Government R&D Funding, Financial Credit and Enterprise Technology Innovation

Abstract

Abstract:

Based on the statistical data of Chinese manufacturing industry from 2000 to 2013, this paper employs methods of panel data regression analysis to research the impact of direct government R&D subsidy and indirect government R&D subsidy on technological innovation. The results show that direct government R&D subsidy and indirect government R&D subsidy have a significantly positive effect on technological innovation. Financial credit and firm size have a significantly positive moderating effect, while industry technical level has no significantly moderating effect, regardless of promoting direct government R&D subsidy or indirect government R&D subsidy. This paper suggests that the financial credit environment should be improved for the government R&D subsidies to play a better role, the government should aim at specific enterprises when providing subsidies, and both direct and indirect government R&D subsidies should be used for technological innovation.

Key words: direct government R&D funding, indirect government R&D funding, financial credit, technology innovation

Li Xingong. Government R&D Funding, Financial Credit and Enterprise Technology Innovation[J]. , 2016, 28(12): 54-62.

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