Corporate innovation under government R&D subsidies:“Making up the number” or “Making it Better” ?

Speaker:Qianwei Ying (Business School, Si Chuan University, Professor)

Host:Guowei Cai(Lingnan College, Sun Yat-sen University, Professor)

Date and Time: May 25, 2018 (14:30-16:00)

Location: Rm 701, MBA Center

Language: Chinese + English



Improving the quality of corporate innovation is the only way for China to change from a “large country in innovation” to a "strong country in innovation". This paper uses the sample of high-tech enterprises in A-share listed companies from 2008 to 2015 to investigate the impact of R&D subsidies on the quality of corporate innovation. It is found that under the stimulation of government R&D subsidies, enterprises have "massive quantity and light quality" innovation manipulation behavior, and this behavior is more serious in provinces with more government expenditures on technology funding. From the perspectives of the acceptance and distribution mechanisms of subsidies, this paper further demonstrates the reasons why enterprises engage in the innovation manipulation, and provides corresponding evidence. At the same time, this paper also finds that the political rent-seeking of enterprises will further distort the distribution mechanism of government subsidies, and lower down the requirements on corporate innovation quality for government subsidies. This paper deepens the understanding of the relation between government subsidies and corporate innovation, and provides certain implications for the improvement of our country's innovation subsidy policy.


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