摘要
为了研究政府补贴与高新技术上市公司创新绩效之间的关系,文中引入门槛面板回归模型对高新技术上市公司2012—2015年的数据进行实证检验,结果表明:政府补贴对企业创新绩效的影响不是线性的,存在着双重门槛效应,门槛回归模型比多元线性回归模型更贴合实际情况。双门槛回归模型将政府补贴强度划分为3个区间,分别是政府补贴强度小于12.35%的低补贴强度区间、政府补贴强度介于12.35%和25.74%之间的中补贴强度区间和政府补贴强度大于25.74%的高补贴强度区间。当政府补贴强度小于12.35%时,政府补贴抑制创新绩效;当政府补贴强度介于[12.35%,25.74%]时,补贴对创新绩效的抑制作用减弱;当政府补贴强度大于25.74%时,补贴对企业创新绩效的激励作用最明显,该区间为样本企业的最佳政府补贴区间。
Using high-tech panel data of listed companies from 2012 to 2015 , this paper introduced the thregression model to test empirically the effects of government subsidies on firm innovation performance. The results are as fol-lowing ： There exist double threshold effects of government subsidies on firm innovation performance rather than the linear effect and the threshold regression model is more suitable to the actual situation than the multiple linear regression model.Double threshold regression model divides the subsidies intensity into three intervals, which are low subsidies intensity zoneless than 12. .5%,medium subsidies intensity zone between 12. .5% and 25. 74% and high subsidies intensity zonethan 25.74%. When government subsidies intensity is less than 12. . 5 %, government subsidies have a negative effect onthe performance of innovation. When government subsidies intensity is between 12. .5% and 25. 74% ,h e negative effecweakened. When the subsidy intensity is bigger than 25.74% ,he incentive effect of subsidy on innomost obvious,which is the optimal interval of government subsidies intensity.
出处
《技术与创新管理》
2018年第1期92-96,共5页
Technology and Innovation Management
基金
国家自然科学基金资助项目"基于全球价值链的中国制造业转型升级机理及实现路径研究"(71073103)
国家自然科学基金资助项目"基于持续技术创新能力的中国制造产业并购协同机理及实现路径研究"(71371124)
关键词
政府补贴
创新绩效
门槛效应
government subsidy
innovation performance
threshold effects
