How does government R&D subsidies affect enterprises’ viability? An investigation on inverted U-shaped relationship

IF 7.4 2区经济学 Q1 BUSINESS, FINANCE Finance Research Letters Pub Date : 2024-10-23 DOI:10.1016/j.frl.2024.106235

Yajie Han , Liyan Han , Chengkun Liu , Qisong Wang

引用次数: 0

Abstract

Based on the theory of New Structural Economics, this study investigates the non-linear relationship between government R&D subsidies (RDS) and enterprises’ viability (VIA) in China, utilizing data from A-share listed advanced manufacturing enterprises. The findings reveal an inverted U-shaped relationship, where VIA initially increases and subsequently decreases as RDS intensifies. Furthermore, we examine the impact of technological convergence between the digital and real economy industries (TCG) on this relationship and find that TCG strengthens the curvilinear relationship. This study provides valuable insights for formulating advanced manufacturing policies that address structural needs, thereby fostering high-quality development of the real economy.

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政府研发补贴如何影响企业生存能力？对倒 U 型关系的研究

基于新结构经济学的理论，本研究利用 A 股上市先进制造业企业的数据，研究了中国政府研发补贴（RDS）与企业生存能力（VIA）之间的非线性关系。研究结果表明，两者之间存在倒 U 型关系，即随着研发补贴的增加，企业生存能力（VIA）最初会增加，随后会降低。此外，我们还研究了数字经济产业与实体经济产业之间的技术融合（TCG）对这一关系的影响，发现 TCG 强化了曲线关系。这项研究为制定满足结构性需求的先进制造业政策，从而促进实体经济的高质量发展提供了有价值的见解。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Finance Research Letters BUSINESS, FINANCE-

CiteScore

11.10

自引率

14.40%

发文量

863

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