Journal of Chaohu University ›› 2021, Vol. 23 ›› Issue (1): 48-56+64.doi: 10.12152/j.issn.1672-2868.2021.01.007

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The Impact of Government Subsidies on R&D Investment of Enterprises: Analysis from the Perspective of Institutional Environment

ZHANG Hong-mei,XING Mu:School of Business, Anhui University of Technology   

  1. School of Business, Anhui University of Technology, Maanshan Anhui 243032
  • Received:2020-11-30 Online:2021-01-25 Published:2021-04-02

Abstract: This paper selects China's A-share listed companies from 2013 to 2018 as research samples to empirically test the relationship between institutional environment, government subsidies and enterprise R&D investment, and further analyzes the impact of enterprise ownership on the above relationship. The empirical results are as follows: institutional environment and government subsidies are conducive to increasing enterprise R&D investment; the institutional environment strengthens the incentive effect of government subsidy on enterprise R&D investment; compared with state-owned enterprises, institutional environment and government subsidies have a stronger promoting effect on R&D input of non-state-owned enterprises.

Key words: institutional environment, government subsidies, investment in research and development, enterprise ownership

CLC Number: 

  • F272