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| Are Government Subsidies Conducive to Improving the Innovation Efficiency of Enterprises |
| Ren Yuewen |
| (School of Economics, Sichuan University, Chengdu 610065,China) |
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Abstract This paper selects the data of China's A-share listed companies in Shanghai and Shenzhen from 2015 to 2017,and builds a panel threshold model on the basis of investigating the impact of government subsidies on the innovation efficiency of enterprises, to explore the threshold effect of government subsidies on the innovation efficiency of enterprises, and makes a grouping test according to the enterprise property right, industry and regional heterogeneity.The empirical study finds that government subsidies have a significant inhibitory effect on the innovation efficiency of enterprises; there is a significant double threshold effect on the impact of government subsidies on the innovation efficiency of enterprises, and the effect is the best when the government subsidy is between 0 and 0.000 5; based on the heterogeneity grouping test of enterprise property right, industry and region, it is found that government subsidies still have an inhibitory effect on enterprise innovation efficiency, but the threshold effect is quite different.
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Received: 24 May 2019
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