政府补贴与金融支持如何影响创新效率?——来自中国战略性新兴产业上市公司的经验证据  

How Do Government Subsidies and Financial Support Influence Innovation Efficiency?--Empirical Evidence from Listed Companies of Strategic Emerging Industries in China

作　　者：闫俊周[1] 齐念念 童超[3] YAN Jun-zhou;QI Nian-nian;TONG Chao(Business School,Zhengzhou Universityr of Aeronoutics.Zhengzhou 450015;School of Management.Shanghai Unirersity,Shanghai 200444;School of Statisties,Shanti University of Finance and Economics,Taiyuan 030006)

机构地区：[1]郑州航空工业管理学院商学院,郑州450015 [2]上海大学管理学院,上海200444 [3]山西财经大学统计学院,太原030006

出　　处：《软科学》2020年第12期41-46,共6页Soft Science

基　　金：国家社会科学基金一般项目(16BJY089);河南省哲学社会科学规划项目(2020BJJ062);河南省软科学研究项目(202400410063);河南省高校科技创新人才支持计划(人文社科类)(2021-CX-008)

摘　　要：基于2012~2017年战略性新兴产业上市公司数据,对政府补贴、金融支持如何影响创新效率进行了研究。结果表明:政府补贴有利于战略性新兴产业企业创新效率提升,金融支持不利于其创新效率提升,政府补贴有利于其获得更多的金融支持,但金融支持在政府补贴与创新效率间表现为遮掩效应。对于不同产权性质、不同生命周期阶段的企业,政府补贴、金融支持对创新效率的影响均存在差异。Based on the data of strategic emerging industries listed companies in 2012~2017, this paper studies how government subsidies and financial support influence innovation efficiency. The results show that: government subsidies are conducive to the improvement of innovation efficiency of strategic emerging industries companies. Financial support can not promote the increase of innovation efficiency, and government subsidies are conducive to obtain more financial support. But financial support between government subsidies and innovation efficiency is shown as masking effect.The impact of government subsidies and financial support on innovation efficiency is different among companies with different ownership and different life cycle phases.

关 键 词：创新效率 政府补贴 金融支持 遮掩效应 

分 类 号：F276.44[经济管理—企业管理] F273.1[经济管理—国民经济]