Original scientific paper
https://doi.org/10.1080/1331677X.2021.1893204
Government R&D subsidies and enterprise R&D activities: theory and evidence
Wan-Shu Wu
Kai Zhao
Abstract
Under the control of multi-dimensional factors such as industry
and enterprise characteristics, this paper examines the impact
of government R&D subsidies on enterprise R&D activities,
both theoretically and empirically. Theoretically, on the basis of
Symeonidis model, this paper establishes a three-stage dynamic
game model by introducing the government R&D subsidy, in
order to expand the existing theory. Taking the data of the listed
enterprises in China as the research sample, the Spatial Quantile
Autoregressive Regression method, which has the ability to examine both spatial effect and quantile effect, is used to test the theoretical results. It is found that R&D subsidies play a significant
positive role in stimulating the R&D activities of enterprises, and
the incentive effect of subsidies is more obvious with the increase
of R&D investment and R&D efficiency. Furthermore, the spillover
effect can improve R&D efficiency, and this effect will be gradually
strengthened with the increase of quantile.
Keywords
R&D efficiency; R&D subsidy; spatial quantile autoregressive regression; incentive effect
Hrčak ID:
301837
URI
Publication date:
31.3.2023.
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