补贴退坡政策对新能源汽车企业研发投入的影响实证研究

我国自2014年起逐步实施新能源汽车财政补贴退坡政策，对产业创新产生较大实际影响，但纵观已有研究，却忽视政府补贴退坡政策对于该领域企业研发投入的影响研究。因此，研究以2009—2020年我国123家汽车行业上市企业作为研究样本，采用PSM-DID研究方法就补贴退坡政策对企业研发投入的影响进行研究。研究发现，补贴退坡政策实施总体上会对新能源汽车企业研发投入产生显著负效应，导致企业减少研发投入，这种负效应在非国企和经济欠发达地区的企业中更为显著。

An Empirical Study on the Impact of Subsidy Reduction Policy on R&D Investment of New Energy Vehicle Enterprises

China has gradually implemented a subsidy reduction policy for new energy vehicles since 2014, which has had a significant impact on industrial innovation. However, previous research has overlooked the influence of this policy on R&D investment in the field. To address this gap, this study uses 123 listed companies in the Chinese automotive industry from 2009 to 2020 as research samples and employs the PSM-DID research method to investigate the impact of the subsidy reduction policy on R&D investment in enterprises. The findings reveal a significant negative effect of the subsidy reduction policy on R&D investment in new energy vehicle enterprises, resulting in a decrease in R&D investment. This negative effect is more pronounced in non-state-owned enterprises and economically underdeveloped regions.