【前沿追踪】研发补贴对创新的影响顶刊文献分享

研发补贴对创新的影响

政府研发补贴是指政府给予企业的所有补贴中关于创新研发的部分。当前国外对政府研发补贴所产生的效应的研究主要可以分为宏观和微观效应研究两种，具体来说，宏观效应研究主要是指政府研发补贴对区域创新发展的效应研究，微观效应研究主要是指政府研发补贴对企业创新发展的效应研究。宏观方面，Regional Studies 中Do Cooperative Research and Development (R&D) Subsidies Stimulate Regional Innovation Efficiency? Evidence from Germany一文利用面板数据回归的方法，发现政府给予区域内企业的合作研发补贴可以促进区域创新效率的提升，并且创新能力低的地区从区域公司之间的合作以及与非区域公共研究机构的补贴联系中获益最大，而对创新能力较大的地区来说，与非区域性高校合作的补贴更为重要。相对宏观研究，实际上大多数的研究是围绕企业，从微观角度展开研究的，这些研究基本围绕政府研发补贴对企业创新发展的直接和间接效应来展开。比如Journal of Innovation & Knowledge中Government R&D subsidies and firm innovation performance: The moderating role of accounting information quality一文利用面板数据回归的方式，发现政府研发补贴可以促进企业研发投入和创新产出的增加，并且会计信息质量可以调节这种正向效应；还有Industry and Innovation中R&D subsidies and firm innovation: does human capital matter?一文发现政府研发补贴可以促进企业技术知识生产和创新商业化，人力资本可以调节这种正向效应。不同于上述观点，BRQ Business Research Quarterly中The effectiveness of R&D subsidies in fostering firm innovation: The role of knowledge-sourcing activities一文利用面板数据回归的方式，发现研发补贴的发放不会直接影响企业的创新，而是通过改变企业的研发努力和对技术市场的开放程度来影响企业的创新；除此之外，Renewable Energy中Positive or negative? R&D subsidies and green technology innovation: Evidence from China's renewable energy industry一文利用面板数据回归的方式，发现政府研发补贴与企业绿色技术创新之间存在倒U型关系，即在一定范围内，政府研发补贴可以促进企业绿色技术创新，而超过这一范围，这一正向效应将转化为负向效应。

PART.1

Government R&D subsidies and firm innovation performance: The moderating role of accounting information quality

政府研发补贴与企业创新绩效：会计信息质量的调节作用

Keywords:

Innovation policy;R&D subsidy;Accounting information;R&D Investment;Innovation output;Patent

关键词：

创新政策；研发补贴；会计信息；研发投资；创新成果；专利

Abstract:

The effects of government R&D subsidies can vary across recipient firms, depending on the various characteristics of a firm, potentially including the firm's accounting information quality (AIQ). It has been well recognized that high AIQ helps to reduce information asymmetry between investors and firms and, consequently, improves investment efficiency. However, there is a lack of clear understanding about the specific role of corporate accounting information in the ex-post effectiveness of government R&D subsidies. This study thus examines the main effects of government R&D subsidies on both firms’ R&D inputs and innovation outputs, and the positive moderating role played by the quality of corporate accounting information. The data include 1,561 sample firms listed in the stock markets in China and 11,853 firm-year observations between 2007 and 2015. We find that the moderating effect of AIQ is economically sizable where an improved AIQ (discretionary accruals), by a standard deviation, increases the additionality effect by 16% for corporate R&D investment and 4% for the growth of firms’ R&D inputs. In addition, we find the subsidies have a stronger favorable effect on firms’ R&D outputs (the number of patents) for those firms with a higher AIQ.

摘要：

政府研发补贴的影响可能因接受企业而异，这取决于企业的各种特征，可能包括企业的会计信息质量。众所周知，高AIQ有助于减少投资者和企业之间的信息不对称，从而提高投资效率。然而，人们对企业会计信息在政府研发补贴事后有效性中的具体作用缺乏明确的认识。因此，本研究考察了政府研发补贴对企业研发投入和创新产出的主要影响，以及企业会计信息质量所起的正向调节作用。这些数据包括2007年至2015年间在中国股票市场上市的11,853家公司中1,561家样本公司的年度观察数据。我们发现，AIQ的调节效应在经济上是相当大的，其中通过标准差改进的AIQ（可自由支配应计项目）使企业研发投资的额外效应增加了16%，使企业研发投入的增长增加了4%。此外，我们发现，对于AIQ较高的企业，补贴对企业的研发产出（专利数量）有更强的有利影响。

文献来源：

Zuo Z, Lin Z. Government R&D subsidies and firm innovation performance: The moderating role of accounting information quality[J]. Journal of Innovation & Knowledge, 2022, 7(2): 100176.

