Research On The Relationship Between R&D Subsidies,Internal Control And Innovation Investment

In recent years,China has surpassed the United States to become the world's largest manufacturing industry.The added value of China's manufacturing economy has contributed more than 30%to the growth of GDP.It has become a pillar industry and its driving role in economic growth cannot be underestimated.But its independent innovation capability is relatively insufficient.Compared with the world's innovation power countries,there is a certain gap.In order to comprehensively improve the level of independent innovation in manufacturing and complete the task of upgrading and upgrading the manufacturing industry to the high-end,"Made in China 2025" proposes to build China into a century-old goal of manufacturing a strong country,and the key to promoting the transformation of manufacturing from low-end to high-end is technology.The main manifestation of technological innovation is research and experimental development activities(R&D),and the key performers of innovation activities are enterprises.Innovation activities are inconsistent with the company's goal of maximizing revenue.Because of the obvious positive externalities and high risks of innovation activities,contrary to the goal of enterprises to maximize revenue,companies that assume the responsibility of the main performers are reluctant to invest too much in innovation activities.According to international experience,most countries in the world,especially those with strong innovation capabilities,are supported by financial innovation activities,and the initial support methods are mainly focused on direct subsidies.The survey selected for this study is the relevant statistics of China's A-share manufacturing listed companies from 2012 to 2017.Manual collection and collation of R&D subsidies in government subsidies were carried out.Then by combining theoretical analysis with empirical analysis,this paper analyzes the relationship between government R&D subsidies and corporate innovation inputs and the regulatory effects.Through analysis and research,the conclusions drawn from this paper are as follows:There is a significant positive correlation between government R&D subsidies and corporate innovation inputs.Moreover,there is a significant positive correlation between the quality of internal control of manufacturing enterprises and the investment of enterprise innovation.Finally,this paper finds that internal control has a regulatory effect on the relationship between government R&D subsidies and corporate innovation inputs.The innovation of this research is to achieve an effective expansion of relevant research between government R&D subsidies and corporate innovation inputs.Most of the research results in the past are based on a limited level of discussion on the relationship between the two,and the research on internal control that plays a regulatory role between the two is limited.Based on past research,this research has effectively expanded the research on government R&D subsidies and enterprise innovation investment.