| Since the beginning of the 21 st century,a new round of scientific and technological revolution has accelerated the reshaping of the world economy.New technologies,new industries,new forms of business and new models are emerging,and mankind will enter the fourth industrial revolution.In the "Fourteenth Five-Year Plan",China also determined the overall thinking of national economy and social development in the next five years,emphasizing that science and technology should lead the industrial transformation and upgrading,and promote the high-quality development of the manufacturing industry.The core technology foundation of the new industrial revolution is the New Generation of Information Technology.The New Generation of Information Technology Industry is also one of the strategic emerging industries that China focuses on developing at present.However,the New Generation of Information Technology Industry has a long R&D cycle,high risk and serious spillover effect,which may lead to market failure.Moreover,China’s New Generation of Information Technology Industry started late,and its basic R&D capability is weak.At present,it is still at the low end of the global industrial chain.Therefore,government R&D subsidies have become an important means to promote the development of New Generation of Information Technology.Our government has issued a series of financial policies to promote the R&D and innovation of China’s New Generation of Information Technology enterprises.However,with the continuous strengthening of government subsidies,some enterprises have become dependent on subsidies and inefficient use of subsidies.Subsidies have not reached the original intention of policy to some extent.At the same time,for a long time,the academic community has been controversial about the policy effect and mechanism of R&D subsidies,and most of the studies are empirical studies rather than case studies.Based on this,this paper combs the relevant literature,summarizes the previous scholars’ views on the impact of government R&D subsidies on enterprise innovation performance,and analyzes the impact of the New Generation of Information Technology Industry R&D subsidies on enterprise innovation performance by using case analysis,comparative analysis and other research methods in combination with the State Intervention Theory,Innovation Theory,Path Dependence Theory,Political Championship Theory,and Human Capital Theory.The subsidies in this paper mainly refer to direct R&D subsidies,tax incentives and other indirect R&D subsidies are not included in the scope of subsidies.The R&D subsidies are divided into pre-subsidies and post-subsidies.China Greatwall Technology Group Co.,Ltd.is selected as the case study object.It is a large state-owned enterprise in the New Generation of Information Technology Industry in China.This article first introduces the R&D subsidies,R&D investment and innovation performance of the enterprise.Starting from their correlation,it explores the first reason that affects innovation performance,and finds that the R&D subsidies affect the fluctuation level of the enterprise’s innovation performance.Secondly,this paper compares the case enterprise with other listed private enterprises in the same industry,evaluates their innovation performance level,and discusses whether the type of R&D subsidies and the nature of enterprises have an impact on the effectiveness of R&D subsidies.Thirdly,this paper compares the projects receiving R&D subsidies with the main business direction of enterprises,explores the differences between their matching degree,and evaluates the effectiveness of R&D subsidies.Finally,this paper selects other state-owned enterprises with good innovation performance in the same industry for comparison,analyzes the impact of the tenure assessment of state-owned enterprises and the incentive differences for R&D personnel,analyzes the efficiency of the use of R&D subsidies,and summarizes the reasons why the case enterprise has high R&D subsidies but poor innovation performance.This study found that:(1)The high proportion of the pre-R&D subsidies will reduce the enterprise’s innovation motivation and inhibit the enterprise’s innovation performance.(2)R&D projects are greatly affected by policy constraints,and R&D subsidies do not work efficiently.(3)The tenure assessment of state-owned enterprises makes managers prefer short-term benefits and ignore incentives for R&D personnel.Finally,this paper puts forward corresponding improvement suggestions from both the government and enterprises to better improve the innovation performance of the case enterprise as well as other enterprises. |
