The Impact Of Strategic Emerging Industry Policies On Business Performance

As an indirect means for the government to regulate and intervene in the market economy,the industrial policy is widely applicable in China’s economic transformation and industrial restructuring.The dispute about the effectiveness of industrial policy is a focus issue in a long time.Especially in the current stage of China’s vigorous development of strategic emerging industries,the forward-looking,external and high-risk issues faced by strategic emerging industries.It is determined that just relying on market mechanisms to solve the difficulties in development is so hard.And it requires the promotion and support of industrial policies.Enterprises are the micro body of market economic activities.They play an important role in promoting industrial restructuring and structural upgrading.The effect of government industrial policies must be reflected in the micro-behavior of enterprises.Therefore,conducting research on the impact of strategic emerging industrial policies on business performance can help examine the effectiveness of industrial policies in boosting economic growth and industrial upgrading from a micro perspective.This paper mainly studies the impact of strategic emerging industry policies on business performance.In the research,the first step is to complete the preliminary work of the topic selection,review,and so on.Then the statistical analysis method is used to study the development of China’s strategic emerging industries and the performance of business.In the statistical and empirical research on strategic emerging industries,the quantification of industrial policies and the selection of samples are common problems faced by most researchers.Therefore,based on the synthesis of existing research methods,this paper collects and organizes various manual collection and collation,and the relevant content of the strategic emerging industries in China’s central government and provincial governments,and the sample data of the enterprises determined by the method of screening and matching them one by one.The statistical results show that the strategic emerging industry policy has an obviously higher effect of supporting on the company’s business performance than the non-financial enterprises,and the effect has obvious inter-industrial and inter-regional differences.The third is empirical test.The results show that the overall strategic emerging industrial policy has not promoted the improvement of business performance.However,it can improve the industrial performance of those industrial policies,which shows the realization of the effect of industrial policy.The strength of the policy is related.Based on this,the paper divided the industrial policy into two types:key support and general support.The paper also further examines the difference between the impact of policy supporting intensity on business performance,and finds out that the impact of industrial policy supporting intensity on business performance is significantly different.It found out that the impact of industrial policy supporting intensity on business performance is significantly different from making further examines on the difference about the impact of policy supporting intensity on business performance.It indicates that it’s necessary for the government to adopt a key supporting approach in nurturing and supporting the development of strategic emerging industries.Moreover,the study also shows that the impact of industrial policy support on the performance of state-owned enterprises is not significant.But it can promote the performance of non-state-owned enterprises.The impact on foreign-funded enterprises is obviously stronger than private enterprises,in addition to industrial policy supporting,the impact of the effect varies among regions and industries.Finally,the paper explores further on how to improve and optimize strategic emerging industry policies.It is proposed to adhere to the characteristics of time,place and market,and adhere to the characteristics and development of differentiated development thinking and model;more actively promote the transformation of government roles,and continue to build up a more equitable enterprise innovation and entrepreneurial environment;and make rational choice of industry division of labor.Taking a progressive approach to decomposing industry development goals and formulating support plans in a progressive manner is an important means to better play the role of strategic emerging industry policies in improving business performance.