Research On Internal And External Synergistic Governance And The Use Efficiency Of Government Technology Innovation Subsidies

The use efficiency of government technology innovation subsidies is related to the process of Chinese innovation-driven development strategy,which has aroused great concern from relevant government managers and theoretical scholars.The existing literature shows that internal and external governance factors are the key factors affecting the use efficiency of government technology innovation subsidies.However,most of the existing literature focuses on the direct governance impact of internal and extemal governance factors on the use efficiency of government technology innovation subsidies,while lacks the research on their synergetic governance impact.Based on the review of relevant literature on the evaluation of government technology innovation subsidies,governance factors and measurement,and the impact of internal and external governance factors on the use efficiency of government technology innovation subsidies,identify the internal and external governance factors that affect the use efficiency of government technology innovation subsidies according to the principal-agent theory,information asymmetry theory,rent-seeking theory,and other theories,this paper constructs theoretical analysis framework for internal and external synergetic governance of the use efficiency of government technology innovation subsidies from three perspectives of internal synergetic governance,external synergetic governance and internal and external synergetic governance by using the relevant theories of synergetic governance and project management.After that,the paper selected 1544 listed companies of high-tech enterprises in Shanghai and Shenzhen A shares from 2017 to 2020 as samples to do two aspects verification.On the one hand,using DEA-BCC model,a two-stage DEA-BCC comprehensive efficiency evaluation model is built to measure the use efficiency of government technology innovation subsidies from the two stages of"input to direct output(reflecting innovation capability)to indirect output(reflecting economic benefits)",and the use efficiency of government technology innovation subsidies is evaluated with the model built.On the other hand,the impact of internal synergetic governance,external synergetic governance and internal and external synergetic governance on the use efficiency of government technology innovation subsidies are empirically analyzed by using such statistical and measurement methods as cluster analysis,OLS regression analysis,synergistic effect test,regulatory effect test,grouping regression test,etc.The following conclusions are drawn from the above research:(1)The use efficiency of government technology innovation subsidies is not high as a whole,regional imbalance and significant differences among enterprises with different property rights;(2)The overall synergy between internal governance factors is not high,and the trend is good hey have a dual impact of direct governance and synergetic governance on the use efficiency of government technology innovation subsidies,and their impacts in state-owned enterprises are stronger;(3)The overall synergy between external governance factors is not high,and the trend is poor.hey have a dual impact of direct governance and synergetic governance on the use efficiency of government technology innovation subsidies,and their impacts in non-state-owned enterprises are stronger;(4)The overall synergy between internal and external governance system is not high,and the trend is a sharp decline.They has a synergistic governance impact on the use efficiency of government technology innovation subsidies,and their impact in non-state-owned enterprises is stronger;Finally,based on the research conclusion,the paper proposes that the government,enterprises and social intermediaries should take measures such as improving the governance factors level and strengthening the synergy construction of governance factors to improve the internal and external Synergistic Governance level of the use efficiency of government technology innovation subsidies.The theoretical analysis fiamework for internal and external synergetic governance proposed in the thesis expands the analysis perspective of factors affecting the use efficiency of government technology innovation subsidies.The synergy degree measurement model of governance factors and DEA-BCC comprehensive efficiency evaluation model of the use effiency of government technology innovation subsidies constructed can provide reference for relevant research.he synergistic governance impact analysis of "Close" and "Clean"Business-Government relationship and social audit on the use efficiency of government technology innovation subsidies supplements the literature on governance factors,and enriches the relevant research on the impact of macroeoonomic environment on micro enterprise behavior.