performance,and have a crowding-out effect on innovation input,while the financial subsidies have no influence in the lag period.(2)Tax credits have a positive impact on innovation investment,and have promoted innovative technological performance and innovative economic performance in the current and lag periods;(3)Innovative input has a certain mediating effect on the current financial subsidies and tax credits,but it only has a full mediating effect on tax credits during the lag period.According to the research conclusions,the government departments proposed tax credits as the main fiscal policy to stimulate the technological innovation of military-civilian integration enterprises,and adopted financial subsidies as supplementary financial policies and formulated financial supervision mechanisms.It is proposed to build an information database for military-civilian integration enterprises,strengthen technical information exchange between enterprises and government,and pay attention to the training and introduction of high-tech talents.The innovations of the thesis are as follows: On one hand,the military-civilian integration enterprise is taken as the research object,and the empirical analysis of the direct subsidies of government finances and tax incentives also affects the impact of military-civilian integration technology innovation.On the other hand,considering the timeliness of technological innovation,the lag effect of financial support affecting technological innovation performance is explored.