Research On The Impact And Mechanism Of Government Subsidies On Corporate Innovation Performance

In recent years,in order to better promote the development of renewable energy,the central government has introduced the Renewable Energy Law of the People’s Republic of China and earmarked funds to support the development of new energy industries.With the advent of a new round of technological revolution,the integration of automobiles and their related technologies is developing rapidly,not only affecting the fields of transportation,energy,information and communication,but also promoting the transformation and upgrading of the industry.At the same time,the world’s major automotive countries have increased their strategic planning and policy support for new energy vehicles,and multinational automotive companies have increased their R&D investment in this field,making new energy vehicles a key focus for the transformation and modernization of the automotive industry as well as an important factor for sustainable global economic growth.As the technical indicators of new energy vehicles become better and better,the amount of related subsidies gradually decreases and the rate of withdrawal gradually accelerates.This paper selects variables related to innovation inputs and outputs,and takes Yutong Bus,a new energy bus company,as the research object to investigate the influence of government subsidies on the innovation performance of the company by evaluating the innovation efficiency through DEA two-stage model and the innovation effect through the comparative analysis of the innovation indexes and the government subsidies received,and to investigate the influence mechanism The analysis is conducted.Firstly,the current situation of the industry and the amount and types of government subsidies received by Yutong Bus are sorted out.Secondly,the innovation efficiency of Yutong Bus from 2013 to 2021 is analyzed by DEA two-stage model.Thirdly,the relationship between different types of government subsidies and innovation inputs and outputs is analyzed to examine the impact of various types of government subsidies on the innovation effect of enterprises and the mode of action.Then,the impact of government subsidies on the innovation effect of enterprises is analyzed by analyzing the impact of government subsidies on the innovation effect of Yutong Bus.After all,by analyzing the impact of government subsidies on the innovation efficiency and effectiveness of Yutong Bus,the mechanism of government subsidies is explored in depth,and the changes of innovation performance of new energy vehicle enterprises in the context of the withdrawal of government subsidies are attempted to be analyzed.This study concludes that(1)Government subsidies promote innovation performance of enterprises,and the promotion effect decreases at the margin as the innovation capability of enterprises increases.(2)R&D government subsidies and industry support government subsidies can directly promote Yutong Bus’ innovation input and output and improve innovation performance.(3)Non-R&D government subsidies,such as promotion and application government subsidies and tax incentives,mainly increase Yutong Bus’ revenue and profit by increasing vehicle sales and reducing cash flow burden,and promote Yutong Bus to invest more money.This will indirectly increase Yutong Bus’ s willingness and ability to innovate and improve its innovation performance.On this basis,the paper proposes to optimize the allocation of subsidy funds,specialize the focus of subsidy segmentation,and improve the industrial relevance of innovation performance evaluation.