Can Government Subsidies Promote the TFP of Enterprises? The Mediating Effect of R&D Decisions

IF 1.7 4区管理学 Q3 MANAGEMENT

Science Technology and Society Pub Date : 2021-08-05 DOI:10.1177/09717218211030760

Zheng Qi, Siying Yang

引用次数: 13

Abstract

This article empirically analyses the effect of government subsidies on total factor productivity (TFP) based on the data of listed manufacturing companies in China. The results indicate that government subsidies increase total productivity directly as well as indirectly by increasing R&D investment. The positive effect of government subsidies on TFP is higher in non-state-owned enterprises (non-SOEs) than in state-owned enterprises (SOEs), higher in central SOEs than local SOEs and higher in enterprises with lower rather than higher TFP. Furthermore, the mediating effects of R&D decisions also differ among different enterprises. Therefore, the government should implement differentiated subsidy policies to promote enterprises’ TFP.

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政府补贴能提高企业全要素生产率吗?研发决策的中介效应

本文基于中国制造业上市公司的数据，实证分析了政府补贴对全要素生产率的影响。结果表明，政府补贴通过增加R&D投入，直接或间接地提高了总生产率。政府补贴对TFP的正向影响在非国有企业中高于国有企业，在中央国有企业中高于地方国有企业，在TFP较低的企业中高于较高的企业。此外，研发决策的中介效应在不同企业之间也存在差异。因此，政府应实施差别化补贴政策，促进企业全要素生产率的提高。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Science Technology and Society MANAGEMENT-

CiteScore

3.80

自引率

4.80%

发文量

期刊介绍： Science, Technology and Society is an international journal devoted to the study of science and technology in social context. It focuses on the way in which advances in science and technology influence society and vice versa. It is a peer-reviewed journal that takes an interdisciplinary perspective, encouraging analyses whose approaches are drawn from a variety of disciplines such as history, sociology, philosophy, economics, political science and international relations, science policy involving innovation, foresight studies involving science and technology, technology management, environmental studies, energy studies and gender studies. The journal consciously endeavors to combine scholarly perspectives relevant to academic research and policy issues relating to development. Besides research articles the journal encourages research-based country reports, commentaries and book reviews.