An Empirical Study On The Impact Of Government Subsidies On Corporate Performance

Strategic emerging industries are driven by innovation,based on advanced science and technology,with a global drive and a major leading role in the economic,which has huge develop potential.Besides,it can meet needs in the high efficient use of resources and high technology.The development of strategic emerging industries at home and abroad is becoming more and more high,china has also introduced some policies to push it's development,including establish fund for it and some local subsidies policy as the local characteristics.With the increasing of government subsidies in the strategic emerging industries,the research on the effect of strategic emerging industry government subsidies on corporate achievements has meaning.This paper takes 2011-2015 strategic research on the effect of government grants on the performance of innovation and operating performance of the company through the establishment of panel data.Based on the effect of government grants on the corporate performance,this paper divided government subsidies into financial allocation,financial discount and tax return,in-depth study the impact of strategic emerging industry listed companies three different government subsidy mode on the innovation effect difference.This paper obtain the below results: Strategic emerging industries listed companies government subsidies can significantly improve innovation performance and operating performance of the company.The financial allocation can significantly improve innovation performance and operating performance of the company;Financial discount can improve innovation achievements and operating achievements of the company obviously,and played a minor role in the effect of government subsidy;Tax return is not related to innovation performance and operating performance of the company.The government subsidy effect also needs to be further optimized.This paper proposed policy suggests on how to encourage strategic emerging industries develop research and development activities through government subsidies to improve innovation achievements.China should further increase the government grants of strategic emerging industries,continued to optimize the way of government grants;Secondly,china should establish a reasonable innovation project evaluation criteria and strengthen the government grants tracking monitoring efforts in the follow-up.Finally,our government should not be limited to common government grants as financial allocation,financial discount and tax rebates and so on,the government should adhere to bring forth new ideas of subsidies,continue to increase government support.