{"title":"Government R&D subsidies, bank credit and the innovation efficiency of high-tech enterprises","authors":"Xiuping Jiang , Chunxia Jiang","doi":"10.1016/j.iref.2024.103565","DOIUrl":null,"url":null,"abstract":"<div><p>This study focuses on Chinese high-tech listed enterprises spanning from 2010 to 2022, aiming to explore the primary impact of government R&D subsidies on their innovation efficiency. Our findings indicate that these subsidies effectively enhance the innovation efficiency of high-tech enterprises. Furthermore, bank credit serves as a positive intermediary between government subsidies and improved innovation. Notably, R&D subsidies tend to have a greater impact on enhancing innovation efficiency in private enterprises compared to state-owned enterprises.</p></div>","PeriodicalId":14444,"journal":{"name":"International Review of Economics & Finance","volume":"96 ","pages":"Article 103565"},"PeriodicalIF":5.6000,"publicationDate":"2024-08-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"International Review of Economics & Finance","FirstCategoryId":"96","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S1059056024005574","RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"BUSINESS, FINANCE","Score":null,"Total":0}
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Abstract
This study focuses on Chinese high-tech listed enterprises spanning from 2010 to 2022, aiming to explore the primary impact of government R&D subsidies on their innovation efficiency. Our findings indicate that these subsidies effectively enhance the innovation efficiency of high-tech enterprises. Furthermore, bank credit serves as a positive intermediary between government subsidies and improved innovation. Notably, R&D subsidies tend to have a greater impact on enhancing innovation efficiency in private enterprises compared to state-owned enterprises.
期刊介绍：
The International Review of Economics & Finance (IREF) is a scholarly journal devoted to the publication of high quality theoretical and empirical articles in all areas of international economics, macroeconomics and financial economics. Contributions that facilitate the communications between the real and the financial sectors of the economy are of particular interest.
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