| With the transformation and upgrading of China's economy,chip and integrated circuit related industries have developed rapidly in the 21 st century.However,since2018,the US government has formulated a series of measures to restrict the development of Related enterprises in China,and the chip industry has been under the greatest pressure.At present,domestic chip and IC technology is far from meeting the requirements of supporting China's economy and guaranteeing national security,and relies too much on foreign manufacturers.Well-known high-tech industries such as chip industry must carry on the independent innovation,cannot rely on the technology transfer of developed countries,but the result of the chip company independent research and development activities in China tend to have a lot of uncertainty,which makes a lot of chip companies fear investment,are reluctant to invest a lot of money to independent research and development,in this case,In order to change the development status of China's chip industry,the Chinese government has provided a number of subsidies to support its development,but we have not yet known the actual effect.Therefore,government subsidies and r?d investment have become the core issues in the process of innovation and development of Chip enterprises in China.This paper,based on the related theory of the chip industry in our country the government R?D subsidies,the relationship between R?D input and innovation output,in order to measure the practical effects of the chip industry government subsidies and by establishing intermediary effect model and the panel threshold regression model is further discussed the R?D in the government plays the role of R?D subsidy and innovation output and government subsidies of moderate range.By conducting the empirical research in the future for the government subsidy policy formulation and control chip,chip industry in China continued rapid development put forward some practical and effective policy advice,as well as our chip enterprises how to allocate and use related government R?D funding,related research and development activities to provide theoretical basis for adjustment.Based on the Oriental Fortune Semiconductor sector,domestic chip concept sector,wind database and Guotaian database,this paper selects the micro data of Chinese chip listed companies from 2012 to 2018,and adopts fixed effect,intermediary effect and threshold effect models to conduct empirical analysis.The results show that: Chip listed companies in our country government subsidies and between r?d investment and r?d input and innovation performance has significant incentive effect,but the government subsidies on innovation output of the incentive effect is not significant,in further study found that government subsidies and chip is not without its relationship between enterprise innovation performance,but the need to establish corporate r?d input,The r?d investment of chip enterprises plays a role in covering up the actual effect of government subsidies on the innovation performance of chip enterprises.In order to further explore the reasons for the insignificant promotion effect of government subsidies on Chip enterprises in China,This paper further uses the panel Threshold Effect to divide the moderate range of government subsidies for listed chip enterprises in China.The results show that the intensity of government subsidies for chip enterprises in China is lower than the lower limit of the optimal range,which does not play a good role in promoting the r?d investment of enterprises.Therefore,The Chinese government should continue to strengthen the subsidies to chip enterprises,so as to promote the technological innovation and r?d activities of Chip enterprises in China,and improve the innovation output of enterprises. |
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