Research On The Relationship Between Government Subsidy,Technological Innovation Ability And Enterprise Performance In New Energy Automobile Industry

Today in the 21 st century,China,as a world economic power,not only develops the real economy,but also pays more and more attention to the development of environmental protection.During the eleventh Five-Year Plan period,environmental protection has been placed at an important national strategic level by the Party and the people’s government.At this time,low-carbon economy will be the only way for us to achieve long-term sustainable development,and new energy vehicles meet the requirements of China to alleviate environmental pollution and resource shortage,which will be the inevitable direction for the future development of the automotive field.In 2001,under the leadership of the Party and the people’s government,our country launched a special project on electric vehicles.Since then,after nearly 20 years of rapid development,the new energy vehicle industry has undergone a world-shaking change from scratch.In May 2015,with the special approval of Premier Li Keqiang,the Strategic document made in China 2025 was issued under the joint efforts of The Chinese Academy of Sciences and the Chinese Academy of Engineering.Since then,China has officially put the development of new-energy automobile industry on the strategic level of a strong country,making it the key direction of future economic development.so to speak,for the development of new energy automobile enterprises,in which government subsidies has played a very important role,not only through direct financial subsidies to support the economic development of the company and the technical progress,especially in the capital market,government subsidies to companies in the development of good signals to investors and customers,thus to enhance the role of enterprise value in the short term.At the same time,some enterprises cheat and compensate the government,which to some extent leads to the misallocation of resources and weakens the economic effect of government subsidies.This situation is not only bad for the technological progress of enterprises,but also hinders the healthy development of enterprises.In this paper,based on this research background,and through the government subsidies,technology innovation ability and enterprise performance between the two relations after the paper summarizes the related literature,based on a series of theoretical analysis,on the basis of the interaction between the three and influence mechanism is analyzed,and the 2009 to 2018,new energy automobile enterprises as the research object,by using the method of empirical test research for new energy automotive industry listed companies,the government subsidies influence onenterprise performance,government subsidies influence on enterprise technology innovation ability,And the role of technological innovation ability of enterprises in the relationship between government subsidy and enterprise performance.After empirical research,this paper finds that although in the short term,government subsidies can increase the profits and benefits of new energy vehicle enterprises’ statements,in the long run,their corporate performance will not increase with the increase,but the relationship between the two shows a reverse change.At the same time,the technological innovation ability of both state-owned and non-state-owned new-energy vehicle listed companies does not play an intermediary role between government subsidies and corporate performance as expected.