政府补贴下企业研发投资的两阶段决策研究
发布时间：2018-11-04 08:12
【摘要】：随着资源紧缺、环境状况日益恶劣,中国经济正面临从依赖于投资和人口红利的粗放型经济增长模式向依赖于技术创新和生产率拉动的集约型经济增长模式转变。在中国经济转型升级的过程中,企业作为创新的微观主体,如何促进企业的技术创新活动、提高研发投资成为了提高企业产品质量和市场竞争力的关键。在创新战略的引导下,政府补贴对于企业的研发活动具有何种影响是本文讨论的核心问题。通过对现有文献的梳理发现关于企业研发决策的理论研究较多,而关于政府补贴和研发决策之间的关系缺乏相关的实证研究,并且忽略了研发决策包含两个阶段。在现实中,很多企业并没有研发活动；只有有研发的企业需要考虑研发投资多少的问题。因此,企业的研发决策包括两个阶段,即“是否研发”和“研发投资多少”。 本文基于Gonzalez模型进行扩展,得到了基于政府补贴的企业研发投资两阶段决策模型,对政府补贴影响企业研发投资的机理进行分析,发现政府补贴对企业的两阶段研发决策均具有正向作用。然后,基于中国工业企业2007年数据,并采用Heckman两步法处理样本的选择性偏误问题,实证检验结果表明政府补贴对于企业的两阶段研发决策均具有显著的促进作用。采用工具变量法对内生性进行处理,政府补贴对于企业研发的两阶段决策仍然具有显著的促进作用。关于所有制性质对企业研发决策的影响,在研发决策的第一阶段,国有企业性质比外资企业和私营企业所有制更愿意开展研发活动；在研发决策的第二阶段,所有制性质对于研发投入的影响为负或者并不显著。其他控制变量对企业研发两阶段的影响存在差异,说明企业研发的两个阶段影响因素存在不同。按照国有企业、外资企业和私营企业的企业所有制划分,三个子样本的实证研究结果也验证了政府补贴对于企业两阶段研发的积极作用。通过对各个变量偏效应的估计系数进行比较,发现政府补贴对于外资企业和私营企业的研发激励效应明显大于对国有企业的研发激励。
[Abstract]:With the shortage of resources and the worsening of environmental conditions, China's economy is facing a shift from an extensive economic growth model that relies on investment and demographic dividends to an intensive economic growth model based on technological innovation and productivity. In the process of economic transformation and upgrading in China, how to promote technological innovation and increase R & D investment has become the key to improve the product quality and market competitiveness. Under the guidance of innovation strategy, how does government subsidy affect R & D activities is the core issue discussed in this paper. By combing the existing literature, we find that there are more theoretical studies on R & D decisions of enterprises, but there is no empirical research on the relationship between government subsidies and R & D decisions, and it ignores that R & D decision-making includes two stages. In reality, many companies do not have R & D activities; only R & D firms need to consider how much R & D they invest. Therefore, R & D decision includes two stages: whether R D and R D investment. Based on the expansion of Gonzalez model, a two-stage decision-making model of enterprise R & D investment based on government subsidy is obtained, and the mechanism of government subsidy influencing enterprise R & D investment is analyzed. It is found that government subsidies play a positive role in two-stage R & D decisions. Then, based on the data of Chinese industrial enterprises in 2007, and using Heckman two-step method to deal with the selective bias of samples, the empirical results show that government subsidies can significantly promote the two-stage R & D decision of enterprises. Using the tool variable method to deal with the endogenesis, the government subsidy still plays a significant role in promoting the two-stage decision-making of enterprise's R & D. In the first stage of R & D decision, state-owned enterprises are more willing to carry out R & D activities than foreign enterprises and private enterprises. In the second stage of R & D decision, the effect of ownership on R D input is negative or not significant. The influence of other control variables on the two stages of enterprise R & D is different, which indicates that the influencing factors of the two stages of R & D are different. According to the division of enterprise ownership among state-owned enterprises, foreign-funded enterprises and private enterprises, the empirical results of three sub-samples also verify the positive effect of government subsidies on the two-stage R & D of enterprises. By comparing the estimated coefficients of each variable bias effect, it is found that the R & D incentive effect of government subsidies to foreign and private enterprises is obviously greater than that of state-owned enterprises.
【学位授予单位】：大连理工大学
【学位级别】：硕士
【学位授予年份】：2014
【分类号】：F406.7;F425;F812.45
[Abstract]:With the shortage of resources and the worsening of environmental conditions, China's economy is facing a shift from an extensive economic growth model that relies on investment and demographic dividends to an intensive economic growth model based on technological innovation and productivity. In the process of economic transformation and upgrading in China, how to promote technological innovation and increase R & D investment has become the key to improve the product quality and market competitiveness. Under the guidance of innovation strategy, how does government subsidy affect R & D activities is the core issue discussed in this paper. By combing the existing literature, we find that there are more theoretical studies on R & D decisions of enterprises, but there is no empirical research on the relationship between government subsidies and R & D decisions, and it ignores that R & D decision-making includes two stages. In reality, many companies do not have R & D activities; only R & D firms need to consider how much R & D they invest. Therefore, R & D decision includes two stages: whether R D and R D investment. Based on the expansion of Gonzalez model, a two-stage decision-making model of enterprise R & D investment based on government subsidy is obtained, and the mechanism of government subsidy influencing enterprise R & D investment is analyzed. It is found that government subsidies play a positive role in two-stage R & D decisions. Then, based on the data of Chinese industrial enterprises in 2007, and using Heckman two-step method to deal with the selective bias of samples, the empirical results show that government subsidies can significantly promote the two-stage R & D decision of enterprises. Using the tool variable method to deal with the endogenesis, the government subsidy still plays a significant role in promoting the two-stage decision-making of enterprise's R & D. In the first stage of R & D decision, state-owned enterprises are more willing to carry out R & D activities than foreign enterprises and private enterprises. In the second stage of R & D decision, the effect of ownership on R D input is negative or not significant. The influence of other control variables on the two stages of enterprise R & D is different, which indicates that the influencing factors of the two stages of R & D are different. According to the division of enterprise ownership among state-owned enterprises, foreign-funded enterprises and private enterprises, the empirical results of three sub-samples also verify the positive effect of government subsidies on the two-stage R & D of enterprises. By comparing the estimated coefficients of each variable bias effect, it is found that the R & D incentive effect of government subsidies to foreign and private enterprises is obviously greater than that of state-owned enterprises.
【学位授予单位】：大连理工大学
【学位级别】：硕士
【学位授予年份】：2014
【分类号】：F406.7;F425;F812.45
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