(河海大学商学院,江苏 南京 211100)
许长新(1963—),男,教授,博士,主要从事金融创新管理研究。E-mail:firstname.lastname@example.org 通信作者:黄杏婷(1996—),女,硕士研究生,主要从事金融创新管理研究。E-mail:18705197 email@example.com
(Business School, Hohai University, Nanjing 211100, China)
Based on China's micro data from 2012 to 2020, this article takes water resources enterprises as the research objects, and conducts an empirical analysis of the relationship between R&D investments and enterprise growth. This article measures the growth of an enterprise with a comprehensive factor score. Moreover, in order to eliminate the endogenous problems and intertemporal effects of the R&D investments of enterprises, this article uses System Generalized Moment Estimation (SYS-GMM) to conduct an empirical analysis of the relationship between R&D investments and enterprise growth. In addition, this article also examines the role of government R&D subsidies in regulating this relationship. The results show that there is a U-shaped relationship between the growth of water resources enterprises and their R&D investments. Besides, government R&D subsidies can adjust the relationship between R&D investments and enterprise growth, and make the U-shaped curve slope of the relationship between the two more gentle.
许长新,黄杏婷,陈灿君.政府补助对企业研发投入与成长的调节作用[J].水利经济,2022,40(4):69-73XU Changxin, HUANG Xingting, CHEN Canjun.(R&D investment and enterprise growth:the regulatory role of government subsidies[J]. Journal of Economics of Water Resources,2022,40(4):69-73.(in Chinese))复制