A Meta Regression Analysis on the Effect of Public Subsidy on Enterprises’ R&D： Heterogeneity, Publication Bias and Genuine Empirical Effect

Abstract

Abstract: It is controversial in both theory and evaluation literature that public subsidies in China can motivate enterprises to invest more in their R&D activities. This paper uses Meta Regression Analysis (MRA) model to analyze 122 evaluation studies and finds out genuine empirical effects after controlling study heterogeneity and publication bias. Studies with additional private R&D fund as dependent variable show a 30%-50% over-valuation is caused by publication bias, and reveal no evidence to support positive conclusion in studies with patent technology as dependent variable. In future, case study on specific policy and representative industry will be more meaningful.

Key words: effect of public R&D subsidy, heterogeneity of empirical studies, publication bias, Meta-analysis

Xie Hongtao, Chen Changxu, Zhang Jianshun. A Meta Regression Analysis on the Effect of Public Subsidy on Enterprises’ R&D： Heterogeneity, Publication Bias and Genuine Empirical Effect[J]. Management Review, 2022, 34(3): 114-126.

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