科技创新补贴供给侧改革与企业研发策略研究*

本文利用2010—2015年沪深A 股上市公司的科技创新补助与R&D研发数据，分析了中国供给侧改革中创新驱动政策对企业创新行为与策略选择的引导激励效果。研究发现：随着创新驱动供给侧改革的实施，企业进行R&D研发投入的意愿得到加强，开始偏好长期研发投入。创新补贴认定与考核标准相关政策机制落地，地方政府的无效创新补贴激励机制被抑制。在供给侧改革下，企业对创新长期驱动与短期经济效益进行理性权衡抉择，减少了外观设计专利等策略性创新成果的产出。本文进一步通过对产权性质分组还发现：供给侧改革后，国有企业创新产出激励最为突出，大幅度增加了专利的申请。而民营企业则通过扩大长期研发项目的投入和聘用储备技术人员，为下一阶段的创新研发作铺垫。  

TECHNOLOGY INNOVATION SUBSIDY SUPPLY SIDE REFORM AND FIRMS R&D STRATEGY

Using technology innovation subsidy data and R&D data of Shanghai and Shenzhen A share listed companies from 2010 to 2015, this paper analyses the guidance and incentive effects of innovation driven policies on firms innovation behaviors and strategies. The results show that: (1)With the implementation of innovation supply side reform, firms  R&D investment incentive has been significantly improved, and the will to invest in longterm R&D research has been strengthened. (2) The reform of innovation subsidy identification and the assessment standard policy suppressed local governments invalid innovation subsidies. (3) Enterprises have made rational trade offs between short term economic benefits and long term development by reducing design patent innovation output. (4) The incentive effect of state owned enterprises is higher than private enterprises. During the innovation supply side reform, the innovation output quality of state owned enterprises has increased, while private enterprises still take conservative strategies.