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| Influence of Government Subsidy on the Dual Innovation Investment of New Energy Listed Companies |
| Li Chuanxian, Huang Li |
| Business School of Southwest University of Political Science and Law,Chongqing 401120,China |
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Abstract In the environment of increasingly fierce market competition,innovation is the fundamental driving force for enterprises to gain sustainable competitive advantage,ensure growth and improve performance.For the strategic emerging industries advocated by the state,such as the new energy industry,market demand has not yet developed,and government subsidies are strong support for enterprise innovation.This paper takes the 2012—2016 data of Shanghai-Shenzhen A-shares new energy listed companies as a sample,and empirically examines the impact of government subsidies on corporate innovation investment under the dual innovation model.This study finds that:government subsidies have an incentive effect on innovation investment of new energy listed companies;they have incentive effects on exploration innovation investment and exploitation innovation investment of new energy listed companies;compared with exploration innovation investment,government subsidies have a more obvious incentive effect on the exploitation innovation investment of new energy listed companies.
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Received: 19 April 2018
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2019, Vol. 0 
