政府研发补贴如何影响企业生存能力？对倒 U 型关系的研究

IF 7.4 2区经济学 Q1 BUSINESS, FINANCE

Finance Research Letters Pub Date : 2024-10-23 DOI:10.1016/j.frl.2024.106235

Yajie Han , Liyan Han , Chengkun Liu , Qisong Wang

{"title":"政府研发补贴如何影响企业生存能力？对倒 U 型关系的研究","authors":"Yajie Han , Liyan Han , Chengkun Liu , Qisong Wang","doi":"10.1016/j.frl.2024.106235","DOIUrl":null,"url":null,"abstract":"<div><div>Based on the theory of New Structural Economics, this study investigates the non-linear relationship between government R&D subsidies (RDS) and enterprises’ viability (VIA) in China, utilizing data from A-share listed advanced manufacturing enterprises. The findings reveal an inverted U-shaped relationship, where VIA initially increases and subsequently decreases as RDS intensifies. Furthermore, we examine the impact of technological convergence between the digital and real economy industries (TCG) on this relationship and find that TCG strengthens the curvilinear relationship. This study provides valuable insights for formulating advanced manufacturing policies that address structural needs, thereby fostering high-quality development of the real economy.</div></div>","PeriodicalId":12167,"journal":{"name":"Finance Research Letters","volume":"70 ","pages":"Article 106235"},"PeriodicalIF":7.4000,"publicationDate":"2024-10-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":"{\"title\":\"How does government R&D subsidies affect enterprises’ viability? An investigation on inverted U-shaped relationship\",\"authors\":\"Yajie Han , Liyan Han , Chengkun Liu , Qisong Wang\",\"doi\":\"10.1016/j.frl.2024.106235\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"<div><div>Based on the theory of New Structural Economics, this study investigates the non-linear relationship between government R&D subsidies (RDS) and enterprises’ viability (VIA) in China, utilizing data from A-share listed advanced manufacturing enterprises. The findings reveal an inverted U-shaped relationship, where VIA initially increases and subsequently decreases as RDS intensifies. Furthermore, we examine the impact of technological convergence between the digital and real economy industries (TCG) on this relationship and find that TCG strengthens the curvilinear relationship. This study provides valuable insights for formulating advanced manufacturing policies that address structural needs, thereby fostering high-quality development of the real economy.</div></div>\",\"PeriodicalId\":12167,\"journal\":{\"name\":\"Finance Research Letters\",\"volume\":\"70 \",\"pages\":\"Article 106235\"},\"PeriodicalIF\":7.4000,\"publicationDate\":\"2024-10-23\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"0\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"Finance Research Letters\",\"FirstCategoryId\":\"96\",\"ListUrlMain\":\"https://www.sciencedirect.com/science/article/pii/S1544612324012649\",\"RegionNum\":2,\"RegionCategory\":\"经济学\",\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"Q1\",\"JCRName\":\"BUSINESS, FINANCE\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"Finance Research Letters","FirstCategoryId":"96","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S1544612324012649","RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"BUSINESS, FINANCE","Score":null,"Total":0}

引用次数: 0

摘要

基于新结构经济学的理论，本研究利用 A 股上市先进制造业企业的数据，研究了中国政府研发补贴（RDS）与企业生存能力（VIA）之间的非线性关系。研究结果表明，两者之间存在倒 U 型关系，即随着研发补贴的增加，企业生存能力（VIA）最初会增加，随后会降低。此外，我们还研究了数字经济产业与实体经济产业之间的技术融合（TCG）对这一关系的影响，发现 TCG 强化了曲线关系。这项研究为制定满足结构性需求的先进制造业政策，从而促进实体经济的高质量发展提供了有价值的见解。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

查看原文本刊更多论文

How does government R&D subsidies affect enterprises’ viability? An investigation on inverted U-shaped relationship

Based on the theory of New Structural Economics, this study investigates the non-linear relationship between government R&D subsidies (RDS) and enterprises’ viability (VIA) in China, utilizing data from A-share listed advanced manufacturing enterprises. The findings reveal an inverted U-shaped relationship, where VIA initially increases and subsequently decreases as RDS intensifies. Furthermore, we examine the impact of technological convergence between the digital and real economy industries (TCG) on this relationship and find that TCG strengthens the curvilinear relationship. This study provides valuable insights for formulating advanced manufacturing policies that address structural needs, thereby fostering high-quality development of the real economy.

求助全文

通过发布文献求助，成功后即可免费获取论文全文。去求助

来源期刊

Finance Research Letters BUSINESS, FINANCE-

CiteScore

11.10

自引率

14.40%

发文量

863

期刊介绍： Finance Research Letters welcomes submissions across all areas of finance, aiming for rapid publication of significant new findings. The journal particularly encourages papers that provide insight into the replicability of established results, examine the cross-national applicability of previous findings, challenge existing methodologies, or demonstrate methodological contingencies. Papers are invited in the following areas: Actuarial studies Alternative investments Asset Pricing Bankruptcy and liquidation Banks and other Depository Institutions Behavioral and experimental finance Bibliometric and Scientometric studies of finance Capital budgeting and corporate investment Capital markets and accounting Capital structure and payout policy Commodities Contagion, crises and interdependence Corporate governance Credit and fixed income markets and instruments Derivatives Emerging markets Energy Finance and Energy Markets Financial Econometrics Financial History Financial intermediation and money markets Financial markets and marketplaces Financial Mathematics and Econophysics Financial Regulation and Law Forecasting Frontier market studies International Finance Market efficiency, event studies Mergers, acquisitions and the market for corporate control Micro Finance Institutions Microstructure Non-bank Financial Institutions Personal Finance Portfolio choice and investing Real estate finance and investing Risk SME, Family and Entrepreneurial Finance