经济政策不确定性、政府补贴与企业创新  

Economic Policy Uncertainty, Government Subsidies and Enterprise Innovation

作　　者：曲丽娜 刘钧霆[2] Qu Lina;Liu Junting(School of Economics,Shandong Normal University,Jinan 250358,China;School of Economics,Liaoning University,Shenyang 110036,China)

机构地区：[1]山东师范大学经济学院,济南250358 [2]辽宁大学经济学院,沈阳110036

出　　处：《统计与决策》2022年第6期169-174,共6页Statistics & Decision

基　　金：国家社会科学基金一般项目(19BJL089);教育部人文社会科学重点研究基地重大项目(14JJD790021);辽宁省社会科学规划基金重点项目(L17AJY008)。

摘　　要：文章以2012—2019年沪深A股战略性新兴产业上市公司为样本,研究经济政策不确定性、政府补贴及二者的协同作用对战略性新兴产业创新的影响。研究发现:中国经济政策不确定性增强不利于企业创新,而政府补贴能够有效调节这一不利影响。此外,基于企业和产业异质性视角进一步研究发现:经济政策不确定性增强时,政府补贴能有效缓解不确定性对非国有企业创新的负面影响,对新一代信息技术、生物、新能源、新材料以及新能源汽车产业创新的促进作用增强。This paper takes listed companies in Shanghai and Shenzhen A-share strategic emerging industries from 2012 to2019 as samples to study the impact of economic policy uncertainty, government subsidies and their synergies on innovation in strategic emerging industries. The research finds that the increasing of China’s economic policy uncertainty is not conducive to enterprise innovation, and that the government subsidies can effectively moderate the adverse effect. In addition, the further study from the perspective of firm and industry heterogeneity finds that when economic policy uncertainty increases, government subsidies can effectively alleviate the negative impact of uncertainty on innovation of non-state-owned enterprises, and promote innovation of new-generation information technology, biology, new energy, new materials and new energy vehicles.

关 键 词：经济政策不确定性 政府补贴 企业创新 战略性新兴产业 

分 类 号：F124.3[经济管理—世界经济] F812.45