生命周期视角下政府补助对企业研发投入的影响研究

发布时间：2018-04-16 17:57

本文选题：生命周期 + 政府补助　；参考：《辽宁大学》2017年硕士论文

【摘要】：在新常态经济形势下,我国各级政府部门为了推动实施创新驱动发展战略,广泛利用政府补助这一激励政策来调动企业进行研发投入的积极性。在管理实践中,如何让政府补助达到预期效果,使其得到最优化配置是各级政府部门亟待解决的问题。然而,对于政府补助与企业研发投入两者之间的关系学术界还未达成一致意见,较为流行的观点有“促进说”和“抑制论”。近年来,有不少学者从各自的视角出发对上述观点提出质疑,创新性的提出了非线性关系说。然而,不管是哪种学说多是停留在静态层面进行的分析,其结论具有一定的片面性。本文创新性地将企业生命周期理论引入到政府补助和企业研发投入关系的研究中,以考察政府补助对不同发展阶段企业研发投入的影响差异,从而为政府部门更好的实现其政策目标以及提高政府部门资金的使用效益提供有力的理论依据。鉴于此,本文首先在现有理论的基础上加入了企业生命周期理论来探究两者关系在不同发展阶段的差异性机理,由此作出对应假设。其次,本文以在沪深两市上市的A股制造业企业作为研究对象,选取时间段为2013-2015的数据作为研究基础,采用实证方法对提出的研究假设进行检验,然后采用根据不同标准分组对研究结果进行稳健性检验。最后,根据研究结论为更好实现政府部门的政策目标和提高政府部门的资金使用效益提出合理性建议。本文五个部分的具体内容有:第一部分,绪论。这一章节主要回答了为什么研究此课题,使用的研究方法有哪些,以及本研究存在哪些亮点等问题。第二部分,文献综述。这一部分的主要任务是回顾已有研究成果,找到可以改进和完善的地方,进而确定本研究的着重点。第三部分,理论分析。在现有理论的基础上加入了企业生命周期理论来探究两者关系在不同发展阶段的差异性机理,由此作出对应假设,这也将为后面研究提供相应根据。第四部分,实证研究设计。本文以在沪深两市上市的A股制造业企业作为研究对象,选取时间段为2013-2015的数据作为研究基础,采用实证方法对提出的研究假设进行检验,然后采用两种不同的方式进行稳健性检验。最终得出得出以下结论:(1)企业生命周期的不同阶段,企业研发投入存在显著差异,其中成长期最高,衰退期最低;政府补助在企业生命周期的不同阶段没有表现出明显的不同,即政府在对企业进行资助时并未考虑企业所处生命周期阶段的差异,而是将所有企业视为在同一发展阶段,这在一定程度上影响了政府补助的效果。(2)根据全样本回归结果我们可以看出企业研发投入与政府补助呈“倒U”型关系,在达到临界点之前,企业研发投入随政府补助的提高而提高,超过临界点之后,企业研发投入反而随政府补助的提高而降低,即政府补助对企业研发投入的影响呈现出区间效应。(3)将全样本分成成长期、成熟期和衰退期三个子样本,进一步分析发现,成长期企业研发投入与政府补助呈正向相关关系,即对于成长期企业而言,政府补助对企业研发投入表现出完全的挤入效应。(4)成熟期企业研发投入与政府补助呈现“倒U”型关系,即当政府补助处于一定的适度区间时,对企业研发投入有激励效应,超过这一适度区间,则会对企业研发投入产生挤出效应(5)当企业进入衰退期之后,政府补助将会对企业研发投入失去激励效应。最后,根据研究结论为更好实现政府部门的政策目标和提高政府部门的资金使用效益提出合理性建议。第五部分,研究结论和展望。这一部分首先阐述了研究结论,其次根据研究结论为更好实现政府部门的政策目标和提高政府部门的资金使用效益提出解决方法,最后反思了本研究的欠缺之处和以后可以进一步研究之处。本研究的亮点有两处:(1)引入新理论解释了政府补助对企业研发投入影响在不同发展阶段的差异;(2)改变了以往研究的静态视角,关注了企业发展的动态性,使研究结果更贴合实际情况。
[Abstract]:In the new normal economic situation, China's government departments at all levels in order to promote the implementation of innovation driven development strategy, extensive use of the enthusiasm of government subsidy incentives to mobilize the enterprise R & D investment. In management practice, how to make the government subsidies to achieve the desired results, the optimal allocation is the urgent problem of government departments at all levels however, for government subsidies and the relationship between the academic enterprise R & D investment has not yet reached a consensus, the more popular view of "promotion" and "repression". In recent years, many scholars from their own perspective to challenge this view, innovation proposed nonlinear relationship. However, no matter what kind of theory is to stay in the level of static analysis, the conclusion has certain one sidedness. In this paper, the theory of enterprise life cycle into the Study on the relationship between government subsidies and enterprise R & D investment in government subsidies in order to study the influence on the different stages of the enterprise R & D investment, thus for the government departments to better achieve their policy objectives and improve efficiency in the use of government funds to provide a strong theoretical basis. In view of this, this paper based on the existing theory into enterprise the life cycle theory to explore the relationship between the mechanism of difference in different stages of development, thus making the corresponding assumptions. Secondly, this paper made listed in Shanghai and Shenzhen two A shares of enterprises as the research object, select the time period for the 2013-2015 data as the research foundation, using empirical methods to test hypotheses, and then the according to different standard grouping results were robust test of the research. Finally, according to the conclusion of the study to better achieve the government policy goal And to improve the efficiency of government funds is proposed. The specific content of the five part of this paper is: the first part is