| Science and technology are the primary forces to development of economic and social progress.its the driving force behind the world's three major industrial revolutions.competition among countries became fiercer after the financial crisis.In order to seize the opportunity of a new round of development,many countries launched a series of technological development plans,such as America's "2015 innovationstrategy",and Germany's "industry 4.0".Chinaattaches more importance to the innovative development of economy under the background of the new normal of economic that economy growth speed change from high-speed growth to medium-high growth,and has put forward the "innovation-driven development strategy" and "made in China 2025" strategies.Relying on technological innovation to promote economic transformation and upgrading,enhance industrial competitiveness and China's comprehensive strength.As a basic industry in the development of electronic information technology industry is the core industry of China's strategic emerging industry and high-tech industry.It is characterized by high technological and strong industrial relevance.Therefore,the state attached great importance to the innovation of the industry,and give more subsidy for R&D.But the recent "ZTE incident" revealed China's "lack of core and soul" in high-tech fields.People are deeply concerned about the strength in the Electronic information technology industry.Does the national R&D subsidy play an effective role in promoting enterprise innovation?Based on a systematic review of domestic and foreign research on government subsidies and The theory of innovation,this paper analyzed the development status and problems of the industry.Five hypotheses are put forward based on theoretical analysis.Through empirical analysis,the hypotheses are respectively verified,and got influence of the government on enterprise innovation in this industry.so policy recommendations are put forward rely on that.In the theoretical analysis part,R&Dendogenous models,the S curve model of technological progres and the public goods theory of R&D are used to analysisthe effect of technological innovation on economic growth,the relationship between r&d input and innovation and the effect of subsidy.it is concluded that the government R&D subsidy plays an important role in enterprise innovation and economic growth.annual government subsidies in this industry are increasing,the growth rate in recent years has been significantly improved.More than 80%enterprises receive subsidies.Therefore,the innovation capacity of this industry has been significantly improved.But there are also many problems and challenges.The empirical analysis is mainly divided into two parts.The first is the impact of government R&D subsidies on enterprise R&D input;the second is the impact of government subsidies on enterprise innovation output.This paper selects 195 listed companies in the industry and collect and sort relevant data from 2012 to 2016 to form balanced panel data.First,establishing the multiple linear regression model of government subsidy on enterprise R&D investment.using stata to carries out the regression of fixed effect model.It is concluded from the results that government subsidies play a promoting role in enterprises' R&D investment,and government subsidies play a role in driving.Meanwhile,this promoting role is stronger in state-owned enterprises.All of these verified some research hypotheses.Systematic GMM method was used to analyze again,the Regression results were not much different with the first once,which verified the robustness of the results.Secondly,the C-D function of government subsidy and enterprise innovation output is established to investigate the effect of government innovation subsidy on enterprise patents that has been authorized.By using the random effect panel Tobit regression analysis,it is concluded that the government innovation subsidy can promote the patents.the increasing of government subsidy can increase the number of patents authorized.The government subsidy can promote the innovation output.According to the results,the promotion effect is more obvious in private enterprises.In order to analyze the different influence of government subsidies on different patent types,the patents are divided into three types:invention,utility model and appearance design.The influences of government subsidies on three different patent types are investigated.It can be concluded that the government subsidy plays a stronger role in promoting the invention patent,which contains high technology.The promotion effect decreases with the decreasing of technology content.The result of tobit regression analysis is robust.Five hypotheses were verified by two parts of empirical analysis.Through theoretical analysis and empirical analysis,the paper concludes that government R&D subsidy can promote enterprise R&D investment and innovation output.In terms of research and development investment,it plays a significant role in promoting state-owned enterprises,but in terms of innovation output,it plays a significant role in promoting non-state-owned enterprises.The invention patent can be promoted more than other types.Policy suggestions are put forward accordingly.First,the government should continue to increase subsidies to the industry,to correct market failures,leverage the investmentofenterprise and innovation output.Second,strengthen subsidies to non-state-owned enterprises.Non-state-owned enterprises are facing with much stronger capital constraints.But it is the most active innovation subjects,with higher innovation efficiency.Therefore,the subsidy should be strengthened to drive the innovation vitality of the industry.Third,improve the efficiency of state-owned enterprises.Although government subsidies drive more capital input of state-owned enterprises,they do not play a pretty role in the output of innovation as non-state-owned enterprises do. |
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