The Influence of Government Subsidies on the Efficiency of Technological Innovation: A Panel Threshold Regression Approach

Abstract

As a typical technology-intensive industry, the renewable energy industry is a standard sample for scholars to study the R&D innovation of enterprises. At present, the industry is strongly supported by the government subsidy policy in China and has developed rapidly in recent years. Its own financing constraints and lack of innovation power are also the main problems for the development of renewable energy enterprises. Taking A-share renewable energy enterprises from 2016 to 2020 as the research object, this paper constructs a panel model to empirically study the relationship between government subsidies and enterprise innovation efficiency. The findings are as follows. First, government subsidies can significantly promote the innovation efficiency of enterprises; second, the government subsidy has an obvious double threshold effect on the innovation efficiency of enterprises, and when the government subsidy is in a certain range, the subsidy effect is the best; third, the government subsidy effect of non-state-owned renewable energy enterprises is better than that of state-owned enterprises; the effect of government subsidies for renewable energy enterprises in the central and western regions is better than that in the eastern region. The threshold effect of government subsidies on enterprise innovation efficiency is also quite different.

Research on Dynamic Evolutionary Efficiency and Regional Differentiation of High-Tech Industrial Chain Networks

“…will have a certain impact on the innovation efficiency of high-tech enterprises [8][9][10][11]. In recent years, some scholars have also explored the role of digital economy, green finance and other factors in improving high-tech industries, such as Ying et al [12], who believe that the digital economy promotes the improvement of the industrial innovation efficiency of high-tech enterprises through strengthening entrepreneurship and industrial structure upgrading, and Wang [13], who argues that there is industry heterogeneity in terms of the impact of green financial policies on the R&D efficiency of technological innovations in high-tech industries. (2) Research on evaluation of innovation efficiency of high-tech industries.…”

Influencing factors and improvement paths of manufacturing innovation performance: Configuration analysis based on TOE framework

“…Of course, it is not the case that the higher the level of funding, the more innovative will be the output. Small and medium-sized enterprises receive less government subsidies, but they produce better results [40]. Li et al (2021) argued that there is a non-linear relationship between government subsidies and technological innovation [41].…”

Effect of the Strategic Emerging Industry Support Program on Corporate Innovation among Listed Companies in China

“…Government subsidies and tax incentives are fundamental elements of strategic newindustry support programs. Government subsidies can be regarded as a redundant resource that can enhance the risk-taking ability of enterprises and thus help them to innovate and develop (Nohria and Gulati, 1996;Hu et al, 2023) [11,12]. The Strategic Emerging Industry Support Program is an industrial support policy that allows for the provision of tax benefits and government subsidies to strategic emerging industry enterprises, and these forms of support act as a redundant resource that increases the book assets of enterprises, enhances their risk-taking capacity, and motivates them to engage in technological innovation (Lu et al, 2014;Li and Zheng, 2016;Lee and Beom, 2010;Bronzini and Iachini, 2014;Huergo and Moreno, 2017) [3,[13][14][15][16].…”