Government Subsidies,R&D Intensity And Innovation Performance

The new energy vehicle industry has the characteristics of high resource utilization,high technical requirements and high added value,and its development meets the needs of my country’s economic growth mode transformation.In addition,the rapid rise of the industry can protect the natural environment and reduce the frequency of non-renewable resources.In 2009,my country supported the new energy vehicle industry,from urban pilot operation to encouraging independent innovation of new energy vehicle enterprises,the government issued relevant policies and provided financial support to facilitate the development of the new energy vehicle industry.In addition,the state grants funds every year to subsidize the new energy vehicle industry to help it carry out related research and development activities,and to promote the new energy vehicle industry to maintain its core competitiveness and steady development capabilities.The new energy vehicle industry receives a large amount of subsidies every year.Can the use of subsidies by enterprises achieve the purpose of promoting innovation performance? How can companies improve their innovation performance? Therefore,it is particularly important to study the impact of government subsidies on the innovation performance of the new energy vehicle industry.Based on the panel data of 154 new energy vehicle companies from 2015 to 2020,the research idea of this paper is to study the relationship between government subsidies,R&D intensity and innovation performance,and to explore the role of R&D intensity in it.The research results show that: First,there is a significant positive correlation between government subsidies and innovation performance.Further dividing the nature and scale of enterprises,the impact of government subsidies on innovation performance is mainly concentrated in non-state-owned enterprises,and it also has a significant role in promoting large and medium-sized enterprises.Second,there is a significant positive correlation between government subsidies and R&D intensity,and it is significantly correlated with each subsample after grouping.Third,adding the R&D intensity variable to the impact of government subsidies on innovation performance,the results show that R&D intensity can significantly affect innovation performance,and R&D intensity plays a mediating role.Fourth,select BYD,an influential company in the new energy vehicle market,to carry out a case study.The study finds that the changes in government subsidies,R&D intensity and innovation performance are basically the same,which are consistent with the empirical research conclusions and increase the credibility of the research results.Finally,the empirical research and case study results of this paper are summarized,and it is proposed that the government should refine the subsidy policy,scientifically divide the enterprise standards,and make the government subsidy distribution more targeted and more effective.At the enterprise level,it is recommended to enhance research and development capabilities,formulate innovative mechanisms,improve talent selection,strengthen related industry links,and look forward to future research directions.