Research On The Impact Of Government Subsidies On The Performance Of High-tech Enterprises

As the leading force of enterprise technology innovation,high-tech industry is the mainstay in the strategy of building an innovative country.In order to promote the steady development of high-tech enterprises,the Party and the state have taken a series of support measures.As a tool for the state to regulate the macro market economy and lead the healthy operation of industries,government subsidies are one of the important means of support.However,what are the benefits of high government subsidies and how do they affect the specific aspects of enterprise performance? These issues deserve further discussion.This paper defines relevant concepts such as government subsidies,high-tech enterprises and enterprise performance by combing relevant domestic and foreign literature,and takes externality theory,soft budget constraint theory and rent-seeking theory as the theoretical basis of this paper.Firstly,DEA is used to explore the efficiency of government subsidies in high-tech industries,and it is concluded that different enterprises have different effects on the use of government subsidies.Therefore,it is not enough to conduct empirical research only from the industry level.It is necessary to select typical enterprises for specific case analysis;Secondly,taking Dahua Technology as the research object,the case study method is used to explain the basic situation of Dahua Technology and the general situation of government subsidies,and deeply analyze the impact path of government subsidies on Dahua’s enterprise performance;Finally,the comparative analysis method is used to specifically study the changes in financial performance of Dahua Technology before and after deducting government subsidies,as well as the impact of government subsidies on non-financial performance such as enterprise innovation ability,investment behavior and social responsibility.The research shows that: first,the government subsidies have no significant impact on the financial performance of Dahua Technology;Second,the government subsidy has improved the innovation performance of Dahua Technology,but its role is limited;Third,government subsidies are conducive to the determination of Dahua’s investment behavior;Fourth,government subsidies have improved the enthusiasm of Dahua Technology in fulfilling its social responsibilities.Based on the above research conclusions,in order to improve the utilization efficiency of government subsidies in China,this paper proposes:The government should improve the disclosure criteria of subsidies,strengthen the supervision of subsidies,and improve the standards of subsidies;Enterprises should improve internal control and establish a scientific subsidy performance evaluation mechanism,and strengthen relevant information disclosure to ensure transparent use of government subsidies.