PART.2

R&D subsidies and firm innovation: does human capital matter?

研发补贴与企业创新：人力资本重要吗？

Keywords:

R&D subsidies; human capital; formal education; skills; firm innovation; innovation policy

关键词：

研发补贴；人力资本；正规教育；技能；企业创新；创新方针

Abstract:

This paper examines the innovation impact of R&D subsidies in Spain. It contributes to the literature on technology policy by challenging the assumption considering this impact as homoge-nous across firms. The paper presents a conceptual framework in which the human capital composition of a firm’s R&D staff, defined in terms of education and skills, conditions the innovation impact of R&D subsidies. Using panel data for Spain, we find that the shares of Ph.Ds. and researchers within a firm’s R&D staff positively moderate the effect of national R&D subsidies on the production of techno-logical knowledge. This fact shows the strategic value of Ph.Ds. and researchers in exploiting R&D subsidies. We also show that the contribution of Ph.Ds. is limited to the production of technological knowledge. In contrast, the contribution of researchers goes beyond the production of technological knowledge, also enhan-cing the R&D subsidy impact on the commercialisation of firms’innovations.

摘要：

本文研究了西班牙的研发补贴对创新的影响。该研究有助于技术政策领域的文献，因为它挑战了认为这种影响在企业间是同质化的假设。本文提出了一个概念框架，其中企业研发人员的人力资本构成（以教育和技能为衡量标准）决定了研发补贴的创新影响。利用西班牙的面板数据，我们发现，企业研发人员中拥有博士学位和研究人员的比例会正向调节国家研发补贴对技术知识生产的影响。这一事实表明，博士和研究人员在利用研发补贴方面具有战略价值。我们还发现，博士的贡献仅限于技术知识的生产。相比之下，研究人员的贡献不仅限于技术知识的生产，还可以增强研发补贴对企业创新商业化的影响。

文献来源：

Afcha S, Lucena A. R&D subsidies and firm innovation: does human capital matter?[J]. Industry and Innovation, 2022, 29(10): 1171-1201.

PART.3

The effectiveness of R&D subsidies in fostering firm innovation: The role of knowledge-sourcing activities

研发补贴在促进企业创新方面的有效性：知识来源活动的作用

Keywords:

R&D subsidies;R&D effort;markets for technology; openness to knowledge sourcing; R&D policy evaluation

关键词：

研发补贴；研发力度；技术市场；知识来源开放性；研发政策评价

Abstract:

This article presents a novel conceptual framework that uses the notion of knowledge sourcing to explain how firms realize benefits from R&D subsidies in terms of innovations. The study considers two dimensions of the firm’s knowledge sourcing: its R&D effort and level of openness to technology markets. This article proposes that the policy-induced effects of R&D subsidies on the knowledge-sourcing process increase firms’ innovation outcomes, thus making this policy intervention effective in promoting innovation. By using panel data from Spanish manufacturing firms, this article presents evidence consistent with the hypothesis that by changing the knowledge sourcing of firms, National R&D subsidy programs in Spain also favor more firm innovation, measured by patent applications and new product launches. It is also documented that the granting of R&D subsidies does not affect firm innovation directly but rather through inducing changes in the firm’s R&D effort and openness to technology markets.

摘要：

本文提出了一个新的概念框架，使用知识来源的概念来解释企业如何从创新方面实现研发补贴的好处。该研究考虑了公司知识来源的两个维度：研发努力和对技术市场的开放程度。本文提出，研发补贴对知识来源过程的政策诱导效应增加了企业的创新成果，从而使这种政策干预有效地促进了创新。通过使用西班牙制造企业的面板数据，本文提供了与以下假设一致的证据：通过改变企业的知识来源，西班牙的国家研发补贴计划也有利于更多的企业创新，以专利申请和新产品发布为衡量标准。还记录了研发补贴的发放并不直接影响企业创新，而是通过诱导企业研发努力的变化和对技术市场的开放来影响企业创新。

文献来源：

Afcha S, Lucena A. The effectiveness of R&D subsidies in fostering firm innovation: The role of knowledge-sourcing activities[J]. BRQ Business Research Quarterly, 2021, 24(4): 302-323.

