2011•The Journal of Financial ResearchRequires access

Government's R&D Subsidies and Enterprise Technology Innovation:An Empirical Analysis based on the Perspective of Efficiency

Li Jin

Abstract

Based on the panel data of China's large and medium-sized industrial enterprises during 1998-2007, this study conducts an empirical analysis on the impact of government's RD subsidies on innovation efficiency by using the stochastic frontier analysis method.The results show that the government's RD subsidies have a significantly positive effect on technology innovation efficiency,enterprise's own RD investment has a significantly positive effect on absorbing and utilizing the government RD subsidies,but the impacts of firm size and property type are not significant.

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Key concepts: Subsidy, Government (linguistics), Panel data, Frontier, Stochastic frontier analysis, Investment (military), Perspective (graphical), China