Research On The Impact Of Government Support Policies Based On The Intermediary Effect On The R&D Efficiency Of New Energy Vehicle Enterprises

In order to cope with environmental pollution,ease energy pressure and achieve sustainable development,the Chinese government has vigorously promoted new energy vehicles in recent years,and the government has issued a large number of policies to support new energy vehicle companies.After more than ten years of development,the new energy vehicle industry has made considerable progress.In terms of production and sales of new energy vehicles,China’s new energy automobile production and sales have been ranked first in the world for four consecutive years since 2015.In terms of technology,China’s new energy technology industry has made breakthroughs in many aspects such as batteries,frames,and motors.At present,China’s new energy automobile industry has achieved the independence of the entire industrial chain,and has cultivated a batch of enterprises with certain international status such as BYD and Ningde Times.At present,the new energy automobile industry is gradually changing from the cultivation period to the growth period,and the government’s support policies also need to be adjusted to adapt to the new stage of the development of the new energy automobile industry.Therefore,to assess the R&D efficiency of listed companies of new energy vehicles,the government supports the research on the impact of new energy vehicle companies on efficiency and the mechanism of their function,which is helpful to understand the R&D efficiency of new energy vehicle companies and their influencing factors.This provides a basis for the government to formulate supportive policies for the new energy vehicle industry.This study firstly demonstrated the effect of government support on R&D investment of new energy vehicle companies through theoretical analysis,and then based on the theory of oligopoly,constructed a two-stage game model that considers enterprise R&D efficiency to analyze the impact of government support and enterprise R&D investment on enterprise R&D efficiency And found that the company ’s own R&D investment played an intermediary role in the impact of government support on the company ’s R&D efficiency.Afterwards,in empirical research,we selected 40 listed companies of new energy vehicles as research samples,and applied the DEA-BCC model to evaluate the R&D efficiency of these companies;using R&D efficiency as the explanatory variable,and taking government subsidies and tax incentives on behalf of government support policies as the explanation variables,construct an intermediary effect model,and empirically analyze the relationship between government support,enterprise R&D investment,and enterprise R&D efficiency in the new energy vehicle industry from 2009 to 2018.The empirical results show that government support can generally improve the R&D efficiency of new energy vehicle companies;government subsidies can effectively improve the company ’s R&D investment and R&D efficiency;the company ’s R&D investment has a suppressive effect on the company ’s R&D efficiency;The subsidy and the R&D efficiency of the enterprise play an intermediary effect.The government subsidy indirectly affects the R&D efficiency of the enterprise through the R&D investment of the enterprise;the preferential government taxation policy has no effect on the R&D investment or the efficiency of the enterprise.Finally,according to the results of theoretical analysis and empirical analysis,corresponding suggestions are made.