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Abstract This paper based the marketing enterprises of Growth Enterprise Market（GEM）sample in 2010-2015.It examined the subsidy effect of the government to support the scientific and technological innovation enterprises from the aspects of the business performance.Through the empirical analysis of panel data,the results show that the financial subsidy has a significant positive impact on the performance of the scientific and technological innovation enterprises,but the influence degree is limited and the lag effect is not significant.Moreover,for different industries listed on the GEM,financial subsidies have focused,the effect is different.While in the enterprise subsidies,the Government should pay attention to playing a guiding role in the market,as well as "antisubsidy" trap.
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| Fund:基金项目：天津市教委社会科学重大项目（2016JWZD17）；天津市科技发展战略研究计划项目（16ZLZDZF00050）；天津市哲学社会科学规划项目一般项目（TJYY13-045） |
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