PART.4

Positive or negative? R&D subsidies and green technology innovation: Evidence from China's renewable energy industry

积极还是消极？研发补贴与绿色技术创新：来自中国可再生能源产业的证据

Keywords:

R&D subsidies;Green technology innovation;Renewable energy;Inverted U-Shaped

关键词：

研发补贴；绿色技术创新；可再生能源；倒U型

Abstract:

Existing studies have separately discussed the significance of R&D subsidies (RDS) and green technology innovation (GTI) in the renewable energy (RE) industry. However, there is limited research exploring the relationship between them, underestimating the actual incentive effect of RDS on GTI in the RE industry. Using data from 160 listed RE companies in China from 2011 to 2020, this study aims to investigate the direct influence of RDS on GTI in the RE industry and uncover the underlying theoretical mechanisms. Our results reveal an inverted U-shaped association between RDS and GTI of RE companies, indicating an optimal value for the promotion effect of RDS on GTI. Furthermore, we find that RDS can indirectly influence the performance of GTI of RE companies by affecting the intensity of their R&D investments. The results of heterogeneity analysis show that the influence of RDS on GTI in the RE industry varies depending on factors, such as company lifecycles, ownerships, scales, and geographical characteristics. The empirical results of this study have significant implications for optimizing existing subsidy mechanisms to foster the development of GTI in China's RE industry.

摘要：

现有研究分别讨论了研发补贴（RDS）和绿色技术创新（GTI）在可再生能源（RE）行业中的意义。然而，对它们之间关系的研究有限，低估了RDS对可再生能源行业GTI的实际激励作用。本研究利用2011-2020年中国160家可再生能源上市公司的数据，旨在研究RDS对可再生能源行业GTI的直接影响，并揭示其潜在的理论机制。我们的结果揭示了RE公司的RDS和GTI之间的倒U型关联，表明RDS对GTI的促进作用为最优值。此外，我们发现RDS可以通过影响RE公司的研发投资强度来间接影响其GTI的绩效。异质性分析结果表明，RDS对可再生能源行业GTI的影响因公司生命周期、所有权、规模和地理特征等因素而异。本研究的实证结果对优化现有补贴机制以促进中国可再生能源行业GTI的发展具有重要意义。

文献来源：

Lin B, Xie Y. Positive or negative? R&D subsidies and green technology innovation: Evidence from China's renewable energy industry[J]. Renewable Energy, 2023, 213: 148-156.

PART.5

Do Cooperative Research and Development (R&D) Subsidies Stimulate Regional Innovation Efficiency? Evidence from Germany

合作研发补贴是否能刺激区域创新效率？来自德国的证据

Keywords:

Innovation policy;Regional innovation efficiency;Research and development (R&D) subsidies;   Cooperation networks

关键词：

创新政策；区域创新效率；研发（R&D）补助；合作网络

Abstract:

The subsidization of research and development (R&D) and R&D cooperation has gained in importancein recent years. Building on a rich panel dataset, covering 270 German labour market regions and four industries, it is shown thatsubsidies for R&D cooperation are a suitable policy measure for stimulating the innovation efficiency of regions. The empiricalfindings suggest that regions with low innovation capacities benefit the most from cooperation among regionalfirms and subsidizedlinks to non-regional public research institutes. The subsidization of cooperation with non-regional universities is more importantfor regions with large innovation capacities. Support for non-cooperative projects is related to negative effects.

摘要：

近年来，研发补贴和研发合作变得越来越重要。基于覆盖德国270个劳动力市场地区和四个行业的丰富面板数据集，研究表明，研发合作补贴是刺激地区创新效率的合适政策措施。实证研究表明，创新能力较低的地区从区域公司之间的合作和与非区域公共研究机构的补贴联系中受益最大。对于创新能力较强的地区，与非地区大学合作的补贴更为重要。对非合作项目的支持与负面影响有关。

文献来源：

Broekel T. Do cooperative research and development (R&D) subsidies stimulate regional innovation efficiency? Evidence from Germany[J]. Regional studies, 2015, 49(7): 1087-1110.

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图文：王翔宇

编辑：李发珍

审核：宁靓、姜忠辉