政策“目标—工具”视角下政府创新补贴对企业研发投入的影响

军民融合企业发展对制度环境具有高度依赖性，政府支持和引导对企业创新行为具有重要作用。政策目标是政策工具实施效果的评判基准，并且导致政策工具发挥不同作用。利用国泰安数据库213家军民融合板块上市公司2008—2016年非平衡面板数据，对产业扶持和技术创新型创新补贴政策对企业研发投入的影响进行理论分析和实证检验。研究发现，产业扶持型补贴对于国有企业的研发投入具有显著促进作用；技术创新型补贴政策对国有及非国有军工企业研发活动均具有显著激励作用，且对非国有企业研发活动的激励作用更明显。

Public Subsidies and Private R&D Investment from the Perspective of Policy Objectives and Policy Instruments

The development of military-civilian integration enterprises is highly dependent on the institutional environment,and government support and guidance play an essential role in corporate R&D.Policy objectives are benchmarks for the effectiveness of policy tools and lead to different effect for policy instruments.This study uses the 2008-2016 non-balanced panel data of 213 military-civilian integration listed companies in CSMAR database to conduct theoretical analysis and empirical test on the impact of industrial support and scientific and technological innovation government innovation subsidy policies on enterprise R&D decisions.The results show that the industrial support subsidies have a significant role in promoting the R&D investment of state-owned enterprises.The technical innovation subsidies have a considerable incentive for both state-owned and non-state-owned military enterprises R&D activities,and non-state-owned enterprises have more significantly impacted.