Research On The Impact Of Government Subsidies On Innovation Performance Of New Energy Vehicle Companies

In recent years,with the environmental problems constantly coming up,persuing the protection of environment and energy conservation has become the global consensus.Growing the new energy automobile industry not only could alleviate the environmental problems,but also be a new economical growth point and the technology innovation is the key of the healthy development of new energy automobile industry.However Chinese new energy automobile industry is facing with the problem of immature technology,high cost,lack of supporting facilities and low innovation performance.Therefore the government plays an important role in the healthy development of new energy automobile industry.But the negative influence has been constantly coming up in the course of policy enforcement,so it is very important to study the government subsidies’ influence on the innovation performance of new energy automobile company.Taking the data of 58 listed new energy vehicle companies from 2014-2019 and according to the ecological niche theory,this paper divides the 58 listed new energy companies into downstream,midstream and upstream industry chain.Take the new product revenue of new energy vehicle as dependent variable,the government subsidies as independent variable and the property structure,total asset,the number of R&D personnel as control variable.Using the system GMM model to analyse the groups,the final result shows that the government subsidies exert positive impact on innovation performance of new energy vehicle companies.The government subsidies have stronger effect on the upstream industry chain than the downstream,midstream and upstream industry chain.From the depth and scope of study,this paper analyse the stata of the whole new energy vehicle industry according to different categories;from the selected subject,this paper chooses the new energy vehicle industry which government to greatly support.Finally,on the basis of concluding the characteristic of Chinese new energy vehicle industry,this paper raise some suggestions which includes the reinforcement of core technology’s subsidies,improving the matching facilities,the structure of fiscal subsidies and perfecting the legal institutions.