Research On The Influence Of R&D Subsidies On The Innovation Performance Of New Energy Enterprises

The 14th Five-Year Plan further emphasizes the importance of innovation and green development in the new concept of development.Government research and development subsidies,as an important policy tool for government to support enterprises’ research and development activities,are helpful to encourage enterprises to increase their investment in research and development and enhance their motivation for innovation.This paper uses externality theory,signal transmission theory,crowding in effect and crowding out effect theory to sort out research literature,and then empirically analyzes the correlation between R&D subsidies and innovation performance of listed new energy enterprises that have received high government R&D subsidies continuously in recent years,and then takes Xinjiang Goldwind Technology Co.,LTD.(" Goldwind Technology " for short)as a typical case.This paper uses case analysis and other research methods to further explore the influence mechanism and effect of government R&D subsidies on enterprise innovation performance,so as to provide reference for improving government R&D subsidy policies and improving enterprise innovation performance.On the basis of literature review,this paper discusses the theoretical basis of externality theory,signal transmission theory and two core concepts of government R&D subsidy and innovation performance.Then,the influence mechanism of government R&D subsidies on the innovation performance of new energy enterprises and the intermediary role of R&D investment are analyzed.Then,based on six research hypotheses,the data of 68 new energy enterprises from 2015 to 2021 are selected through data screening,and the impact of government R&D subsidies on the innovation performance of new energy enterprises is empirically-analyzed by using regression models.In addition,R&D input is used as the intermediary variable to verify the above hypotheses.The results show that R&D subsidies in advance have an incentive effect on innovation performance,and R&D investment plays an intermediary role,but the effect of R&D subsidies on innovation performance is not obvious or even inhibits.We then present Goldwind Technology as a case study to discuss government R&D subsidies,R&D investments and Goldwind Technology’s innovation performance in each year from 2007 to 2021,and analyze the impact mechanism of the two types of R&D subsidies,summarize the path of different government R&D subsidies on innovation performance indicators based on different subsidy dates,constructing a VAR model that includes two types of R&D subsidies,R&D investments and patent applications;and In addition,the paper summarizes the research,showing that ex ante R&D subsidies have a positive incentive effect on the innovation performance of new energy firms,while ex post R&D subsidies have no significant effect and even a suppressive effect.In order to further improve the effectiveness of R&D support in the new energy sector,ex ante R&D support should be increased and the supervision of ex post R&D subsidies should be strengthened.