财政补贴、政策组合与资源型企业创新产出—基于创新产出异质性视角

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Abstract Based on the observational data of China's resource-based listed companies from 2013 to 2019,this paper explores the impact of financial subsidies on the difference between green innovation and traditional innovation output of resource-based companies.The results show as follows.①Financial subsidies can effectively stimulate the innovation output of resource-based enterprises,but mainly aimed at traditional innovation output;②When fiscal subsidies are implemented in conjunction with environmental regulations,environmental regulations not only positively regulates the impact of subsidies on green innovation output,but also weakens the incentive effect of subsidies on traditional innovation output.And the policy combination of subsidies and tax incentives did not play a synergistic incentive effect;③A certain innovation driving effect can be formed under subsidy incentives,which is mainly manifested in the driving effect of traditional innovation results on the economic performance of enterprises,but it has not promoted the coordinated development of economic performance and environmental benefits.

Key words： Financial subsidy Innovation output Policy mix Green innovation Enterprise performance

Received: 01 December 2020

PACS:	F812.4
	C93

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	Cheng Qiongwen
	Ding Hongyi

Cite this article:

Cheng Qiongwen,Ding Hongyi. Financial Subsidies,Policy Combination and Resource-Based Enterprise Innovation Output —Based on the Perspective of Innovation Output Heterogeneity[J]. , 2021, 2(9): 20-30.

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http://www.zgkjlt.org.cn/EN/ OR http://www.zgkjlt.org.cn/EN/Y2021/V2/I9/20

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