An Empirical Study Of Financial Subsid On Innovation And Operational Performance Of New Energy Automobile Enterprises

As a substitute for traditional fuel vehicles,new energy vehicles have great advantages in reducing emissions,protecting the environment,and conserving resources.To promote the development of the new energy automobile industry is equivalent to protecting our “green mountains and green mountains”.At present,China’s new energy automobile industry is developing slowly,and enterprises lack core competitiveness.The most important reason is that the industry has a short development time,insufficient innovation capability,and lack of key technologies.It is difficult to replace traditional fuel vehicles and quickly occupy the market.In order to improve this situation,the government uses the financial subsidy policy to foster the independent innovation capability of new energy auto companies and support the development of enterprises.Therefore,this paper takes the 2011-2017 China New Energy Vehicle Listed Enterprise as a research sample,theoretically analyzes and empirically tests the impact of the financial subsidy policy on the innovation and business performance of new energy automobile enterprises,and draws the following main conclusions: First,the financial subsidy The innovation of new energy automobile enterprises has a promoting effect,but with the increase of subsidy intensity,it has a restraining effect on the innovation of new energy automobile enterprises.Therefore,the financial subsidies and the innovation of new energy automobile enterprises show an inverted U-shaped relationship.Second,innovation in new energy vehicle companies can promote business performance.Third,financial subsidies have a positive impact on business performance by promoting innovation in new energy vehicle companies.Based on the above conclusions,this paper proposes the following policy recommendations: First,it is necessary to formulate reasonable financial subsidy standards,guarantee appropriate and appropriate subsidies,and play a role in promoting financial subsidies for the new energy automobile industry.The second is to improve the financial subsidy supervision system,and to develop a comprehensive supervision and review mechanism for the investment and use efficiency of subsidy funds,so that the fiscal funds can exert effective results.Third,the government has formulated appropriate fiscal policies to guide and help the new energy automobile industry to establish a good innovation environment,and ultimately to form a development model and system with independent innovation capabilities within the industry.