金融科技与公共研发补贴政策的实施绩效  

Fintech and implementation performance of public R&D subsidy policies

作　　者：王红建 过江明 邢斐[2] WANG Hong-jian;GUO Jiang-ming;XING Fei(School of Finance,Jiangxi University of Finance and Economics,Nanchang 330013,China;School of Economics,Huazhong University of Science and Technology,Wuhan 430074,China)

机构地区：[1]江西财经大学金融学院,江西南昌330013 [2]华中科技大学经济学院,湖北武汉430074

出　　处：《科学学研究》2024年第6期1188-1199,共12页Studies in Science of Science

基　　金：国家自然科学基金资助项目(71962020,72072079);江西财经大学财经数据科学重点实验室重点项目。

摘　　要：如何提高单位研发补贴对企业研发投资的撬动作用是公共研发政策治理的难题。本文从金融科技的视角出发,使用面板数据模型检验金融科技是否可以通过公共治理机制提升公共研发补贴政策的实施绩效。研究发现:金融科技能通过提升企业信息透明度、抑制研发操纵倾向、规范补贴资金的使用等显著促进研发补贴对于企业研发投入的撬动作用。本文研究证实金融科技的发展有助于放大财政政策实施效果,为金融科技助力研发补贴等公共资源的治理提供了新思路。How to improve the leveraging effect of unit R&D subsidies on enterprise R&D investment is a difficult problem in public R&D policy governance.Due to the existence of information asymmetry,the"incentive effect"and"catering effect"coexist in the process of implementing R&D subsidy policy Reviewing the literature,some researches have made some useful explorations on this prob-lem from the perspective of enterprise internal governance and external supervision.However,the existing research has not discussed this issue from the perspective of financial institutions playing the role of supervision and governance.As an important external body su-pervising corporate behaviors,financial institutions have stronger analytical ability than ordinary investors.In the context of fintech,the information collection and processing ability of financial institutions has been greatly improved.Based on this background,we use the panel data model to test whether fintech can improve the implementation performance of public R&D subsidy policies through public governance mechanisms.It is found that fintech can significantly promote the leveraging effect of R&D subsidies on R&D investment by enhancing corporate information transparency,curbing the tendency of R&D manipulation,and regulating the use of subsidy funds.Through the research on the effects of fintech and R&D subsidy policy,this paper confirms that the development of fintech can help to amplify the effect of fiscal policy implementation,and provides a new idea for the use of fintech to help to improve the allocation effi-ciency of public resources such as R&D subsidies.According to the research results,we propose that,first,in the future,financial institutions such as banks should be vigorously promoted to develop fintech.By strengthening the information collection and processing ability of financial institutions,the supervisory and governance role of financial institutions on real enterprises should be enhanced,the market operation order should be standardized,and the promoting

关 键 词：金融科技 公共研发政策 研发补贴 

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