| Innovation is not only an inexhaustible driving force for the sustainable development of the national economy,but also the first strategic choice for building an innovative country.Therefore,the country pays more and more attention to the innovation of enterprises.With the deepening of science and technology in the information age,strategic emerging industries have become a new battlefield for developed countries and major developing countries to seize the opportunities and seize the opportunities.For China,it is particularly important to cultivate and develop strategic emerging industries under the strategic background of a strong country of science and technology,which is not only related to the prosperity and survival of each enterprise,but also closely related to the development of national modernization.We all know that capital is necessary for the innovation of enterprises,and the innovation of enterprises can not be separated from the support of the government.In addition,innovation has the characteristics of publicity and externality,which makes the enterprises may have market failure in the process of innovation.At this time,it is particularly important for the government to formulate relevant fiscal and tax policies to encourage the innovation of enterprises.In this rapidly changing business environment,enterprises not only need to face the capital demand in innovation activities,but also need to pay attention to the important role of R&D personnel in innovation activities.Whether the government’s support makes the enterprise’s innovation achievement reach the expectation and whether the enterprise really makes use of the government’s support to carry on the innovation,and whether the government’s support can improve the enterprise’s innovation performance through the R&D investment intensity? These problems need further proof.Therefore,based on the data of Listed Companies in strategic emerging industries in2013-2017,this paper studies the relationship between government support and innovation performance of enterprises,and the intermediary role of R&D investment intensity in this relationship,and divides R&D investment intensity into two dimensions:R&D capital investment and R&D personnel investment to explore its intermediary role in the main effect,enriching the previous research,and being able to be more comprehensive Considering the influencing factors of innovation performance.This research mainly has the following parts.First,based on the existing literature,the relevant variables of this article are explained,and systematically reviews the existingliterature in the research and development input intensity,government subsidies,tax preferences and enterprise innovation performance,and reviews.Then based on the externality theory,signal transmission theory and literature review,this part discusses the relationship between variables,and puts forward the research hypothesis of this paper,and constructs the theoretical model of this paper according to the hypothesis.Thirdly,this paper introduces the sample source and data selection process,constructs the research design model,and then uses a series of benchmark regression analysis to test the impact of government subsidies,tax preferences on the innovation performance of enterprises,as well as the intermediary role of R&D personnel investment and R&D capital investment on the two kinds of impact relationships.The empirical research shows that:(1)government subsidies and tax preferences have a positive impact on the innovation performance of enterprises;(2)compared with government subsidies,tax preferences have a stronger impact on the innovation performance of enterprises;(3)the positive role of government subsidies and tax preferences on the innovation performance of enterprises is partly realized through the intensity of R&D investment,that is,the intensity of R&D investment plays a part of intermediary between the two Role(4)finally,based on the conclusion of the study,this paper puts forward some management and policy implications,aiming at promoting the improvement of fiscal and tax policies and pointing out the direction of the future development of enterprises.Based on the existing research,this paper divides the intensity of R&D investment into R& D capital investment and R&D personnel to explore its intermediary role in government support and enterprise innovation performance,and supplements the factors that affect the mechanism between government support and enterprise innovation performance.,And taking strategic emerging industries as research samples,provides a path for the strategic emerging industries to improve the level of technological innovation and innovation output,and at the same time helps companies rationally allocate R&D personnel and R&D funds and improve the source of R&D funds,So as to improve their own innovation ability. |
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