Effect of government R&D subsidies on firms' innovation in China

被引：34
作者：
Wu, Ruirui [1 ]
Liu, Zhiying [1 ]
Ma, Chaoliang [2 ]
Chen, Xiafei [3 ]
机构：
[1] Univ Sci & Technol China, Sch Management, Hefei, Anhui, Peoples R China
[2] China Dev Inst, Postdoctoral Workstn, Shenzhen, Guangdong, Peoples R China
[3] Zhejiang Univ, Sch Management, Hangzhou, Zhejiang, Peoples R China
来源：
ASIAN JOURNAL OF TECHNOLOGY INNOVATION | 2020年 / 28卷 / 01期
关键词：
China; transitional economy; R&D subsidies; PSM; continuous matching; EMPIRICAL-EVIDENCE; PROPENSITY SCORE; STATE OWNERSHIP; PERFORMANCE; SUPPORT; IMPACT; POLICY; MARKET; DETERMINANTS; INVESTMENT;
D O I：
10.1080/19761597.2019.1693901
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
This study investigates the effects of R&D subsidies on firms' innovation using panel data of Chinese listed firms from 2008 to 2013. Through propensity score matching method, we determine that recurrent, high-tech firms are more likely to receive public grants. Moreover, firms affiliated with higher-level governments and located in minimally marketised regions have a higher probability of receiving government financial support. China's state intervention to correct market failure related to firms' R&D activity is confirmed to be reasonable in an observable time given an instantaneous additionality effect. However, the stimulation effect of R&D subsidies on innovation outputs has not been verified. Results obtained through a continuous matching method show no optimal amount of R&D subsidies for firms in China, but a declining yet a positive marginal effect of treatment has been identified given an increase in the amount of R&D subsidies.
引用
收藏
页码：42 / 59
页数：18
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