政府补贴、国际知识产权保护与企业创新——来自战略性新兴产业上市公司的证据

政府补贴对企业创新的影响存在争议,在美国重点打击中国战略性新兴产业的背景下,补贴这一产业政策的有效性再次引起热议。本文以2012-2017年沪深A股战略性新兴产业上市公司为样本,研究在国际知识产权保护加强的背景下政府补贴对战略性新兴产业创新绩效的影响。研究发现:中国政府实施的补贴政策有利于促进战略性新兴产业创新,但国际知识产权保护加强约束了中国政府补贴的规模和空间,从而抑制了补贴政策对战略性新兴产业创新的激励作用;此外,基于企业和产业异质性视角,国际知识产权保护的加强主要抑制了补贴对国有企业、内资企业和新材料产业创新的促进作用。进一步完善补贴政策和国内的知识产权保护制度,有利于提升中国在构建国际经济新秩序中的话语权。

Government Subsidies,International Intellectual Property Protection and the Innovation of Enterprise:Evidence from Strategic Emerging Industries Listed Firms

The impact of government subsidies on enterprise innovation is controversial.In the context of the U.S.focus on attacking China′s strategic emerging industries,the effectiveness of the industrial policy of subsidies once again aroused hot debate.This paper takes the listed companies of A-share strategic emerging industries in Shanghai and Shenzhen from 2012 to 2017 as samples to study the impact of government subsidies on the innovation performance of strategic emerging industries in the context of strengthening international intellectual property protection.It is found that the subsidy policy implemented by the Chinese government is conducive to promoting the innovation of strategic emerging industries,but the strengthening of international intellectual property protection restricts the scale and space of Chinese government subsidies,thus inhibiting the incentive effect of subsidy policy on the innovation of strategic emerging industries;in addition,from the perspective of the heterogeneity of enterprises and industries,the strengthening of international intellectual property protection mainly restrains the role of subsidies in promoting the innovation of state-owned enterprises,domestic funded enterprises and new material industries.To further improve the subsidy policy and domestic intellectual property protection system is conducive to enhancing China′s voice in building a new international economic order.