创新融资如何导致企业参与研发:中小企业的视角
Hui Sun1, Xiaocong Yang2,3, Xuan Tang4
1School of Economics and Statistics, Guangzhou University, Guangzhou, Guangdong, 510006, China.
PloS one
|July 25, 2023
概括
政府的创新补贴大大促进了中国科技中小企业的研发投资. 这些补贴标志着公司价值,缓解了融资约束,促进了技术进步.
科学领域:
- 经济学 经济学 经济学
- 创新研究 研究 创新研究
- 财务管理 财务管理
背景情况:
- 基于技术的中小企业对于中国的经济增长至关重要.
- 中小企业在研究和开发 (R&D) 资助方面面临重大挑战.
- 政府的创新补贴是主要的资金来源,但它们的信号效应尚未得到充分探索.
研究的目的:
- 调查政府创新补贴对中小企业研发投资的影响.
- 检查政府补贴的信号特征.
- 了解融资约束的调解作用.
主要方法:
- 分析中国中小企业委员会 (2012-2019) 的企业数据.
- 不对称信息理论和信号机制的应用.
- 对受补贴影响的研发投资的统计分析.
主要成果:
- 政府补贴对上市中小企业的研发投资产生了显著的积极影响.
- 融资限制调解了补贴和研发投资之间的关系.
- 所有权特征,债务比率和利息覆盖率都会影响补贴的有效性.
结论:
- 政府创新补贴通过发出信号,对中小企业研发投资产生积极影响.
- 可以获得政策见解,以最大限度地提高补贴的有效性.
- 进一步的研究可以根据公司的特点探索补贴影响的细微差别.
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