Research On The Impact Of Government Subsidies On The Innovation Efficiency Of Strategic Emerging Industries

Strategic emerging industries,as an important part of China's innovation-driven strategy,have effectively promoted the optimization and upgrading of China's economic structure,greatly promoted China's economic transformation,and significantly enhanced China's economic strength.In addition,strategic emerging industries have more natural advantages than traditional industries.In the context of an international theme that perfectly fits current peace and development,compared with other industries,strategic emerging industries have a higher return on investment,and they have also implemented the development concept of green environmental protection.Therefore,the development of strategic emerging industries in fierce international competition has become an assessment target for the level of economic development of a nation.The level of corporate innovation efficiency has become a key strategy for the development of strategic emerging industries.The government has continuously increased its support for strategic emerging industrial enterprises,and gradually increased its support for strategic emerging industrial enterprises in all aspects of funding,technology,and personnel.Has the government subsidy achieved its intended support purpose? How should the government rationally adjust various subsidy policies and measures for strategic emerging industries? Based on this background,this article analyzes the impact between government subsidies and the efficiency of enterprise innovation based on the micro-level of enterprises,with a view to evaluating the government subsidy policies more objectively and comprehensively.The research of this article includes five parts.The first part is the introduction.It mainly introduces the research background and significance of this topic,summarizes the relevant literature,and explains the research direction and innovation of this article.The second part is the theoretical basis.The conceptual definitions of strategic emerging industries,government subsidies,and corporate innovation efficiency,and related theories of government subsidies that affect corporate innovation efficiency,including principal-agent theory,innovation activity externality theory,and Schumpeter innovation theory.The third part is the status quo analysis and research hypothesis.This paper expounds the current state of government subsidies,analyzes the mechanism by whichgovernment subsidies affect the innovation efficiency of enterprises,and then puts forward three hypotheses in this paper.The fourth part is empirical analysis.The research object of this article is the A-share listed companies of the Shenzhen and Shanghai Stock Exchanges of the strategic emerging industries.The analysis of the effects of dual status and corporate attributes as dummy variables on government subsidies and innovation efficiency.The fifth part is research conclusions,recommendations and limitations.The research conclusions of this paper are as follows:(1)Government subsidies of strategic emerging industries have a positive effect on the innovation efficiency of enterprises;(2)The combination of two positions will weaken the positive effect of government subsidies on the innovation efficiency of enterprises.(3)The attributes of state-owned enterprises will strengthen the positive influence between government subsidies and innovation performance of strategic emerging industries..?The innovation of this article is to start from the internal differences of enterprises and analyze the differences in innovation efficiency of strategic emerging industries brought by government subsidies based on the micro level of enterprises.Other literatures mostly analyze its impact from the perspective of industry and region.Especially in the study of this paper,the role of the two-in-one leadership structure on government subsidies influencing innovation efficiency is still blank,thus expanding the width of the existing literature.