Research On The Impact Of Selective Industrial Policy On China’s Enterprise Innovation Performance

Innovation is the primary driving force for development,and an important guarantee for enhancing national scientific and technological capabilities and comprehensive strength.As an important main body of China’s technological innovation system,enterprises’ innovation performance level is closely related to China’s overall innovation strength.China has introduced a series of selective industrial policies to encourage R&D and innovation of enterprises.High-tech enterprises,as the main force of R&D and innovation,are more likely to be favored by the policy.In 2008,China promulgated the "Administrative Measures for the Recognition of High-tech Enterprises",hoping to enhance the willingness of enterprises to research and development and the driving force of innovation through measures such as reducing tax burdens and issuing government subsidies.In this context,The identification of high-tech enterprises,a typical selective industrial policy,is selected as the research object,and the impact of selective industrial policy on the innovation performance of Chinese enterprises is examined.Firstly,The relevant researches on the identification of high-tech enterprises,enterprise R&D manipulation and innovation performance in recent years are summarized in this paper.Secondly,in the empirical part,the straggered DID method is used to test the impact and mechanism of high-tech enterprise identification on enterprise innovation performance.Finally,considering that enterprises may obtain high-tech enterprise qualifications through R&D manipulation,The R&D manipulation behavior of enterprises under the background of high-tech enterprise identification policy,and the impact of enterprise R&D manipulation on R&D output are analyzed in this paper.The results of this paper show that:(1)The identification of high-tech enterprises can significantly increase the R&D investment and R&D output of enterprises.(2)In the inspection of the impact mechanism of high-tech enterprise identification on enterprise innovation performance,it is found that policy can increase R&D investment and R&D output of enterprises through the tax incentive mechanism,but can only increase R&D investment through government subsidy mechanism,and cannot significantly improve R&D output.(3)The innovation incentive effect identified by high-tech enterprises is more significant in nonstate-owned enterprises and low industry competition enterprises.(4)The upward manipulation of R&D expenditure by enterprises in order to obtain high-tech enterprise qualifications will inhibit enterprises’ R&D output.The research not only enriches the relevant research on the effectiveness of selective industrial policy and the innovation performance of enterprises,but also provides empirical evidence for the government to formulate and implement selective industrial policy.