政府干预与金融支持对企业自主创新投入的影响研究——基于657家战略性新兴产业上市公司数据分析  

The Influence of Government Intervention and Financial Support on Enterprises’Investment in Independent Innovation——Analysis Based on Data of 657 Listed Companies in Strategic Emerging Industries

作　　者：周泽炯[1] 陆苗苗 ZHOU Zejiong;LU Miao、miao(School of Economics, Anhui University of Finance and Economics, Bengbu 233030, Anhui, China)

机构地区：[1]安徽财经大学经济学院,安徽蚌埠233030

出　　处：《安徽工业大学学报（社会科学版）》2021年第5期11-15,共5页Journal of Anhui University of Technology：Social Sciences

基　　金：安徽高校人文社会科学研究项目:政府干预对战略性新兴产业自主创新的影响研究(SK2020A0011)。

摘　　要：基于657家战略性新兴产业上市公司数据,运用固定效应模型对政府干预与金融支持对战略性新兴产业企业自主创新投入的影响进行实证研究,得到如下结论:政府补贴、税收优惠等政府干预手段都促进了企业自主创新投入,但政府补贴的效果更明显;加入金融支持这一调节变量之后,政府干预对企业自主创新投入仍然起着正向促进作用,但促进作用减弱;银行短期借款和外商直接投资等金融支持手段激励了企业自主创新投入,而银行长期借款却阻碍了企业自主创新投入。Based on the data of 657 listed companies in strategic emerging industries,an empirical study was conducted on the effects of government intervention and financial support on enterprises’independent innovation investment in strategic emerging industries using fixed-effects model,and the following conclusions were obtained:government subsidies and tax preferences and other government interventions promote enterprises’independent innovation investment,but the effect of government subsidies is more obvious.After adding the moderating variable of financial support,the government intervention still plays a positive role in promoting enterprises’independent innovation investment,but the promotion effect is weakened.Financial support instruments such as short-term bank borrowing and foreign direct investment stimulate enterprises’independent innovation investment,while long-term bank borrowing hinders enterprises’independent innovation investment.

关 键 词：战略性新兴产业 自主创新投入 政府干预 金融支持 

分 类 号：F832[经济管理—金融学] F273.1