introduction. This chapter mainly answers why to study this issue, what are the methods used in the study, as well as the existence of this study which highlights the problems. The second part is literature review. The main task of this part is the review of the existing research results, find can be improved and perfected, and then determine the focus of this study. The third part is theoretical analysis. On the basis of existing theory with enterprise life cycle theory to explore the relationship between the mechanism of difference in different stages of development, thus making the corresponding assumptions, this will also be back according to the research. The fourth part provides the corresponding empirical research. In this paper, design manufacturing listed in Shanghai and Shenzhen two A shares of enterprises as the research object, select the time interval of 2013-2015 The data as the research foundation, using empirical methods to test hypotheses, and then two different ways of using the robustness test. Finally draw the following conclusions: (1) the different stages of enterprise life cycle, corporate R & D investment significantly, the growth period was the highest, the lowest decline period; government subsidies in different stages the enterprise life cycle showed no obvious difference, that the government did not consider the difference of enterprise life cycle stage in support of enterprises, but all enterprises will be considered in the same stage of development, the influence of the government subsidy effect to a certain extent. (2) based on the full sample regression results we can that is inverted "U" type relationship between corporate R & D investment and government subsidies, before reaching the critical point, with government subsidies to improve the enterprise R & D investment increased, after exceeding the critical point, R & D investment enterprises but with government subsidies increased, namely government subsidies appear interval effect on corporate R & D investment. (3) the samples into the growth period, mature period and three sub samples, further analysis showed that the positive correlation between the growth of R & D investment and government subsidies for the growth period of enterprises, government subsidies to the enterprise R & D investment showed a complete crowd in effect. (4) mature R & D investment and government subsidies presents inverted "U" relationship, when government subsidies in a certain area between moderate, have incentive effect on corporate R & D investment, more than a moderate interval, then will have a crowding out effect on R & D investment (5) after the enterprise entered a recession, the government subsidies to the enterprise R & D investment will lose the incentive effect. Finally, according to the conclusion of the study for a better implementation of government departments The policy objectives and to improve the efficiency of government funds is proposed. In the fifth part, the research conclusion and prospect. This part first elaborated the research conclusion, then according to the conclusion of the study to better achieve the government policy objectives and improve the government funds to propose solutions for benefits, finally reflects on the research gaps and after further research. The highlight of this research has two parts: (1) introduce a new theory to explain the government subsidies to the enterprise R & D investment effect in the different stages of development; (2) to change the static perspective of previous research, attention to the dynamic development of the enterprise, make the research results more practical.

【学位授予单位】：辽宁大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：F406.7;F425;F812.45

【参考文献】