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Government R&D Subsidies and Firms' Innovation Performance: Empirical Evidence Based on Listed Companies in the New Energy Industry

Published in Economics (Volume 13, Issue 1)
Received: 27 February 2024     Accepted: 21 March 2024     Published: 25 March 2024
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Abstract

At present, China is actively changing the original energy consumption structure, reducing the use of traditional fossil energy and vigorously promoting the green development of new energy. To stimulate technological innovation and promote economic growth is the direction and principle of the current industrial policy, and to increase the investment of R&D funds and enhance the independent innovation ability is the way to accelerate the construction of China's core competitive strength, so it is necessary to scientifically assess the impact of government R&D subsidies on the innovation performance of enterprises. The government's investment of R&D funds also plays an important role in the new energy industry, which is characterized by technological innovation, government R&D funding also plays an important role in the new energy industry characterized by technological innovation. In this paper, we select the panel data of listed companies in the new energy industry from 2006 to 2020 as the research object to empirically analyze the relationship between government R&D subsidies and corporate innovation performance. Based on the results of benchmark regression in this paper, the overall results show that government R&D subsidies are conducive to the improvement of corporate innovation performance in the new energy industry. This study aims to explore the effect of government R&D subsidies on enterprise innovation performance and put forward feasible suggestions to understand the role of government subsidies in the process of enterprise R&D and innovation activities from a deeper perspective.

Published in Economics (Volume 13, Issue 1)
DOI 10.11648/j.eco.20241301.13
Page(s) 22-31
Creative Commons

This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited.

Copyright

Copyright © The Author(s), 2024. Published by Science Publishing Group

Keywords

Government R&D Subsidies, Corporate Innovation Performance, New Energy Industry

References
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    Wenyi, D. (2024). Government R&D Subsidies and Firms' Innovation Performance: Empirical Evidence Based on Listed Companies in the New Energy Industry. Economics, 13(1), 22-31. https://doi.org/10.11648/j.eco.20241301.13

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    ACS Style

    Wenyi, D. Government R&D Subsidies and Firms' Innovation Performance: Empirical Evidence Based on Listed Companies in the New Energy Industry. Economics. 2024, 13(1), 22-31. doi: 10.11648/j.eco.20241301.13

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    AMA Style

    Wenyi D. Government R&D Subsidies and Firms' Innovation Performance: Empirical Evidence Based on Listed Companies in the New Energy Industry. Economics. 2024;13(1):22-31. doi: 10.11648/j.eco.20241301.13

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  • @article{10.11648/j.eco.20241301.13,
      author = {Deng Wenyi},
      title = {Government R&D Subsidies and Firms' Innovation Performance: Empirical Evidence Based on Listed Companies in the New Energy Industry},
      journal = {Economics},
      volume = {13},
      number = {1},
      pages = {22-31},
      doi = {10.11648/j.eco.20241301.13},
      url = {https://doi.org/10.11648/j.eco.20241301.13},
      eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.eco.20241301.13},
      abstract = {At present, China is actively changing the original energy consumption structure, reducing the use of traditional fossil energy and vigorously promoting the green development of new energy. To stimulate technological innovation and promote economic growth is the direction and principle of the current industrial policy, and to increase the investment of R&D funds and enhance the independent innovation ability is the way to accelerate the construction of China's core competitive strength, so it is necessary to scientifically assess the impact of government R&D subsidies on the innovation performance of enterprises. The government's investment of R&D funds also plays an important role in the new energy industry, which is characterized by technological innovation, government R&D funding also plays an important role in the new energy industry characterized by technological innovation. In this paper, we select the panel data of listed companies in the new energy industry from 2006 to 2020 as the research object to empirically analyze the relationship between government R&D subsidies and corporate innovation performance. Based on the results of benchmark regression in this paper, the overall results show that government R&D subsidies are conducive to the improvement of corporate innovation performance in the new energy industry. This study aims to explore the effect of government R&D subsidies on enterprise innovation performance and put forward feasible suggestions to understand the role of government subsidies in the process of enterprise R&D and innovation activities from a deeper perspective.
    },
     year = {2024}
    }
    

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    AU  - Deng Wenyi
    Y1  - 2024/03/25
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    DO  - 10.11648/j.eco.20241301.13
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    JO  - Economics
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    UR  - https://doi.org/10.11648/j.eco.20241301.13
    AB  - At present, China is actively changing the original energy consumption structure, reducing the use of traditional fossil energy and vigorously promoting the green development of new energy. To stimulate technological innovation and promote economic growth is the direction and principle of the current industrial policy, and to increase the investment of R&D funds and enhance the independent innovation ability is the way to accelerate the construction of China's core competitive strength, so it is necessary to scientifically assess the impact of government R&D subsidies on the innovation performance of enterprises. The government's investment of R&D funds also plays an important role in the new energy industry, which is characterized by technological innovation, government R&D funding also plays an important role in the new energy industry characterized by technological innovation. In this paper, we select the panel data of listed companies in the new energy industry from 2006 to 2020 as the research object to empirically analyze the relationship between government R&D subsidies and corporate innovation performance. Based on the results of benchmark regression in this paper, the overall results show that government R&D subsidies are conducive to the improvement of corporate innovation performance in the new energy industry. This study aims to explore the effect of government R&D subsidies on enterprise innovation performance and put forward feasible suggestions to understand the role of government subsidies in the process of enterprise R&D and innovation activities from a deeper perspective.
    
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Author Information
  • School of Accountancy, Hunan University of Technology and Business, Changsha, China

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