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| Government Support Fluctuation, Development Extent For The Technology Market and Enterprises R & D Investment |
| Wang Jinfu1,Li Jiahui1,Zhang Yingying1,Li Hao2 |
| (1.School of Management, Xi'an Polytechnic University, Xi'an 710048, China；2.Business School,Gansu University of Political Science and Law, Lanzhou 730000, China) |
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Abstract At present, China's government R&D funding to enterprises is rapidly increasing, and in the dynamic external environment, ,It has an important impact on the output of corporate R&D activities.but it is more important to pay attention to the factors and effects of R&D funding fluctuations on enterprises' R&D activities. This paper reexamines enterprise R&D investment from the perspective of government funding fluctuation, and on the basis of applying the panel data cluster analysis method to classify the degree of technology market development in each province and city in China from 2011-2018, and taking industrial enterprises above the scale as the sample, we conducted a comprehensive analysis of government funding fluctuation, the degree of technology market development and enterprise R&D investment. The results found that: 1. the fluctuation of government funding has a negative effect on enterprise R&D investment; 2.the degree of technology market development has a gradually weakening positive effect on enterprise R&D; 3.the degree of technology market development can significantly regulate the negative effect of fluctuation of government funding on enterprise R&D investment,and finally reach the positive effect. Finally, some policy suggestions are made on how provinces and cities can reasonably formulate government funding programs and accelerate the development of technology markets.
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Received: 04 November 2020
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