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| A Study on the Government Subsidies, Property Rights and the Innovation Performance of Strategic Emerging Industries based on Microdata of NEEQ and Listed Companies |
| Gui Huangbao,Li Hang |
| (School of Management and Economics, North China University of Water Resources and Electric Power, Zhengzhou 450046, China) |
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Abstract Government subsidies and property rights are important factors affecting the development of strategic emerging industries. The impact of government subsidies on innovation performance has attracted widespread attention at home and abroad. This study scientifically evaluated the impact of government subsidies and property rights on the development performance of strategic emerging industries through a random effect model based on the panel data of Chinese strategic emerging industries NEEQ and listed companies of the Wind database. The results shed light on that;① government subsidies have a negative incentive effect on corporate performance;② government subsidies have a greater impact on the innovation performance of non-state-owned enterprises than on state-owned enterprises. Finally this study proposed to improve the government subsidy supervision system and create a rational and transparent development environment, optimize government subsidy policy and ensure subsidy programs are tailored to local conditions, with a view to provide theoretical reference and decision support to formulate more effective subsidy policies.
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Received: 20 March 2019
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